Finance & Capital Management

BOLINGBROOK, Ill. — Ulta Beauty has named Scott Settersten CFO and assistant secretary, effective immediately. Settersten will report to Dennis Eck, interim CEO.

Settersten has been acting CFO and assistant secretary since October 2012. He previously served as VP accounting since 2010 and was responsible for accounting, tax and external reporting. In that role, he also oversaw investor relations and worked closely with the audit committee and board of directors. He joined Ulta Beauty in January 2005 as director of financial reporting.

Atlanta -- Aaron's, a lease-to-own, announced the recent opening of a combined 32 new company-operated and franchised stores in 17 different states and two Canadian provinces.

The announcement follows a strong growth year for the company in 2012, which included the opening of its 2,000th store in the Bronx in September.

Irving, Texas -- Michaels Stores said its fourth-quarter profit rose 15%, boosted by higher sales.
   
For the three months ended Feb. 2, the company said net income rose to $112 million, up from $97 million in the year ago period.

Revenue rose 9% to $1.52 billion, helped by an extra week in the quarter. Same-store sales increased 1.7%, with a 2.3% increase in the average ticket.

For the year, net sales increased 15% to $4.41 billion. Net income totaled $214 million, up from $176 million in fiscal 2011.

Columbus, Ohio -- Express said its fourth-quarter net income rose a better-than-expected 6%, but its full-year projection for earnings came up short as the retailer provided a weak outlook.
   
Express, similar to many other retailers, had less traffic in February, as higher taxes and rising gas prices cut into shoppers’ discretionary spending.
 
For the period ended Feb. 2, Express Inc. earned $63.9 million, up from $60.4 million a year earlier.

First quarter same store sales are expected to increase in the high teens at Cabela’s and drive earnings substantially higher than analysts’ estimates, the retailer said late Tuesday in advance of an investor conference today.

Cabela’s reported a firearms and ammunition driven 12% same store sales increase for its fourth quarter ended December 29, 2012. When those results were released a month ago the company said the favorable trends seen in the fourth quarter had accelerated into the first quarter.

Nokomis, Fla. -- The Sembler Co. announced that it is redeveloping the Nokomis Village Shopping Center, anchored by Publix and located in Nokomis, Sarasota County, Fla.
 
Publix will close on March 30, while other tenants including Anthony’s ladies apparel, Village Pharmacy, Ophelia’s Pasta restaurant, and Saltwater Café remain open during the construction of a new Publix store.

Dick’s Sporting Goods first Field & Stream outdoor specialty store is scheduled to open this fall in the Pittsburgh suburb of Cranberry Township.

Knoxville, Tenn. -- CHM announced that it has broken ground on Knoxville’s first urban, vertical retail complex, University Commons.

The Publix- and Walmart-anchored shopping and dining center will cover 12+ acres, with 211,000 sq. ft. of retail space and parking. Besides the two anchors, an additional 40,000 sq. ft. will be dedicated to smaller retailers and service providers once the project is completed.