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Finance & Capital Management

  • Big earnings, sales miss for Macy’s

    Macy’s reported disappointing earnings for its first quarter, as its sale continued to slide.    Macy's posted a first quarter profit of $71 million, or 23 cents a share, down from $116 million, or 37 cents a share, in the year-ago period. Excluding some costs, Macy's adjusted per-share profit fell to 24 cents from 40 cents, below analysts' expectations for 35 cents.   

  • Sporting goods giant shakes up leadership team

    Dick’s Sporting Goods has made several changes in its executive team, including naming a former Target executive as its chief merchant.   The company said that André Hawaux is retiring as executive VP, COO. He will remain with Dick’s through the second quarter of 2017. Dick’s did not name a replacement for Hawaux.   

  • Kohl’s Q1 profit up sharply but sales still slide

    Kohl’s Corp. posted mixed results for its first quarter, as sales continued to decline but profit jumped amid expense control and more careful inventory management.    The retailer reported net income of $66 million, or 39 cents per share, in the quarter ended April 29, up from $17 million, or nine cents per share, in the year-ago quarter. The gain, much better than expected, came as the company cut general expenses by $33 million.   

  • Retail Operators on the Ropes

    As Congress reconvened after Easter, retail operators had a tremendous amount at stake. The industry is in an unprecedented state of strife with major legacy brands announcing large-scale closures.

    If that’s not enough, here is another one to consider: Roughly 80,000 retail workers lost their jobs in the past year, a total that is greater than the number of workers in the entire coal industry. Clearly the disruptive impact of the online economy is quickly and permanently taking its toll on traditional retail operators.

  • Better Energy Savings

    Retailers looking for dramatic energy savings at the lowest cost should think radical – and that means using an integrated design process right from the start.

    “Radically efficient buildings are, among other things, 75% more energy efficient than typical construction” said Paul Westbrook, president of RE:source consulting, at the SPECS session, “An Improved Road to Energy Savings.”

  • Rent-A-Center veteran exec returns

    The nation's largest rent-to-own operator has a new chief operating officer.     Rent-A-Center appointed Joel M. Mussat as executive VP, COO, effective May 5, 2017. He brings more than 20 years of experience in operations, retail strategy and the rent-to-own industry.  

  • The Best at Managing Change

    Opportunistic acquirers continue retail’s reinvention, making business good for creative management companies

    Unusual circumstances are forging the best of times for third-party shopping center managers. Rampant store closings, after-effects of the commercial mortgage backed securities crash, and opportunistic buyers are creating opportunities for innovative managers to reinvent properties for their clients.

  • The Discipline of the Deal

    Whether purchasing individual assets or restructuring entire portfolios, top acquirers have plans and stick to them.

    Stick to your knitting. That appears to be the mantra for this year’s top acquirers, all of which, save one, have appeared on this list in previous years. Most relate that, in the late stages of a recovery, discipline, tenacity and structure are key to closing deals. This year, staffers at two of these tenacious companies can chant, “We’re No. 1!”

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