Finance & Capital Management

Bitcoin, the nearly anonymous, peer-to-peer online currency, has been getting attention lately. The attention has not been necessarily positive, as bitcoin was the preferred currency of the recently closed down Silk Road “darknet” site that served as a virtual global marketplace for narcotics and other illegal goods.

Regional department store operator Gordmans Stores said its fourth quarter same store sales are likely to decline in the mid-single digits after it reported a 6.1% drop in comps for the third quarter ended November 2.

Despite the comp decline, Gordman’s total sales at its 93 stores increased 5.8% to $151.3 million from $143.1 million due to the addition of 10 new stores in the prior nine months. Net income for the third quarter was $1.1 million, or six cents a share, compared to net income of $4 million, or 21 cents a share, last year.

Steady as she goes. That old nautical phrase, urging a firm hand on the wheel and an unwavering eye on the compass, seems apt for today’s retailers. While economic waters remain troubled, an improved economic forecast promises retailers a smoother route to profitability in 2014. 

SodaStream International named veteran entertainment industry executive Scott Guthrie as regional general manager of the Americas reporting directly to CEO Daniel Birnbaum.

Data center retrofit cuts cooling costs by 93%

Retailers are constantly on the hunt for energy savings, and data centers offer huge potential: By 2020, data centers could consume 10% of all U.S. power, according to some experts. Here’s how outdoor gear and apparel retailer Recreational Equipment Inc. (REI) is working to reduce energy costs and its environmental footprint in this critical area of operations.

Location: Thornwood, N.Y., in Westchester County    

Size: 20,175 sq. ft. 

Developer: DLC Management Corp.    

Major tenants: Walgreens    

Status: Complete    

Winston-Salem, N.C. -- Krispy Kreme has signed a development agreement with Dulce Restaurants, LLC, to develop 10 new Krispy Kreme shops in Houston over the next five years.

Dulce Restaurants, LLC, a subsidiary of Dallas-based Sun Holdings, LLC, currently operates three Krispy Kreme locations in Dallas, and has plans to open an additional 15 Dallas shops through 2018.

Pleasanton, Calif. -- Safeway Inc. announced it has reached a definitive agreement to sell 11 of its Dominick's stores in the Chicago metropolitan area in a cash and lease assumption transaction to Roundy's, Inc. Roundy's will take possession of the stores during a transition period that will take place over the next two months.