Finance & Capital Management

Generating revenue through electricity contracts

The U.S. retail and wholesale establishments make up one of the largest sectors of electricity consumption in the nation. And they’re likely to use even more within the next few years, according to the U.S. Energy Information Administration, whose recent annual report indicates that commercial and industrial entities will lead domestic growth in primary energy usage through 2040.

New York – Tiffany & Co. grew its net earnings 16% during the second quarter of fiscal 2013, and also increased net sales and same-store sales. Net earnings increased 16% to $107 million, from $92 million in the same quarter a year earlier.

Americans are eating more chicken and paying more to do so, according to leading poultry producer Sanderson Farms.

The company said its third quarter sales increased 18.3% to $739 million and profits grew 136% to $67.9 million, or $2.95 a share, compared to profits of $28.7 million, or $1.25 a share.

The strong showing was the result of improved market conditions as whole bird prices remained at historically high prices during the quarter, according to Joe F. Sanderson, Jr., chairman and CEO of Sanderson Farms, Inc.

NEW YORK — Mitchell Klipper, CEO of Barnes & Noble’s retail group., has sold off two-thirds of his stock holdings in Barnes & Noble between Aug. 22 and Aug. 26, according to reports. 

An SEC filing indicates that Klipper sold 400,000 of roughly 600,000 shares he held in the company, grossing more than $5.5 million.

Greenwood Village, Colo. — Red Robin Gourmet Burgers has announced the opening of two new restaurants. The first will open in Canton Crossing, Md., and Inner Harbor location in downtown Baltimore in late September. The second will open in Monroeville, Pa., at The District at Monroeville Mall outside of Pittsburgh in early October.

Richfield, Minn. -- Best Buy Inc.’s founder and largest shareholder, Richard Schulze, plans to sell off an unspecified portion of his 20% stock holdings in the chain, according to a filing with the Securities and Exchange Commission.  

The move is part of Schulze's “personal long-term strategy for asset diversification and liquidity,” according to the filing, which did not disclose the total number of shares expected to be effected by the sale.

New York -- The Conference Board Consumer Confidence Index which had declined in July, increased slightly in August. The Index now stands at 81.5, up from 81.0 in July.

L3 Capital invests in what it calls prime urban retail, which includes a lot of street retail in the premier cities. "We own retail properties in several neighborhoods in New York City, Los Angeles and Chicago," said Greg Schott managing piincipal.

At the end of last year, L3 made its first investment in its hometown of Chicago. The company bought four retail buildings along a flourishing four-block retail stretch of Southport Avenue in the Lakewood neighborhood. The cost was $13 million for 17,000 sq. ft.