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Finance & Capital Management

  • Sears Holdings gives update on restructuring, real estate and finances

    Things aren’t getting any better at Sears Holdings, at least not sales wise.   The struggling chain on Friday provided an update on its restructuring program, increased its cost-saving target, and also gave a first quarter update. Since the beginning of the fiscal year, same-store sales at Sears and Kmart declined 11.9% on a combined basis, 10.8% when excluding consumer electronics, compared to the year-ago period.  

  • Fashion retailer closing all stores

    It’s curtain time for Bebe Stores — or at least its brick-and-mortar operations.  

  • Macy’s celebrates Earth Day with solar deployments

    The nation’s largest department store has increased its deployment of renewable energy.    Macy's Inc. said it installed 21 solar energy systems during the past year at Macy's and Bloomingdale's locations in seven states, totaling 15 meg-awatts. The deployments were done in partnership with SunPower. Elec-tricity generated by the new solar power systems will ultimately be sold to others.  

  • Amazon heads Down Under

    The Australian retail marketplace is in for a huge shake-up.   Amazon is preparing to operate an online store in Australia, offering the country’s consumers access to more categories. Amazon already sells Kindle e-books and readers, Audible audiobooks, and online shoppers can also download apps, but this move will bring “a retail offering to Australia,” according to the e-retailer.  

  • VF Corp. CIO to retire

    VF Corp. is getting a new technology leader.   Martin Schneider, the company’s VP and CIO will retire at the end of 2017. Sandra Harris, VP, global business technology, will succeed Schneider as VP and CIO, effective Jan. 1, 2018. Harris also has been appointed to VF’s senior leadership team.  

  • Shuttered sporting goods retailer back in business

    The game is back on at City Sports Inc.    In 2015, the Boston-based sporting goods retailer filed for bankruptcy and closed its 26 stores. Shortly afterwards, two Wharton-trained brothers, Brent and Blake Sonnek-Schmelz, bought City Sports' intellectual property rights at a bankruptcy auction for $400,000.    

  • Beauty start-up turns profitable

    Birchbox is no longer in the red.   The online subscription beauty retailer has achieved profitability, MediaPost reported, and is returning to television advertising with a spot that speaks to the joy the company’s monthly beauty box brings to its customers.   Founded in 2010, Birchbox had a tough 2016 during which it cut costs and laid off staff. But investments in technology and automation have helped it turn a corner.    

  • Walmart-shadowed center in Orlando up for sale

    Sand Lake Corners North, a 151,487-sq.-ft. community center in Orlando, Florida, has been put up for sale. Transwestern is serving as broker for the property at 8115 – 8379 S. John Young Parkway.   According to Transwestern, tenants with long-term leases fill more than 90% of the center, which is located in Orlando’s tourist corridor and is surrounded by corporate campuses, including the SouthPark Center that comprises 2.9 million sq. ft. of office space.  
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