Skip to main content

Finance & Capital Management

  • Unexpected drop for Signet Jewelers

    Signet Jewelers Ltd. reported its first drop in same-store sales in six years in its second quarter as the company continues to deal with rumors that it swapped expensive diamonds for cheaper stones.   Signet, whose banners include Zale, Kay Jewelers and Jared, posted a 2.3% drop in same-store sales in the quarter ended July 30. Wall Street analysts had expected a slight increase.   Net sales fell 2.6% to $1.37 billion.  

  • Specialty menswear retailer swings to profit in Q2

    Destination XL Group Inc. reported a profit in its second quarter amid the ongoing strength of its DXL larger store format.   The retailer of big and tall apparel for men posted net income for the second quarter of $0.2 million, compared with a net loss of $1.0 million in the year ago period.  

  • New finance chief for Michaels

    The Michaels Companies, named Denise Paulonis as executive VP – CFO, effective Aug. 29. The appointment is part of the retailer’s previously announced CFO succession plan.   Paulonis, currently senior VP – finance, succeeds Chuck Sonsteby, vice chairman and CFO. He will continue to serve as vice chairman and will retain executive responsibility for the growth and integration of Lamrite West and the management of Aaron Brothers stores.    

  • Sears’ losses mount in Q2; accepts loan from Eddie Lampert

    Sears Holdings Corp. swung to a loss amid declining sales in the second quarter, and chairman and CEO Eddie Lampert stepped in with more financing for his embattled company.   Sears said it had accepted a $300 million debt-financing offer from Lampert’s hedge fund, ESL Investments Inc. The loan is secured by a junior lien against Sears's inventory, receivables and other working capital.  

  • Dollar Tree Q2 sales disappoint

    A little over one year since it acquired rival Family Dollar, Dollar Tree reported revenue that missed Wall Street expectations amid lower customer traffic.     Dollar Tree and other discounters are also feeling the impact of a recent change by some states regarding the criteria for the Supplemental Nutrition Assistance Program (SNAP), which has made thousands of households ineligible for benefits.      

  • Five Below’s store count to reach big number

    Five Below continues its rapid expansion.   The extreme-value retailer will open its 500th store in Trexlertown, Pennsylvania, on Sept. 9.  

  • Dollar General Q2 sales fall short

    Dollar General Corp. reported lower-than-expected revenue for the second quarter amid increasing competition and reduced food stamp coverage.   The company’s net income was $306.52 million, or $1.08 per share, in the quarter, compared to net income of $282.35 million, or $0.95 per share, in the year-ago period.   Net sales increased 5.8% to $5.39 billion, compared to $5.10 billion last year.   

  • Not enough of a good thing

    With few new grocery centers being built, developers are upping the ante on existing ones

    Pat Donahue, together with his late brother Dan and business partner Tom Schriber, has been in grocery-anchored shopping centers since the ’90s. That’s when Schriber calculated that the company’s long-term fortunes, which had rested on mall development up until then, would be better wagered on high-traffic “necessity-based” retail.

    “At malls you get ’em three times a month.

  • Ikea Plugs In More Fuel Cells

    Ikea is expanding its renewable energy commitment with state-of-the-art fuel cell technology.

    Based on the success of a pilot installation, the Swedish home furnishings retailer plans to install biogas-powered fuel cell systems at four stores in California.

    A year ago, Ikea completed installation of a similar project at its location in Emeryville, Calif., one of the company’s two San Francisco-area stores.

  • Target Gets ‘Smart’ About Lighting

    Target is taking its lighting to the next level. The retailer tapped Acuity Brands to provide Target stores with smart lighting technologies, featuring energy-saving LED fixtures and dimming controls. Target will be exclusively installing Acuity’s next generation, smart LED sales floor fixtures, along with its store accent lighting and distribution center site lighting.

X
This ad will auto-close in 10 seconds