Finance & Capital Management

The failure of President Trump and the Republicans in Congress to repeal and replace the Affordable Care Act was shocking enough for business owners but it is the road ahead that should give operators some real heartburn.  

The parent company of Dunkin' Donuts and Baskin-Robbins announced that Paul Carbone, CFO, is leaving the company effective April 21, 2017.  

A combination of sluggish mall traffic, a shaky sporting goods industry, and poorly performing merchandise took a toll on The Finish Line in the fourth quarter and fiscal 2016.  

The Pinnacle Nord du Lac Shopping Center on the north end of the world’s longest bridge — the Lake Pontchartrain Causeway — is adding about 30% to its size.   Property owner Cypress equities has begun construction on an 94,500 sq. ft. of GLA that will house new lifestyle retail and restaurants at the Covington, Louisiana, center that currently spans 327,000 ft.  

Highly promotional activity and increased multichannel initiatives not only helped Shoe Carnival hit its expectations, but exceed $1 billion in net sales for the year.   For the quarter ended January 28, 2017, the retailer’s net sales were $234.2 million, a 0.2% increase, compared to net sales of $233.7 million for the fourth quarter of fiscal 2015. While it was in line with its goals, this was just shy of Wall Street’s prediction for sales of $235 million.  

The baton has officially been passed at Macy’s.   Jeff Gennette has been named as the department store chain’s new CEO, succeeding Terry Lundgren, who will continue as executive chairman.   Gennette, who has served as Macy’s president since 2014, is Lundgren’s handpicked successor. Prior to becoming president, he was appointed Macy’s chief merchandising officer in 2009.  

Home Depot disclosed an ongoing Environmental Protection Agency investigation into its lead safety practices related to its installation services business.   In an SEC filing published on Thursday, Home Depot disclosed an investigation by the EPA's criminal investigation division into its compliance with lead-safe work practices. Home Depot is currently cooperating with the EPA, having previously responded to civil document requests from several EPA regions.  

Online gaming is taking its toll on GameStop in a big way.   The retailer said that its video game category was weak, particularly in the second half of the year. This challenge, combined with shoppers’ attraction to online gaming, contributed to a total global sales decrease of 13.6% to $3.05 billion for the fourth quarter ended January 28, 2017.   The company earned $208.7 million, in the fourth quarter, compared with profits of $247.8 million for the same period a year ago.