Finance & Capital Management

Costa Mesa, Calif. -- Donahue Schriber announced that its major investors New York State Teachers’ Retirement System and J.P. Morgan Strategic Property Fund have approved an additional $100 million common equity investment for growth capital.   

The money will be utilized to help fund the company’s strategic growth plans over the next three to five years, according to chairman and CEO Patrick S. Donahue.

JACKSONVILLE, Fla. — Stein Mart reported that its total sales for the month of February were $85.2 million, an increase of 5.6% over total sales of $80.7 million for the four-week period ended Feb. 25, 2012. Comparable-store sales for the month increased 0.6%.

Arlington, Va. -- Sustainability teams in retail companies are growing, and reporting levels are gaining seniority, according to a new survey by the Retail Industry Leaders Association.

The report, RILA’s second Retail Sustainability Report, was done in sponsorship with Ernst & Young, The survey uncovered six significant trends, specifically that:

1. Sustainability teams are growing. Most companies surveyed have full-time sustainability teams. Teams are growing, and reporting levels are gaining seniority.

Phoenix -- PetSmart Inc. reported a 31% increase in its fiscal fourth-quarter profit, helped by an extra week of sales. But its forecast for this year disappointed investors.

The company earned $134 million for the quarter ended Feb. 3, up from $102 million in the year-ago period.

Revenue rose 15% to $1.88 billion from $1.64 billion, helped by an extra week of sales in the more recent quarter. Same-store sales rose 4.6%.

For the full year, PetSmart’s revenue rose 11% to $6.8 billion.

WARRENDALE, Pa. — Specialty apparel retailer Rue21has announced that Stacy Siegal, the company's current VP, general counsel and corporate secretary, has been promoted to the additional position of chief administrative officer. Siegal will continue to report directly to Bob Fisch, the company's president and CEO.

New York -- SL Green Realty Corp. announced Wednesday that fashion retailer Alexander McQueen has signed a 15-year lease for a mid-block retail space at 747 Madison Avenue.   

The tenant is expected to move into the space during third quarter 2013.
 
The retail co-op interest at 747 Madison is owned by a joint venture that includes SL Green, Jeff Sutton and Harel Insurance Co.

ISSAQUAH, Wash. — Costco reported net sales of $7.58 billion for the month of February, an increase of 8% from $7.01 billion during the similar period last year.

For the twenty-six weeks ended March 3, 2013, the company reported net sales of $51.35 billion, an increase of 9% from $47.22 billion during the similar period last year.

Excluding the impact of fuel, Costco's total comps for the four-week period were up 6%. For the 26-week period, comps were up 5%.

New York -- Gap Inc. said Thursday that its February same-store sales rose a better-than-expected 3% for the four weeks ended Feb. 25. Analysts expected a 2% increase.
   
The chain was due to release the sales figures after the market closed, but put them out at midday after they were found in a leaked transcript of prerecorded comments.

By division, same-store sales rose 2% at Gap and 6% at Old Navy. They fell 5% at Banana Republic.