Finance & Capital Management

Staples has promoted John Buchta to VP, treasurer and tax. Buchta adds the role of treasurer to his current responsibilities as VP, tax, and will continue to report to Christine Komola, EVP and CFO.

“John has been an outstanding leader at Staples and brings more than 25 years of industry experience to his new role,” Komola said.

Buchta joined Staples in 2011. Prior to Staples, he was a partner at Ernst & Young. He succeeds Lisa Scopa, who has been promoted to the position of VP, high growth markets.

Deerfield, Ill. -- Walgreens announced it is launching a full suite of integrated financial services, Balance Financial, in phases over the coming months. The services are all built around the chain’s new Balance  Financial Prepaid MasterCard.

Balance Financial is currently offered to customers of more than 250 Walgreens locations in Detroit, Milwaukee, and Nashville, with a nationwide card rollout expected before year end and additional financial services in 2014.

Norwalk, Conn. – GE Capital, Corporate Retail Finance announced it is administrative agent and sole lender on a $100 million senior secured credit facility for Samuels Jewelers. The proceeds will be used to refinance existing debt and to support ongoing working capital needs. GE Capital Markets served as lead arranger.

New York -- Fifth & Pacific Cos., formerly known as Liz Claiborne, agreed to sell its Juicy Couture brand to Authentic Brands Group for $195 million, according to various reports.  

"This decision is the result of a process we began last year—studying our resource allocation needs, our capital structure, and the operating risks and opportunities associated with a three-brand portfolio while still maximizing shareholder value," said William McComb, CEO of Fifth & Pacific, in a statement.

A manufacturing facility in Rogers, Ar., operated by Redman & Associates plans to hire 74 new workers as it increases domestic sourcing of ride-on toys sold at Walmart.

CashStar, a digital gifting company, has named Ben Kaplan as the company’s president and CEO. In addition to his role as president and CEO, Kaplan remains a member of the company’s board of directors, to which he was appointed in August when he joined CashStar as COO.

Framingham, Mass. -- Staples announced the appointment of John Buchta to VP, treasurer and tax. Buchta adds the role of treasurer to his current responsibilities as VP, tax, and will continue to report to Christine Komola, executive VP and CFO.  

Buchta joined Staples in 2011 as VP, tax. Prior to Staples, he was a partner at Ernst & Young.

Buchta succeeds Lisa Scopa, who has been appointed VP, high growth markets.

Washington, D.C. -- Despite concerns over the government shutdown, import volume at the nation’s major retail container ports is expected to grow 9.1% in October over the same month last year, according to the monthly Global Port Tracker report released Monday by the National Retail Federation and Hackett Associates. The numbers reflect merchandise ordered months before the shutdown as retailers planned for the holiday season.