Finance & Capital Management

South Moon Under is on the move.   The on-trend fashion retailer, which carries a variety of contemporary brands, will open its first stores in the South in April, with locations at Ponce City Market, Atlanta, and Avalon, Alpharetta, Georgia. In the fall, the company will open a store at Shops Around Lenox, Atlanta.    

Publix Super Markets is revving up for growth in the organic and natural foods store space.    Publix announced plans to reignite its GreenWise store concept. The grocer launched the format in 2007, and currently operates three stores under the banner. It has not opened a new GreenWise location since 2008.   

The latest move by Walgreens Boots Alliance in its pursuit of the Rite Aid may be a bet that a Trump-appointed FTC chief will finally push the deal through.  

Rent-A-Center is taking another step toward repositioning the company for profitability.   The furniture retailer’s Acceptance Now division is terminating its referral agreement with Conn’s Appliances. These accounts consistently underperformed compared to the rest of its ANow portfolio in terms of delinquencies, losses and product returns.   

U.S. Auto Parts has a new leader at the helm.   Aaron Coleman has been appointed as the company’s CEO and director, effective immediately. He succeeds Shane Evangelist, who served as CEO and a director since 2007. Evangelist recently resigned.  

Gander Mountain has taken a step toward keeping the brand in business.    The outdoor retailer, which filed for bankruptcy protection on March 13, has filed a stalking horse bid. A joint venture comprised of Gordon Brothers and Hilco Merchant Resources has proposed to purchase substantially all of the retailer’s assets. This stalking horse bid will act as a baseline, in effort to ward off low offers on the chain’s assets.  

Wegmans Food Markets has appointed a familiar name as its new chief executive.   Danny Wegman announced that he is stepping down as chief executive of the family-owned supermarket company and will be succeeded by his daughter, Colleen Wegman, who will serve as president and CEO.    Danny Wegman will assume the title of chairman.  

Gordmans is being rescued from liquidation — at least, part of it.    Stage Stores won a bid to acquire about half of Gordmans’ stores. The Omaha, Nebraska-based department store chain filed for Chapter 11 on March 13.    The retailer’s bid edged out Jeff Gordman, the former CEO of Gordmans, who also made a play to revive the bankrupt 106-store department store chain.   

Excess inventory and markdowns took their toll on H&M’s first fiscal quarter.   For the period spanning December 1, 2016 - February 28, 2017, H&M’s first-quarter pretax profit fell 3.6% to 3.21 billion kronor ($362 million), compared with an average estimate of 3.03 billion kronor. H&M blamed the decline on lower than expected sales growth, as well as higher mark-downs.