Finance & Capital Management

BERLIN, N.J. — A.C. Moore Arts & Crafts saw sales for its second quarter decrease 0.8% to $99 million from $99.9 million last year. According to the company, the decrease was primarily due to a decrease in comparable-store sales of 0.7%. Net loss for the quarter was $7.9 million, or 32 cents per share, compared with a net loss of $9.7 million, or 40 cents per share in the second quarter of last year.

APOPKA, Fla. – Winn-Dixie announced the opening of the first of several remodeled stores in Central Florida Wednesday as the company looks to reposition itself as the grocery destination in the area.

The store, located in Errol Plaza, is one of 17 planned store remodels. The company expects to invest approximately $5.5 million per store.

PLANO, Texas — Dr Pepper Snapple Group has announced that Carolyn Ross, VP investor relations, will assume leadership of the company’s investor relations function, reporting directly to CFO Marty Ellen.

EL SEGUNDO, Calif. — Things are tough out West. Just ask Big 5 Sporting Goods, which reported another quarter of disappointing results as it continues to buck strong headwinds in the 12 Western states where its 395 stores are located.

DEERFIELD, Ill. — Walgreens on Wednesday reported July sales of $5.82 billion, an increase of 4.7%.

Apopka, Fla. -- Winn-Dixie said it has opened its fourth new-format grocery store, this one in Central Florida, on Wednesday, as part of its rollout of an enhanced neighborhood market concept.

The newest store, located in Errol Plaza, is one of 17 planned store remodels. The company expects to invest approximately $5.5 million per store.

Plano, Texas -- In a notification to Connecticut’s labor department, J.C. Penney Co. said it will lay off 442 workers at J.C. Penney’s distribution center in Manchester, Conn.

According to the notice, J.C. Penney is closing the facility's dot-com unit, and that employees' last day will be Sept 30.
 

JACKSONVILLE, Fla. — Winn-Dixie Stores announced that it expects to report net sales of approximately $6.9 billion compared with $7 billion for the prior fiscal year (which included an extra week), reflecting a 0.1% decrease in identical-store sales. Net loss from continuing operations is expected to be approximately $30 million or 54 cents per diluted share, compared with net income from continuing operations of $37 million or 67 cents per diluted share for fiscal 2010. 

NAPERVILLE, Ill. — Not that anyone needed it, but weak second-quarter sales at OfficeMax provided additional evidence this week that the nation’s business climate remains exceedingly challenging.

ACE Hardware CFO and EVP Dorvin Lively is leaving the Oak Brook, Ill.-based hardware co-op to  pursue other interests.

Lively joined Ace about three years ago and was promoted to EVP in January 2011. On an interim basis, Lori Bossmann will oversee the finance department, while the co-op searches for a new CFO.

Lively was a professional accounting fellow at the Financial Accounting Standards Board in the early 1990s. He later became a senior VP and corporate controller at Toys “R” Us before moving on to Maidenform Brands, and then to Ace Hardware in 2008.