Finance & Capital Management

TORONTO — Hudson's Bay Company's second quarter was characterized by strong same store sales growth at Hudson’s Bay and rising e-commerce sales, which were partially offset by a decline in same store sales at Lord & Taylor.

Davenport, Iowa -- Von Maur Department Stores will open its first location in the Northeast, at Eastview Mall in Victor, N.Y., which is located just outside of Rochester. The two-level, 140,000-sq.-ft. store is scheduled to open on Oct. 26.

Located at the mall's former Bon Ton location, the store underwent a complete reconstruction by local contractor LaChase Construction to achieve Von Maur's signature exterior brick façade with arching entryways accented by a copper roof and cupolas.

Cincinnati -- The Kroger C0.’s second-quarter net income rose 14%, helped by lower charges and increased revenue. The supermarket company also lifted the low end of its fiscal 2013 outlook for a key revenue metric.

Philadelphia -- Destination Maternity Corp. plans to relocate its corporate headquarters and distribution center from Philadelphia, to southern New Jersey.

The company's corporate office operations (which are currently split between its headquarters at North 5th Street in Philadelphia and its offices in the Philadelphia Navy Yard) will move twelve miles from the current 5th Street headquarters facility to a completely renovated 74,000-sq. ft. building in Moorestown, New Jersey. The chain expects the move to occur in fall 2014.

Walmart president and CEO Bill Simon prefaced his comments at the Goldman Sach Global Retailing Conference by saying he wouldn’t have much to say. That proved to not be the case as Simon said a lot about a wide range of subjects.
 

Lululemon Athletica seems to be putting the recall of its see-through yoga pants earlier this year behind it. The company reported net revenue of $344.5 million for the second quarter ended Aug. 4, a 22% increase from $282.6 million in the prior-year quarter. Comparable stores sales for the quarter increased by 8%.

West Orange, N.J. — Paul V. Profeta and Associates, a real estate investment firm, has completed the sale of 12 Walgreens properties in nine states to Inland Real Estate Acquisitions. The purchase price was $60 million or more than $330 per square foot.

All of the properties are occupied under long-term 75-year triple-net leases with the Walgreens pharmacy chain. Walgreens has the right to cancel after 25 years.

Fremont, Calif. -- The Men's Wearhouse Inc.'s fiscal second-quarter earnings fell 28% amid several one-time charges and a shift in quarterly tuxedo rental revenues. Citing macroeconomic challenges, the company lowered its fiscal 2013 guidance.