Finance & Capital Management

Walgreens filled a record 821 million prescriptions which helped boost the company’s retail pharmacy market share for the fiscal year to 19.1%. 

Walgreens posted a sales gain of 0.8% for the fiscal year ended Aug. 31, reaching a record $72.2 billion. Early morning trading boosted Walgreens' share price from a close of $53.80 on Monday to $56.06, an increase of 4.2%.

Washington, D.C. – The National Retail Federation welcomed a new study that shows retailers have passed along the majority of the savings from debit card swipe fee reform to their customers, and that the resulting increase in consumer spending has boosted job creation across the country.

But the study also shows that benefits for consumers and the economy could have been much larger if the Federal Reserve had set its cap on debit swipe fees lower as directed by Congress.

Columbus, Ohio -- JC's 5 Star Outlet, formerly the outlet store division of J.C. Penney, is winding down operations and closing its 15 stores. "Going out of business" sales will start Wednesday, offering shoppers deeper discounts than the usual outlet prices of 25% to 75% off retail.

The 5 Star Outlet stores, which had been designated for closure by J.C. Penney, were acquired by SB Acquisitions in October 2011, and rebranded JC's 5 Star Outlet.
   

New York – At least four law firms have launched investigations of Lumber Liquidators Holdings, Inc. following a raid by federal agencies on Lumber Liquidators’ Virginia offices in connection with the importation of certain wood-flooring products. The law firms of Pomerantz Grossman Hufford Dahlstrom & Gross LLP, Bronstein, Gewirtz & Grossman, LLC, The Shuman Law Firm, and Wohl & Fruchter LLP are all investigating whether Lumber Liquidators has committed federal securities violations.

SMS Assist, a leading technology-driven facilities maintenance and management company, has appointed Geoffrey Wigner as its EVP of facilities.

Wigner previously served as senior director of store services for Dollar General, where he managed more than $500 million in capital and expense budgets while directing major projects affecting more than 10,000 stores. Wigner helped the nationwide retailer open 625 new stores and renovate 525 others in fiscal year 2011. 

New York -- American Realty Capital – Retail Centers of America, Inc. ("ARC Retail") closed its acquisition of the Tiffany Springs MarketCenter, located in Kansas City, Mo., on Sept. 26, for a contract price of $53.5 million, exclusive of closing costs. The purchase of the Tiffany Springs MarketCenter represents ARC Retail's third acquisition of a retail power center with multiple credit tenants.

Hollywood, Calif. – On Sept. 26, 2013, the board of directors of Frederick’s of Hollywood Group Inc. received a non-binding proposal letter from a consortium of HGI Funding LLC, TTG Apparel, LLC, Tokarz Investments, LLC, Fursa Alternative Strategies LLC, and Arsenal Group LLC to acquire all of the outstanding shares of its common stock.

Bentonville, Ark. -- Walmart announced that Kathleen McLaughlin, 48, has been named president of the Walmart Foundation, effective Oct. 15.

In addition to leading corporate giving, she will have responsibility for the company's global sustainability, women's economic empowerment initiatives and healthier food initiatives.

McLaughlin, previously a senior partner at global consulting firm McKinsey & Company, is a dual American-Canadian citizen and was based in Toronto.