Finance & Capital Management

The retail environment in Canada is proving more challenging than some U.S. retailers had anticipated.     Express said it will close all 17 of its stores in Canada, and discontinue its Canadian operations through its Canadian subsidiary, Express Fashion Apparel Canada Inc. The retailer will continue to operate 635 stores in the United States.      

The United Kingdom is preparing for Amazon’s newest technology hub — a lab that will focus on innovations from artificial intelligence to machine learning.   The online giant plans to open a new 60,000 sq. ft. development center in Cambridge this fall. The facility will have the capacity to employ more than 400 associates, including machine learning scientists, knowledge engineers, data scientists, mathematical modelers, speech scientists and software engineers.  

Amazon’s fashion journey may have just hit a bump in the road.   Cathy Beaudoin, the online giant’s president of fashion, has left her post — a position she has held for eight years, reported Business of Fashion.  

Crate & Barrel has named a new chief executive some three weeks after it let its former one go.   The home furnishings chain has appointed Neela Montgomery as CEO. Montgomery, most recently served as board chair of Crate & Barrel parent Otto Group, will assume the role effective August 1, 2017. She replaces Doug Diemoz, who left in April. http://www.chainstoreage.com/article/crate-barrel-ceo-out  

It seems the party is over between Macy’s and Tailored Brands’ Men’s Wearhouse.  

Mobile ads and solid user growth across its suite of apps contributed to a strong first quarter for Facebook.   For the quarter ended March 31, revenue rose 49% to $8.03 billion, from $5.38 billion in the same period a year earlier. This surpassed analyst predictions of $7.83 billion. Based on this quarter’s earnings, Facebook has exceeded analyst expectations for eight straight quarters.   

Controlling physical assets — and adhering to compliance requirements — can become daunting as chains grow.   To streamline the process, Sephora is adding lease management software from Accurent. Specifically, the software will enable the beauty giant to manage leases for more than 400 locations in the United States, Canada and Puerto Rico.  

The fast-growing Floor & Decor Holdings announced the closing of its initial public offering.   The company’s shares are now trading on the New York Stock Exchange under the symbol “FND.” Founded in 2000, Floor & Decor is a multichannel specialty retailer of hard surface flooring and related accessories. It offers a broad in-stock assortment of tile, wood, laminate and natural stone flooring along with decorative and installation accessories.