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Finance & Capital Management

  • Washington Spotlight: Big Wins for Retailers

    As retail operators return to work this week after what was hopefully a busy Memorial Day weekend for them, they should be encouraged by some rare good news out of Washington, D.C. The industry had some big wins last week on very important issues. Republican House leaders wisely decided to remove language from the popular CHOICE Act that would have repealed the debit card swipe fee reforms the industry fought hard to pass in 2010.  

  • Consumer confidence slips in May

    Wary about business conditions and jobs, consumer confidence dipped a bit further in May. But consumer still remain optimistic on the whole about the economy.     The Conference Board said Tuesday that its Consumer Confidence Index fell to 117.9 in May, from a revised 119.4 in April. The index hit 124.9 in March, its highest mark in 16 years.  

  • It’s a tenants’ market at retail centers

    Despite the rash of recent store closings, leasing activity is strong at malls and shopping centers as retailers take advantage of favorable terms.   That’s the take of Mizuho Securities analysts following conversations with major broker organizations at the International Council of Shopping Centers RECon Show in Las Vegas last week.   

  • Home furnishings retailer confirms new CEO

    It's official: Crate and Barrel has confirmed that CEO Doug Diemoz has left the company.   Crate and Barrel announced Tuesday that board chair Neela Montgomery will become the new chief executive, effective August 1. In the interim, Montgomery will continue in her current position, working closely with Crate and Barrel president and chief merchant Steve 'Woody' Woodward, and COO Mike Relich.  

  • Bankrupt footwear retailer may close more stores

    Payless ShoeSource is seeking bankruptcy court approval to close more stores.   The chain, which filed for Chapter 11 bankruptcy protection at the beginning of April, may close up to 408 more stores, according to the Chicago Tribune. Payless had originally said it planned to shutter nearly 400 underperforming locations.   

  • Blowout quarter for Costco

    Costco Wholesale Corp. came roaring back in its third quarter as it topped analysts' earnings and sales expectations amid strong U.S. sales.   

  • Office supplies giant still weighing takeover offer

    Staples Inc. has rejected a buyout offer.   The company turned down a takeover offer from Cerberus Capital Management, saying it was too low, Bloomberg reported. However, another private equity firm, Sycamore Partners, is still in the running to acquire Staples.      The bid from Cerberus valued the retailer at more than its current market value of about $5.8 billion, according to Bloomberg.   

  • Coach launches offer to acquire

    Coach has made it official.   The upscale handbag and accessories retailer launched a formal tender offer to acquire Kate Spade & Company for $18.50 per share in cash. Coach announced its plans to acquire the brand at the beginning of May, in a deal that has a total value of $2.4 billion.   
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