Finance & Capital Management

Retail executives know their industry is going though fundamental and massive change, but that doesn’t mean they are taking action to deal with it.   

Conn’s has found a new third-party lease-to-own partner.   The retailer said it has formed a partnership with Progressive Leasing, a subsidiary of Aaron’s, to provide lease-to-own payment solutions to customers who do not qualify for Conn’s proprietary credit offering.   Conn’s has entered into an exclusive three-year agreement with Progressive Leasing to offer Conn’s customers Progressive’s lease-to-own program.  

This week, the Senate Judiciary Committee considered the nomination of Judge Neil Gorsuch to the United States Supreme Court. Since vacancies on the bench are rare and the political stakes so high, few spectacles in Washington D.C. invite this level of drama. He was confirmed by the committee but when his nomination eventually goes to the floor of the Senate for a vote, the real fun will begin. (See “nuclear option.”) Lost in the hype is what his eventual seat on the court will mean to retail operators.  

  A just-released analysis of the U.S. retail sector offers positive news for an industry that has been subject to some gloomy assessments in recent times.   Despite the rash of recent Chapter 11 filings and store closings, the U.S. retail sector as a whole remains incredibly strong and shows no signs of slowing down, according to a report by business intelligence firm Creditsafe USA.  

The woman whose quirky, eclectic personal style came to define J. Crew — and who is the No.2 executive at the company — is leaving.    Jenna Lyons, president and executive creative director, is stepping down from the struggling retailer. She will remain with J.Crew as a creative advisor until her contract expires in December 2017.     

Gander Mountain has taken a step toward keeping the brand in business.    The outdoor retailer, which filed for bankruptcy protection on March 13, has filed a stalking horse bid. A joint venture comprised of Gordon Brothers and Hilco Merchant Resources has proposed to purchase substantially all of the retailer’s assets. This stalking horse bid will act as a baseline, in effort to ward off low offers on the chain’s assets.  

The latest move by Walgreens Boots Alliance in its pursuit of the Rite Aid may be a bet that a Trump-appointed FTC chief will finally push the deal through.  

South Moon Under is on the move. The on-trend fashion retailer, which carries a variety of contemporary brands, will open its first stores in the South in April, with locations at Ponce City Market, Atlanta, and Avalon, Alpharetta, Georgia. In the fall, the company will open a store at Shops Around Lenox, Atlanta.