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Finance & Capital Management

  • Regency taps Mas to direct finance

    Regency Centers has promoted 14-year veteran Michael Mas to managing director of finance. In this role, he will oversee capital markets, co-investment partnerships, investor/lender relations, underwriting, and due diligence of new investments and information technology.   Mas was senior VP of capital markets prior to the promotion and earlier directed financial and operational aspects of joint ventures for the Jacksonville-based owner, operator, and developer of grocery-anchored centers.  

  • Report: Christian bookstore to close all 200-plus locations

    Family Christian is going out of business.   The company said Thursday, Feb. 23 that it plans to close all 240 stores across 36 states, according to Reuters.    Family Christian filed for Chapter 11 bankruptcy in February 2015 with more than $120 million in debt. Since then, the chain continued to face a sales slump amid growing competition from online stores.  

  • Survey: Trump will be good for commercial real estate

    Seven out of 10 commercial real estate executives believe that the Trump administration will have a positive impact on their business in 2017.   Seyfarth Shaw, one of the most active real estate law firms in the U.S., polled 151 owners, developers, and brokers and found them bullish on the embattled President. They foresee efforts in deregulation, tax reform, and the potential dismantling of Dodd-Frank as aiding their causes.  

  • Supermarket retailer promotes COO

    Raley’s has given COO Keith Knopf the additional title of president.   Raleys owner & CEO, Michael Teel announced the promotion of Knopf, who joined the company nearly two years ago, around the time Teel took majority ownership of the company. Teel will continue to direct the development of Raley’s overall strategic plan.  

  • Penney announces profit—and plans to downsize store fleet

    J.C. Penney on Friday announced plans to close stores and reduce its workforce even as it reported its first profit since 2010.    In one of its deepest cuts to date, the retailer said it will close 130 to 140 stores, which represent about 13% to 14% of its total, 1,014 store base. The locations to be shuttered are unprofitable, Penney said, and generated less than 5% of total annual sales.     

  • Canadian retailer posts lower Q4 sales

    Weaker results in its European, Saks Off 5th and Gilt operations contributed to lower fourth quarter sales for Hudson’s Bay Company   For the fourth quarter ended January 28, 2017, the company’s consolidated comparable sales decreased 1.2%. Specifically, DSG (Hudson’s Bay, Lord & Taylor and Home Outfitters) same-store sales increased 0.6%, and Saks Fifth Avenue comparable sales increased 0.1%.   

  • Improving Gap delivers good news

    A jolly holiday season helped Gap Inc. post fourth-quarter earnings and sales that beat expectations, leading to speculation that the chain’s turnaround may be starting to take hold.    The nation’s largest apparel retailer reported net income of $220.0 million, or 55 cents per share, up from $214.0 million, or 53 cents per share, last year.   Sales totaled $4.43 billion, up from $4.39 billion and ahead of the $4.41 billion analysts had expected.   

  • Off-price unit helps Nordstrom beats Q4 profit estimates

    Nordstrom Inc. reported better-than-expected profit for its fourth quarter amid a strong performance by Nordstrom Rack and cost cuts.    The department store retailer reported that it earned $201 million, or $1.15 per share, for the quarter ended Jan. 28, compared with $180 million in the year-ago quarter. Excluding certain items, the adjusted earnings came to $1.37 per share. Analysts had estimated $1.15 a share on average.  

  • L Brands’ same-store sales flat, lowers 2017 outlook

    L Brands is preparing for steep losses in the near-future, specifically across its Victoria’s Secret brand.    For the quarter ended January 28, 2017, net sales were $4.489 billion, an increase of 2% compared to $4.395 billion for the quarter ended January 30, 2016. The company’s net income was $631.7 million compared to $636 million last year.  

  • Report: Sears slashes HQ jobs

    On the heels of announcing a comprehensive restructuring plan, Sears eliminated 130 jobs at its corporate office on Thursday, Feb. 23.   The layoffs, which are part of a $1 billion cost-cutting plan, were relayed in an email sent to corporate employees Thursday afternoon, according to Business Insider.   
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