Finance & Capital Management

Ridgefield, Connecticut -- Schimenti Construction Company completed ground up construction of two Target department stores, in Huntington and Staten Island, N.Y. — overcoming unique challenges exacerbated by Super Storm Sandy along the way.

While the hurricane did not cause major damage at either project, it did destroy fencing, displace materials and flood excavations. Both projects experienced fuel shortages, suffered delays in material supply, and required subcontractors to set up carpools to reach the worksites.

Walmart has appointed Krish Iyer president and CEO of Walmart India, effective Jan. 20, 2014. He will report to Scott Price, president of Walmart Asia.

York, Pa. – Bon-Ton Stores has entered into an amendment to the company’s existing $675 million asset-based revolving credit facility that was scheduled to mature in March 2016. Bank of America, N.A. continues to serve as Agent on the credit facility.

The second amendment extends the maturity date of the commitments under the credit facility to Dec. 12, 2018. The amendment provides interest rate reductions and generally favorable revisions regarding the facility requirements.

Fremont, Calif. – Men’s Wearhouse reported declining net income during the third quarter of fiscal 2013 even as net sales improved. Net income dropped about 22%, from $48.8 million in the third quarter of the prior fiscal year to $38.2 million.

The Coca-Cola Company’s board of directors has named Ed Steinike as a senior VP and Robert J. Jordan Jr. as a VP. Jordan will succeed William D. Hawkins III as general tax counsel, who announced his intention to retire in March 2014 after 15 years of service with the company.

Tampa, Fla. — RMC Property Group has named Sharon Rogers-Barron director of property management for the company. She will oversee the day-to-day property management and financial performance of RMC proprietary properties and third party managed assets.

New York -- MasterCard plans to expand its world headquarters in Purchase, N.Y.,  suburbs and open a technology lab in Manhattan, the Associated Press reported.

The report said that MasterCard is investing several million dollars to open a new mobile e-commerce technology lab in New York City, which will lead to 122 new research and development and software jobs in Manhattan.

Men’s Wearhouse reported declining net income during the third quarter of fiscal 2013 even as net sales improved.

Net income dropped about 22%, from $48.8 million in the third quarter of the prior fiscal year to $38.2 million.