Finance & Capital Management

Hoffman Estates, Ill. -- Sears Holdings said that Scott Huckins will join the company as VP and corporate treasurer.

Huckins comes to Sears Holdings from RSC Holdings where he served as VP and treasurer, responsible for global treasury, credit and investor relations activities. 
 

Mahwah, N.J. -- Furnitureland South, in Jamestown, N.C., has selected TD Retail Card Services to develop and administer its new private label credit card.
 

New York -- Dollar General Corp. on Monday reported a 36% jump in quarterly profit and raised its expectations for the year as its momentum continued.

Dollar General earned $213.4 million in the fiscal first quarter ended on May 4, up from $157.0 million a year earlier. Sales rose 13% to $3.9 billion. Same-store sales increased 6.7%.

New York-- Retail executives have more cash, are adding employees and enjoying stronger revenue, but they remain quite guarded longer term, not seeing a complete economic recovery until 2014 or later, according to the 2012 Retail Outlook Survey by audit, tax, and advisory firm KPMG LLP.

In the recent survey, 77% of retail executives indicate that their companies have significant cash on the balance sheet – up from 72% in KPMG's 2011 survey – and 56% say their companies' cash positions have increased from last year. 

Bentonville, Ark. -- Wal-Mart Stores on Monday released the tally of its shareholder vote on Friday in which all directors of its board reelected. The voting showed some dissent against key executives and board members, including CEO Mike Duke, in the wake of allegations of bribery in Mexico.

According to the tally, CEO Mike Duke received 87% of votes in favor of his re-election. In other results, Chairman Robson Walton, son of Sam Walton received 87% in favor of re-election, and former CEO Lee Scott received 84%.

Charlotte, N.C. -- Harris Teeter Supermarkets entered into an agreement with Lowe’s Food Stores whereby Harris Teeter will acquire 10 Lowes locations in the central Carolinas region and Lowes Foods acquiring six Harris Teeter store locations in western North Carolina.

In addition to the six Harris Teeter stores, Harris Teeter has agreed to pay Lowes Foods $26.5 million. The transaction is expected to be completed in the company’s third quarter of fiscal 2012, which ends July 1, 2012.

Beaumont, Texas -- Conn's Inc. said Monday its first-quarter net income more than doubled, and the retailer raised its outlook for the year.

The retailer earned $11.6 million for the three months ended April 30, compared with $4.4 million in the same period last year, which included some one-time costs for severance payments. Revenue increased 5% to $200.9 million from $192 million, as same-sales surged 17.8%.

Deerfield, Ill. -- Pharmacy benefits manager Express Scripts and Walgreens said Friday they are ending a legal dispute. However, the decision has no impact on their ability to agree to business terms.

Walgreens said last June that it would stop filling prescriptions for Express Scripts Holding Co. members when a contract between the companies expired. It said Express Scripts was not paying it enough money.

Union, N.J. -- Bed Bath & Beyond Inc. bought textile distributor Linen Holdings LLC in an all-cash transaction for approximately $105 million to boost its sourcing capabilities and gain access to new customers.

Based in Gibbsboro, N.J., Linen Holdings is a privately held distributor of bath, bed and table linens and other textile products to customers in the hospitality, cruise line, food service, health care and other industries.

PITTSBURGH — American Eagle Outfitters has named Mary Boland as EVP, chief financial and administrative officer, effective July 9. Boland’s responsibilities will include finance, investor relations, merchandise planning and allocation, strategy planning, and other administrative functions.