Finance & Capital Management

Hampstead, Md. – Jos. A. Bank Clothiers Inc. reportedly may consider a hostile takeover bid for Men’s Wearhouse. According to Bloomberg, Jos. A. Bank chairman Robet Wildrick said he would prefer a friendly acquisition but his company is not ruling any options out.

Minneapolis – Supervalu Inc. beat Wall Street estimates with second quarter fiscal 2014 net earnings of $40 million, compared to a $111 million loss in the year-ago period.

The supermarket operator reported net sales of $3.95 billion, up 0.2% from $3.94 billion last year.

Same-store sales results varied by banner. Same-store sales in the Save-A-Lot network were negative 0.3, while same-store sales for corporate stores within the Save-A-Lot network were positive 4.6% and were negative 0.9% in the Retail Food segment.

Mooresville, N.C. -- Lowe's has launched a dedicated fleet of natural gas-powered trucks at its regional distribution center in Mount Vernon, Texas. The fleet is among the first serving a major retail distribution center in North America to run solely on natural gas.

With the transition from a diesel-fueled fleet to trucks powered by liquefied natural gas (LNG), Lowe's expects to reduce greenhouse gas emissions nearly 20%  and control fuel costs as it transports up to 68 truckloads each day to stores in Texas, Louisiana, and Oklahoma.

Walmart said its worldwide capital expenditure budget for the 2014 will range between $11.8 billion and $12.8 billion, roughly $200 million less than the company expects to spend during the current year, even as it adds more selling space.

Cincinnati -- The Kroger Co. named  Michael L. Ellis, senior VP of retail divisions, as president COO effective January 1, 2014, completing the succession plan announced in September.

In September, Kroger announced that chairman and CEO David B. Dillon will retire as CEO on January 1, 2014, and will continue to serve as chairman through December 31, 2014. He will be succeeded by W. Rodney McMullen, Kroger's president and CO, effective January 1, 2014.

The Bon-Ton Stores plan to close its location in the mall at Steamtown in Scranton, Pa. The company will not renew the lease, which terminates January 31, 2014. The closing will impact approximately 50 employees at this location.

The company acquired the leasehold interests in the Scranton store in 2000. It does not expect costs associated with the closing of the location to be material.

Issaquah, Wash. – Costco Wholesale Corporation is reportedly cooperating with the U.S, Drug Enforcement Administration (DEA) in an ongoing investigation of prescriptions for controlled substances. According to Reuters, the DEA served Costco with warrants and subpoenas related to the investigation.

Costco announced its cooperation in an SEC filing and has made no other public comment. The DEA has been investigating pharmacy chains and distributors across the country in regard to prescription drug misuse and abuse.

Bentonville, Ark. – Wal-Mart Stores will reportedly close 20 underperforming stores in China next year as part of an overhaul of its Chinese operations. According to Bloomberg, Wal-Mart is restructuring its business in China, including a new management structure and more efficient purchasing operations.

However, Wal-Mart still plans to open 100 stores in China during the next three years. A Wal-Mart executive said the stores being closed there do not have ideal locations or layouts.