Finance & Capital Management

Starbucks to use new upscale format to make Italian debut
Starbucks Coffee Company will open for business in Italy for the first time in late 2018. The coffee giant plans to open a 25,500-sq.-ft. Reserve Roastery outpost in late 2018 in Milan, in the historic, turn-of-the-century post office building in the city’s center. The Milan Reserve Roastery will be the first Starbucks Roastery to open in the Europe, Middle East and Africa region, and the fifth, globally. It is the first of additional Starbucks stores the company plans to open in Italy.
Analysis: Target needs to balance online growth with store growth
The holidays did not bring much cheer for Target, which saw both sales and profit decline during the golden quarter. Worryingly, comparable sales fell at an accelerated pace, ending up at their most negative point for of the fiscal year. The one bit of sparkle in an otherwise dreary set of figures came from digital where sales grew by a stellar 34%, a pace of expansion well above online growth in the whole U.S. market.

Target misses bullseye in Q4 as profit, sales fall; gives weak 2017 outlook

Strong online sales were not enough to help Target Corp. overcome a very disappointing fourth quarter, whose sales and earnings were far below Wall Street expectations. And the discounter offered a weak outlook for 2017. Target on Tuesday issued a full-year profit forecast that was far below market expectations, and said it plans to invest more money into enhancing its digital online platform and cutting prices. The chain said it would sacrifice gross margins this year to stay ahead of the competition.

Kimco makes two senior appointments

Ross Cooper (left) and David Jamieson (right).

Report: Hhgregg plans to file for bankruptcy as soon as next month

A week after bringing in advisers to determine how to return the chain to profitability, Hhgregg is preparing to file Chapter 11.

Report: Online retailer seems to be unraveling

JackThreads is the latest company seeking help to stay afloat. The online men’s retailer has cut its staff down to a skeleton crew with mass layoffs over the past two weeks, and is on the hunt for a buyer, according to Fortune.

Walmart’s Latest E-Commerce Moves: What Can it Really Deliver?

The world’s largest brick-and-mortar retailer, Walmart, has eliminated the membership fee on its two-day shipping program ShippingPass – its strongest response yet to the growing dominance of Amazon Prime (which is not estimated to 65 million members worldwide).

Macy’s sells ground lease for Pasadena center

Macy’s has sold a fee-simple ground lease underlying The Shops on Lake Avenue in Pasadena that is shadow-anchored by one of its active stores. The sale to a private investor from San Diego was handled by Hanley Investment Group Real Estate Advisors. The ground lease does not include the Macy’s store, but does take in tenants including T.J.Maxx, Trader Joe’s, Ross Dress for Less, Williams-Sonoma, Talbot’s Jos. A Bank, and Orvis.

Specialty retailer launches IPO

Women’s apparel retailer J.Jill is returning to the public arena after more than a decade of private ownership. The retailer on Monday said it has launched an initial public offering of 11.67 million shares. The IPO is expected to have a price range of between $14.00 and $16.00 per share. J.Jill has been approved to list its common stock on the New York Stock Exchange under the ticker “JILL.”

Report: Christian bookstore to close all 200-plus locations

Family Christian is going out of business. The company said Thursday, Feb. 23 that it plans to close all 240 stores across 36 states, according to Reuters. Family Christian filed for Chapter 11 bankruptcy in February 2015 with more than $120 million in debt. Since then, the chain continued to face a sales slump amid growing competition from online stores.

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