Finance & Capital Management

PURCHASE, N.Y. — The president of PepsiCo's Western Europe business has been given a new role.

NEW YORK — Equinox, an operator of full-service fitness clubs, announced that Sarah Robb O'Hagan, who currently serves as president of Gatorade and global sports nutrition at PepsiCo, will join the company as its first president. Robb O'Hagan will lead an aggressive domestic expansion strategy to maximize the continued success of the growing company, including its family of brands: Equinox, Pure Yoga, Blink, and SoulCycle. She will report to Equinox CEO Harvey Spevak.

Minneapolis -- Best Buy Co. co-founder Richard Schulze said Thursday that he is staying the course on his plan to acquire the company and take it private, adding that he has heard from a lineup of private equity firms prepared to make "significant commitments."

In a letter to the Best Buy board, Schulze indicated that he'd like to create a group and put forth a fully financed plan.

Columbus, Ohio -- Limited Brands reported Wednesday that net income in the second quarter dropped 38% to $143.6 million, from $231.2 million in the year-ago period.

The owner of Victoria’s Secret, Bath & Body Works and La Senza saw revenue slip 2% in the quarter to $2.4 billion, meeting Wall Street expectations. Same-store sales grew 8%.

The company also raised its earnings guidance for the year, although it expects a weak third quarter.
 

Chesapeake, Va. -- Dollar Tree Inc. reported Thursday that profit for the quarter ended July 28 soared 26% to $119.2 million, compared with $94.9 million in the year-ago period.

Sales rose 10.5% to $1.7 billion, just missing Wall Street’s expected $1.71 billion. Same-store sales grew 4.5%.

However, the company’s outlook fell short of Wall Street expectations, saying that it expects revenue between $1.71 billion and $1.75 billion in the third quarter while Wall Street expects $1.77 billion.
 

Hoffman Estates, Ill. -- Sears Holding Corp. reported Thursday a loss of $132 million for the quarter ended July 28, narrowed from a loss of $146 million in the year-ago period. The retailer cited expense cutting and reduced inventory for the performance improvement.

Bentonville, Ark. -- Wal-Mart Stores reported Thursday that net income for the second quarter rose 5.7% to $4.02 billion, compared with $3.8 billion in the year-ago period. Total revenue increased 4.5% to $114.3 billion, but missed Wall Street’s forecasted $115.8 billion in revenue.

Same-store sales in the quarter advanced 2.2%, edging Wall Street expectations but trailing last quarter’s 2.6% same-store sales gain.

MINNEAPOLIS — Target’s second-quarter sales increased 3.5% to $16.5 billion and the company’s profits grew 2.9% to $1.06 per share, five cents better than analysts expected.

GLENWILLOW, Ohio — Fashion retailer Dots has named former Walmart SVP, Lisa Rhodes as its new CEO.

Rhodes, who led Walmart's U.S. apparel merchandising division, has been charged with leading Dots’ march toward 1,000 stores.

Prior to her role at Walmart, Rhodes was EVP and chief merchandising officer for Maurice’s.

GLENWILLOW, Ohio — Fashion retailer Dots has named former Walmart SVP, Lisa Rhodes as its new CEO.
  
Rhodes, who led Walmart's U.S. apparel merchandising division, has been charged with leading Dots’ march toward 1,000 stores.
   
Prior to her role at Walmart, Rhodes was EVP and chief merchandising officer for Maurice’s.