Finance & Capital Management

Steve Tanger is more than CEO of outlet giant Tanger Factory Outlet Centers – he is also an effective talking head.     Tanger appeared as a featured guest on CNBC's "Mad Money with Jim Cramer" on Thursday, July 28, and talked about the consistent strength of the outlet market despite a volatile retail industry.   

Rethinking its earlier turnaround plans, a century-old Canadian jewelry chain has announced it will shutter all stores.    Winnipeg-based Ben Moss Jewellers, which has sold mid-to-high-priced jewelry since 1910, said it will close the 54-unit chain and has launched going-out-of-business sales that began on Saturday, July 30.     The liquidation efforts are being handled by Gordon Brothers Canada, ULC and Hilco Global (through its Canadian division, Merchant Retail Solutions).  

Lowe's is amping up its distribution game with a new direct fulfillment center near Nashville.   At a square footage of 1.1 million, the facility will be a Lowe's first in that it will ship packages directly to customers.  

Online retail giant Amazon is not looking for a repeat of holiday 2015, when increased fulfillment costs due to a surge in orders took a bite out of its holiday quarter earnings.   The company is adding 18 warehouse facilities this quarter in preparation for the holiday surge, according to a report by Recode. Last year, it added six.  

Deal volume in the retail and consumer sector is up, but deal value is down.   Deal volume in the second quarter in the sector reached its highest level in the past 12 months, with 282 announced deals, up 5% over the first quarter, according PwC’s Q2 2016 retail and consumer M&A report.  

Rent-to-own giant Aaron’s saw its revenues rise but profit drop in the second quarter, and the retailer said it would review its store base going forward.     

Two weeks after its second annual Prime Day surpassed expectations, Amazon’s winning streak continued as it posted its fifth straight quarter of profitability.    The online giant posted adjusted earnings per share of $1.78 for the quarter ended June 30, easily surpassing expectations for $1.11. Net income was $857 million, compared with $92 million in the year-ago period.      

In one of the largest acquisitions in its history, Oracle Corp. has agreed to buy cloud-software provide NetSuite for $9.3 billion, or $109 per share in an all-cash deal, the companies announced Thursday.   “Oracle and NetSuite cloud applications are complementary, and will coexist in the marketplace forever,” said Mark Hurd, CEO, Oracle. “We intend to invest heavily in both products — engineering and distribution.”  

Phillips Edison & Company announced the appointment of Beth Farrell Donnelly as VP and assistant general counsel. She will work with senior VP and General Counsel Tanya Brady to provide legal advice on all aspects of the company’s business.