Finance & Capital Management

Even with a jump in sales, unanticipated operating expenses and e-commerce snafus took a toll on Boot Barn’s fourth quarter for fiscal 2017.   

Duluth Holdings is losing its finance chief.    Mark DeOrio, the company’s CFO, will retire at the end of 2017. DeOrio will remain in his role until the next finance chief is appointed, and he will then assist with his successor’s transition until his retirement. DeOrio has held the role since August 2010. He also served as senior VP of operations from 2010 to January 2015.   

Gymboree Corp. could be filing Chapter 11 sooner than expected.   Struggling to manage its debt and churn a profit, Gymboree missed an interest payment due June 1, for its outstanding 9.125% senior notes due 2018. The missed payment was reported in a filing on Thursday, June 1, by the Securities and Exchange Commission, according to CNBC.   

Teens’ demand for slime to fidget spinners helped boost Five Below’s first quarter sales, comps and earnings well above expectations.   For the first quarter ended April 29, the teen value retailer reported a net income of $8.4 million compared to $6.8 million in the first quarter of fiscal 2016. Meanwhile, the chain’s sales increased almost 21% to $232.9 million, from $192.7 million in the first quarter of fiscal 2016.  

High-end kitchenware retailer Sur La Table is on a mission to optimize its individual market and expansion strategies.   “Now, more than ever, being able to localize is the key to success,” said Ben Rosenfeld, senior VP of stores at Sur La Table.  

Hudson’s Bay Co.’s is taking advantage of the views and design of its iconic Calgary building in a new way.   Through a partnership with restaurant group Oliver & Bonacini, the retailer is transforming the entire sixth floor of its 104-year-old building into an event venue. The 18,000-sq.-ft. space, called The Hudson, features meeting rooms on either side of a large common area, and two large event spaces that can accommodate up to 700 people, according to The Calgary Herald.  

Peloton, a four-year-old startup that sells exercise bikes tied to a live-streamed workout experience, is revving up for expansion armed with fresh capital.   The company announced it has recently closed a $325 million series E financing round, which brings its total valuation to $1.25 billion. The round was led by Wellington Management, Fidelity Investments, Kleiner Perkins, and True Ventures. Other significant investors in this round included Comcast NBCUniversal, GGV Capital, Balyasny, and QuestMark.  

Despite a rough first fiscal quarter, Express remains committed to its ongoing plan to manage costs, optimize its store fleet and improve profitability.   For the quarter ended April 29, the specialty apparel retailer posted a net loss of $4.5 million, or $0.06 per share. This included a net negative $0.03 per share impact related to certain discrete tax items and the exit of Canada.