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Finance & Capital Management

  • Upcoming gift-card change could have bottom-line impact

    An accounting change could give a big boost to retailers' earnings.   The new Financial Accounting Standards Board, or FASB, revenue-recognition rule (ASC 606) goes into effect for public companies in 2018. One of the major implications of the new rule involves how the unredeemed dollar portion of company-issued gift cards, called breakage revenue, is recognized, according to a report by MarketWatch. The change will impact everyone who issues gift cards, including both online and offline retailers.    

  • How one South Dakota mall continues to thrive

    Its Macy’s and J.C. Penney’s continue to do business. In-line stores close, but new tenants quickly assume their spaces. Shoppers continue to arrive from as far as 75 miles away.   The Empire Mall in Sioux Falls isn’t exactly bucking trends. It’s merely an example of a core precept of retail which states that malls will survive where jobs and rooftops are rising, according to a report in the local Argus Leader.   

  • Staples acquired in blockbuster deal

    The nation's largest office supply retailer is returning to private ownership.   Private equity firm Sycamore Partners has acquired Staples for $10.25 per share for cash. The deal is valued at about $6.9 billion.      

  • Fred's Pharmacy adopts poison pill ahead of merger deadline

    Fred’s Pharmacy is taking action to protect itself as the deadline for the Federal Trade Commission’s decision on Walgreens Boot Alliance’s proposed acquisition of Rite Aid merger draws closer.  

  • Under Armour taps former Aldo CEO for key role amid management changes

    Under Armour founder and CEO Kevin Plank is stepping back from his role as president.   The sporting goods company announced that retail veteran Patrik Frisk will become president and COO, effective July 10. He will have responsibility for the company's go-to-market strategy and the successful execution of its long-term growth plan and report directly to Kevin Plank, who has also held the title of president since 2010.  

  • Supervalu exec joins Kohl's leadership team

    Kohl's has ended its search for a new finance chief.   The retailer has appointed Bruce H. Besanko to the position of CFO, effective July 10.  He will replace Wesley McDonald, who announced plans in November to retire this spring after 14 years with the company.  

  • Supermarket giant on hunt for CFO

    Supervalu Inc. is losing its chief finance officer.   The company announced that Bruce Besanko plans to resign as executive VP, COO and CFO effective July 5, 2017 to pursue an outside opportunity.  

  • Regulatory Wrap-Up: Where state and national policy impact retail

    Wages

    California: A state overtime pay bill that matches the salary threshold of the Obama administration’s overtime regulation at $47,476 passed the Assembly and now heads to the Senate. The federal regulation is currently on hold due to a court injunction and Labor Secretary Acosta is expected to rescind the rule. New York recently instituted an overtime rate at a similar level.
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