Finance & Capital Management

SALT LAKE CITY — Black Diamond, a provider of outdoor recreation equipment and active lifestyle products, beefed up its senior leadership team with four new hires. The newly created positions are intended to bolster the company’s operational and sales teams, domestically and internationally.

"These four exceptional new hires mark the culmination of our two-year process to invest in the people necessary to support our global platform," said Peter Metcalf, president and CEO of Black Diamond.

New York -- J. Crew Group reported Thursday that net income for the third quarter rose to $33.2 million, from $21.6 million in the prior year.

Revenues increased 16% to $555.8 million, and same-store sales increased 10%.

Kroger extended its same store sales winning streak to 36 consecutive quarters and reported better than expected profits Thursday.

The grocer reported a third quarter adjusted profit of 46 cents a share that exceeded analysts’ consensus estimate by three cents and said its identical store sales grew by 3.2%. Total sales, including fuel, increased 5.9% to $21.8 billion

Seattle -- Nordstrom announced plans to open a store at Mayfair, in Wauwatosa, Wis., the largest mixed-use shopping center in the state. Scheduled to open in 2015, it will be the retailer’s first full-line store in the greater Milwaukee area. Mayfair is owned by General Growth Properties.

The company plans to open an approximately 140,000-sq.-ft., three-level store. Nordstrom will join Macy's, Boston Store, Crate & Barrel and the Apple Store at Mayfair.

Sandpoint, Idaho -- Coldwater Creek Inc. announced that co-founder Dennis Pence will retire as president and CEO, effective December 31, 2012. He will remain as a director and continue to serve as chairman of the board until January 1, 2014.

Pence will be succeeded as president and CEO by Coldwater president and chief merchandising officer Jill Brown Dean, effective January 1, 2013. Dean has also been appointed to serve on the board of directors, effective January 1, 2013.

CINCINNATI — Good news for Macy’s, which has closed the cash tender offer by its wholly owned subsidiary, Macy’s Retail Holdings, Inc., to purchase up to $700 million in aggregate principal amount of its outstanding debt securities.

“Through this transaction and our recent debt issuance, we have successfully improved our debt maturity profile and decreased our ongoing interest expense,” said Karen M. Hoguet, Macy’s, Inc. CFO.

Specialty retailer Express said its same store sales for the third quarter ended October 27, declined 5% and profits declined to $17.4 million, or 20 cents a share, compared to $32.7 million, or 37 cents a share.

Total sales for the period declined 4% to $468.5 million and gross margins contracted to 32.3% of sales from 36.2% of sales the prior year. Expenses increased to 25.1% of sales form 23.6% of sales.

By Brendan W. Walsh, [email protected]