Finance & Capital Management

Two heavy hitters in the Canadian real estate market are eyeing Sears Canada properties — but not its Home Stores.   RioCan Real Estate Investment Trust, and a unit of H&R Real Estate Investment Trust are among potential bidders interested in Sears Canada assets. They are two of the biggest players in the Canadian real estate marketplace, according to Bloomberg.  

Rent-A-Center is being selective about potential business opportunities.   According to sources, the nation’s largest rent-to-own company brushed off takeover interest from private equity firms HIG Capital and Lone Star Funds. The snub took place prior to turning down an offer of $800 million from buyout firm Vintage Capital earlier this month, according to Reuters.  

The search is over.    The Buckle named Thomas B. Heacock as VP of finance, treasurer and CFO, effective July 20. As CFO, he replaces Karen B. Rhoads, who in May announced her intention to retire. Rhoads will assist in the transfer of her duties and responsibilities to Heacock, and will continue to serve as a member of the company’s board.   

Softness in larger product categories and unseasonal weather in the Northeast dampened MarineMax’s third quarter earnings.    For the third quarter ended June 30, MarineMax’s revenues declined to $329.8 million from $345.6 million for the same period last year. This missed Wall Street’s expectations of $383.01 million.  

Against all odds, bankrupt RadioShack is still ticking.   An affiliate of Kensington Capital Holdings will acquire RadioShack’s intellectual property after it submitted a $15 million bid, Reuters reported. Kensington is already owned $23 million by the retailer, dating back to a loan it gave the company some two years ago.  

An industry veteran has been tapped to lead operations at of the nation's fastest-growing fast-casual restaurant companies.    Mod Super Fast Pizza Holdings has appointed  Paul Twohig to the new role of COO,  effective immediately. The appointment comes as the company continues its rapid expansion in the United States and abroad. With Twohig’s arrival, Chris Schultz, former senior VP of operations, will take on the new role of senior VP, international to lead Mod’s development abroad.  

Fred's named Jason Jenne as executive VP and CFO. He will replace outgoing CFO Rick Hans, who is leaving to pursue other opportunities. Hans will stay onboard as an advisor until August 18, to ensure a smooth transition.  

An important demographic for many retailers appears to be staying home more these days.   In remarks at  Fortune’s Brainstorm Tech Conference in Aspen, Colorado, Target CEO Brian Cornell cited an 11% dip in shopping activity among Hispanic consumers in the past several months. (A Target spokesman said later he was referencing industrywide data from the NPD Group, The Star-Tribune reported.)   “There’s almost a cocooning factor,” Cornell said.  

Businesses are eager to better serve their clients, but most lack the skills, processes and technology needed to leverage data effectively.   In fact, 61% of U.S. companies agree that inaccurate data is undermining their ability to provide an excellent customer experience, according to “Investing in Digital Transformation: The Year’s Most Sought-After Data Roles,” a report from Experian Data Quality.  

Pizza Hut is making big moves to improve the accuracy and reliability of its delivery experience.   The subsidiary of Yum! Brands plans to hire nearly 3,000 new drivers a month through the end of the year. The hiring effort, which will include full and part-time positions, will add approximately 14,000 new drivers across its delivery fleet, according to the company.