Finance & Capital Management

Hhgregg's holiday disaster was confirmed Thursday when the struggling retailer officially posted a loss of $26.9 million in its fiscal third quarter.

The company said that for the third quarter ended Dec. 31, net sales decreased 10.9% to $593 million, compared to the prior year third quarter.

When one looks at the hot topics in retail today, no shortage of economists, journalists, industry thought-leaders and technology pundits are talking about the future of payments. One topic that many aren’t really discussing is managing large volumes of cash receivables.

Tiffany & Co. has come up with a new way to showcase its brand and it has nothing to do with jewelry.

The retailer announced it has entered into an agreement with Coty for the development, production and distribution of a new line of Tiffany fragrances for both women and men, to be sold at Tiffany & Co. stores as well as at other select luxury retailers.

The eBay platform facilitated commerce of nearly $22 billion in the fourth quarter, a 5% increase, and counted roughly 265 million transactions during the holiday season.

The nation’s largest rural lifestyle retailer had previously warned that warm weather caused weaker-than-expected fourth quarter sales and it quantified the impact on profitability with the release of full financial results on Jan. 27.

The eBay platform facilitated commerce of nearly $22 billion in the fourth quarter, a 5% increase, and counted roughly 265 million transactions during the holiday season.

Fast-food chain The Wendy’s Co. may be the first big retailer to suffer a public data security incident in 2016.

According to the Krebs on Security blog, Wendy’s is investigating possible fraudulent activity related to credit cards used at some of its store locations. Wendy’s was notified earlier this month by partners in the payment industry that unusual activity was occurring.

German discount supermarket chain Lidl has revealed where it will drop its anchor in the United States.

The retailer revealed on its website that it is seeking locations between New Jersey and Georgia. It said it is looking to build stand-alone, 36,000-sq.-ft. stores on sites that are at least 3.5 acres with a minimum of 150 parking spaces.

Johnny Rockets, the franchisor and operator of Johnny Rockets restaurants, has named Susanne Stover as its CFO and member of its executive team. Stover will be reporting directly to CEO Charles Bruce, and will lead and implement strategies to drive growth and a financial infrastructure.

Stover is no stranger to the casual dining segment. She has held leadership positions as the CFO for the Rosa Mexicano restaurant chain and controller at the casual dining restaurant chain California Pizza Kitchen.

Tarrytown, N.Y. -- DLC Management Corp. announced the promotions of key members including the promotion of Daniel Taub to president. The company recognizes that human capital is its most important asset when it comes to success, developing its people and promoting from within are core business practices.