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Finance & Capital Management

  • NRF asks deficit reduction committee to focus on job growth

    WASHINGTON — The National Retail Federation announced that it has sent a letter to the congressional “super committee” on deficit reduction urging the panel to focus on initiatives that will boost the economy and create jobs.

  • Report: Starbucks to triple stores in China by 2015; open 700 outlets in South Korea

    New York — Starbucks plans to triple the number of outlets it has in China during the next four years, the Associated Press reported.

    The company expects to increase the number of shops in China from 470 now to 1,500 by 2015, Asia-Pacific President Wang Jinlong said on Tuesday.

    Starbucks also plans to open 700 shops in South Korea by 2016, up from 370 now, the report said.

  • Grosvenor Americas makes executive appointments

    Washington, D.C. -- Grosvenor Americas said Wednesday it has appointed Jonathan E. Carr to the position of development manager in the company’s Washington, D.C., office. He previously held the same title in Grosvenor Americas’ San Francisco office.

    The company also announced that Michael Ward has been appointed to the position of VP in the company’s Calgary office. He previously served as VP for Grosvenor Americas in Washington, D.C.
     

  • Conn’s swings to Q2 loss on charges

    Beaumont, Texas -- Conn's said Wednesday it lost $3.4 million in the second quarter, compared to net income of $1.6 million the year before. The company said that the loss was due to one-time charges, which included $3.7 million for closing three stores and $11.1 million for repaying a loan earlier than expected. Without those items, the company would have earned $5.5 million.

    Revenue fell 13% to $184.4 million on declining sales of TVs and computers.

  • Former Thomson Reuters exec takes on new role at eBay

    SAN JOSE, Calif. — eBay has announced that Devin Wenig is joining the company as president of its global eBay Marketplaces business unit, which includes eBay, the world’s leading online marketplace; eBay classifieds sites in more than 1,000 cities worldwide; and StubHub, the world’s largest online tickets marketplace. Wenig will report to eBay Inc. president and CEO John Donahoe.

  • Zale names CIO

    Dallas — Zale Corporation announced that Brad Furry has been named SVP, CIO. Prior to joining Zale, he spent 21 years at The Neiman Marcus Group, most recently as VP enterprise services.

    Furry will have responsibility for all information technology strategy and operations functions throughout the company.

  • American Express study: Consumers opting for less frequent, but larger transactions in retail

    New York — Consumers are spending more, but doing so in fewer transactions, according to American Express Business Insights’ most recent Business Insights Spend Sights report.

    The study, which examines spending patterns across several key categories, U.S. cities and demographic groups, finds that while economic uncertainty continues to dampen overall consumer confidence, a new pattern of less frequent but measurable splurging has become evident among a range of customer groups in several categories.

  • Survey: Retailers plan to open more stores due to lower rents

    Los Angeles -- A report released Tuesday by commercial real estate firm C.B. Richard Ellis said that 59% of U.S. retailers plan to open more stores due to the attractive rental rates available in the current market environment.

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