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Finance & Capital Management

  • Regional drug chain chief exec resigns

    Bartel Drugs is on the hunt for a new CEO.   Brian Unmacht resigned his post two weeks ago after two years on the job, senior communications manager Ric Brewer confirmed to Drug Store News.   “He left Bartells two-weeks ago to pursue professional and personal goals that he has,” Brewer said. “Our Executive Team is now running day-to-day operations until the search for a new CEO begins.”  

  • Unemployment dips to 4.5%, but retail jobs continue to take a hit

    The country’s unemployment rate fell to 4.5% in March, but a volatile retail landscape continues to negatively impact merchant’s payrolls.    The U.S. economy added 98,000 jobs last month, versus 180,000 expected by economists surveyed by Reuters.   However, the number of unemployed persons declined by 326,000 to 7.2 million.  

  • Report: Fred’s could receive cash infusion to help purchase Rite Aid stores

    Fred’s plan to purchase at least 865 divested Rite Aid stores may be getting a step closer to becoming a reality.    More than one prominent investor has recently approached Fred’s Pharmacy with the intention of investing money in the operator of 601 locations in 16 states, according to the New York Post.  

  • Hudson’s Bay Co. taps Toys “R” Us exec to head up European division

    Hudson’s Bay Co.’s newest executive is joining the company just in time to lead the European division’s next phase of development.   Dr. Wolfgang Link will become CEO of HBC Europe, effective May 1. He will lead the expansion and growth strategy for the department store’s European business, including Galeria Kaufhof, Galeria Inno, and the entrance of Hudson’s Bay and Saks OFF 5TH. Reporting to HBC’s CEO Jerry Storch, Dr. Link will also oversee the European management team.  

  • Online retail giant in big part-time worker push

    Amazon continues its hiring spree.    The company announced Thursday that it plans to add more than 30,000 part-time positions in the United States over the next year.  The new positions are on top of the previously announced 100,000 full-time U.S. jobs Amazon will add during the next 18 months.   Some 5,000 of the new part-time hires will be in Amazon’s  Virtual Customer Service program, which offers employees the flexibility to work from home as a customer service agent. 

  • Convenience store giant makes $3.3 billion acquisition

    7-Eleven has accelerated its U.S. expansion by entering into the largest acquisition in its history.    The c-store retailer has agreed to buy the Sunoco chain of gas stations, which includes some 1,108 convenience stores located in 18 states, for a reported $3.3 billion.   

  • Bebe to close 21 locations

    In a move to avoid filing Chapter 11, the fashion retailer is planning to shutter approximately 12% of its stores.   The closures will incur an impairment charge of approximately $2.0 million and will make a termination payment to the landlord of approximately $7.4 million, according to a filing the chain made on April 4, with the Securities and Exchange Commission.   

  • Report: Teen specialty retailer could file Chapter 11 as soon as this month

    Rue21 could be the next chain headed toward bankruptcy.   The teen apparel retailer, which is backed by private equity firm Apax Partners, is preparing to file for bankruptcy as soon as this month, according to Bloomberg.    

  • Report: Walmart slashing jobs in U.S. IT division

    The retail giant is reorganizing its U.S. technology division — a move that will impact about 10% of its workforce.

    Sources familiar with the situation said that Walmart will eliminate 300 jobs across its information systems division (ISD). The layoffs at ISD in the chain's Bentonville headquarters began this week and are expected to continue through the month, according to Talk Business & Politics.

  • Bed Bath & Beyond’s Q4 finishes strong

    After three quarters of missing analyst estimates, Bed Bath & Beyond’s fourth quarter ended on a high note, and beat expectations.

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