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Finance & Capital Management

  • Destination XL Group swings to loss in Q2, revises guidance

    Canton, Mass. -- Big and tall men’s apparel retailer Destination XL Group recorded a $1.6 million loss in the second quarter, compared with a profit of  $1.2 million in the year-ago period.  Sales dipped 3% to $97.6 million from $100.5 million, and same-store sales rose 6.9%.

  • Gap raises outlook as Q2 profit surges 25%; bringing Old Navy to Shanghai

    San Francisco -- A resurgent Gap Inc. reported that its second quarter profit jumped 25% on strong sales of denim and other goods at its namesake and Old Navy brands. And bucking a trend set by other retailers, the company raised its full-year earnings guidance. Gap also detailed upcoming expansion plans.

  • Softer-than-expected Q2 comp-store sales for Hibbett

    BIRMINGHAM, Ala. — Hibbett Sports reported a weaker-than-expected comparable-store sales increase of 0.3% for the second quarter ended Aug. 3, compared to a 4.8% increase in the prior-year period.

    Last year's second quarter benefited from the extra week in the fiscal calendar which resulted in approximately $12 million of sales.

  • Wal-Mart pushes ‘made in America’ at first-ever domestic sourcing summit

    Bentonville, Ark. -- Wal-Mart Stores on Thursday brought together retailers, suppliers and government officials to figure out how they could work together to drive more manufacturing in the United States.

  • CNBC brings star power to sourcing summit

    Financial network CNBC’s top anchor Maria Bartiromo took her show “Closing Bell” on the road this week to broadcast live outside the auditorium at the Orlando convention center where Walmart convened its domestic manufacturing summit.

  • What’s Hurting J.C. Penney? Lack of Change and Clarity

    By Kathy Gersch, VP at Kotter International [email protected]

  • Net leased Jacksonville Walgreens goes to bankruptcy auction

    Jacksonville, Fla. — Madison Hawk will conduct a real estate auction on Sept. 18 for a free standing retail building just east of downtown Jacksonville, Fla. The building is part of a Chapter 11 bankruptcy proceeding.

    Located at 1220 University Avenue, the 1.72-acre property contains a 15,070-sq.-ft. Walgreens Pharmacy that generates about $302,000 in net income annually. The Walgreens Co. lease is Double Net (NN) with the initial term running through 2019.

  • Pathlight Capital issues term loan to Birks & Mayors

    Boston -- Pathlight Capital, part of Sycamore Partners, said it will serve as the administrative and co-collateral agent on a $28 million secured term loan facility to Montreal-based jewelry retailer Birks & Mayors.

    The loan, which matures August 2018, amends an existing $18 million term loan; the Junior Capital Division of Wells Fargo Capital Finance will serve as the co-collateral agent on the facility.   

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