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Finance & Capital Management

  • Growth retailer Rue21 expands board

    Yankee Candle Company president and CEO Harlan Kent is the newest member of the specialty apparel retailer Rue21’s board of directors.

    Rue21 is a rapidly expanding specialty apparel retailer that currently operates 810 stores in 46 states

  • Macy’s same-store sales rise 4.2% in May on strength of online

    Cincinnati -- Macy’s reported Wednesday that same-store sales for the month of May increased 4.2% compared with the previous year. Revenue rose 4.1% to $2.02 billion.

  • Ackman on J.C. Penney: Wait until August

    New York -- William Ackman, founder and CEO of Pershing Square Capital Management, said that J.C. Penney Co. should start to see “real progress” in early 2013. Ackman made his comments in an interview Tuesday on CNBC’s “Squawk Box.” Pershing Square owns about 18% of J.C. Penney.

  • Fresh Market Q1 profit soars 43%; on track to open up to 16 stores in 2012

    Greensboro, N.C. -- Fresh Market reported Wednesday that profit for the first quarter climbed 43% to $19.3 million, from $13.5 million in the year-ago period.

    Revenue rose 23% to $324.8 million, compared with $264.5 million in the previous year and surpassing Wall Street’s expected $310.6 million in revenue.  Same-store sales increased 8.2%. The strong performance across the board prompted the grocer to bump its outlook for the year.

  • Jos. A. Bank Q1 profit declines

    Hampstead, Md. -- Jos. A. Bank Clothiers reported Wednesday that net income for the quarter ended April 28 shrank to $14.8 million, from $17.8 million in the year-ago period.

    Revenue rose 4.2% to $201.4 million, from $193.3 million. Same-store sales dipped 1%.
     

  • May sales growth gives Fred's solid start in Q2

    MEMPHIS, Tenn. — May sales at Fred's Inc. increased 6% to $152.1 million from $143.6 million in May 2011. Comparable-store sales for the month rose 1.3% compared with an increase of 0.2% in the same period last year.

    Fred's total sales for the first four months of fiscal 2012 increased 4% to $652.6 million compared with $628 million for the same period last year. On a comparable-store basis, year-to-date sales increased 0.1% on top of an increase of 0.8% in the same period last year.

  • RILA responds to New Jersey sales tax agreement

    Washington, D.C. -- The Retail Industry Leaders Association (RILA) issued the following statement in response to the announcement that New Jersey Governor Chris Christie has reached an agreement with Amazon.com requiring the online retailer to begin collecting state sales tax on purchases made in New Jersey by July 1, 2013.

    "Today's announcement ends the practice of giving out-of-state retailers like Amazon.com an unfair advantage over those retailers who are an integral part of communities across New Jersey," said RILA president Sandy Kennedy

  • Glimcher acquires One Nineteen open-air center for $67.5 million

    Leawood, Kan. -- Columbus, Ohio-based Glimcher Realty Trust said Wednesday it has completed the acquisition of One Nineteen, an outdoor retail center located in Leawood, Kan.

    One Nineteen is adjacent to Glimcher’s Town Center Plaza and will add approximately 165,000 sq. ft. of GLA to the combined property.  Tenant sales at One Nineteen average more than $900 per sq. ft., and the center is currently 93% leased featuring Kansas City’s first and only Crate & Barrel and lululemon athletica, as well as an Apple store.

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