Finance & Capital Management

Target Corp. is the central player in a drama that even Hollywood wouldn’t dream    A Florida man has been charged with plotting to bomb Target stores along the East Coast — an attempt to cheapen the company’s stock.  

The National Retail Federation has high expectations for the nation’s next secretary of labor.   On the heels of Alexander Acosta’s nomination to head the federal Department of Labor on Thursday, Feb. 16, the retail trade association’s senior VP for government relations David French released the following statement:  

It’s closing time for MC Sports.   The chain, which filed for Chapter 11 bankruptcy protection on Feb. 14, is closing all 66 of its stores across the Midwest. A joint venture between Tiger Capital Group and Great American Group is conducting the going-out-of-business sales, which are now underway.  

Declining mall traffic is taking a toll on Perfumania.   Perfumania Holdings Inc. has hired advisers to explore strategic alternatives, including a debt restructuring, Reuters reported. It also plans to negotiate with landlords to exit some of its 313 Perfumania stores.   The company recorded debt of approximately $164 million on Oct. 29 and $2.1 million in cash and cash equivalents, the report said.  

Target plans to renovate its downtown Minneapolis flagship, adding an array of new features.   The discounter will invest $10 million in a full-store remodel for the location, which opened in 2001, reported The Journal.     Less ambitious updates are planned for other Target stores in the Twin Cities area.    

An inconsistent U.S. marketplace and the sale of one of its business units contributed to lower fourth quarter sales for VF Corp.   The company, whose brands include The North Face and Timberland, reported that its net sales fell 0.1% to of $3.2 billion, for the quarter ended Dec. 31, 2016.    Total revenue came in at $3.3 billion, down 0.2%.  

The Wendy’s Co. is bullish on expansion.   The chain wants to add approximately 1,000 locations by 2020, reported Nation’s Restaurant News.    

DWM Facilities Maintenance has opened a new office in Orlando, Florida. The new office will help facilitate the company’s recent growth.