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Finance & Capital Management

  • Report: Department store retailer losing top digital exec

    The chief technology officer of Nordstrom is leaving the company after less than a year on the job.      Kumar Srinivasan is leaving the upscale department store company effective Friday, Jan. 7, to return to India, GeekWire reported.    Srinivasan, who joined Nordstrom in March, after serving as the co-founder and CEO of software company Evocalize. Prior to that, he was the former general manager at Amazon Payments Merchant Solutions unit   

  • Lighting Transformed

    LED options now exist for nearly every lighting application

    When it comes to retail operating costs, energy is one of the top three expenses. Lighting is, of course, a component of this, accounting for 50% of energy costs for non-food retailers. The typical retail store spends roughly 71 cents per square foot per year — a cost that quickly adds up at the store and chain level.

  • Sears sells top brand, closing more stores

    Sears Holdings Corp. is seeking to stop its bleeding and raise more cash by closing another 104 stores and selling its iconic Craftsman tools brand.   The struggling retailer said it has reached an agreement to sell Craftsman to Stanley Black & Decker for a net present value of about $900 million, including future royalty payments. Sears, which will continue to sell Craftsman products, had put the brand, along with its Kenmore and DieHard brands, up for sale several months ago.   

  • Online powerhouse among retailers looking to buy American Apparel

    A few familiar retail names are reportedly in discussions to buy American Apparel.    Amazon and Forever 21 are among the companies in talks with the bankrupt manufacturing and retail company and its advisors about submitting offers ahead of a deadline on Friday, Reuters reported.  

  • CFO Spotlight

    Finance chiefs play expanded role in managing the retail transformation

    With the retail environment undergoing the most complex changes in our generation, the sustainability of the current retail economic model is in question.

    Historically, retail CFOs, as the principal financial officers, were primarily responsible for more traditional finance, treasury, regulatory, information delivery and related functions.

  • Macy’s details store closings, restructuring amid poor holiday sales

    Macy’s gave more information about its previously announced store closing plans as it unveiled a series of actions to streamline its store portfolio, intensify cost efficiency efforts and execute its real estate strategy.   

  • Coach taps former Saks exec as new finance head

    Coach announced the appointment of Kevin G. Wills as CFO, effective no later than March 2017.   Wills joins the upscale specialty retailer from AlixPartners LLP, a global business advisory firm, where he has served as managing director and CFO since March 2014.    

  • Sears gets another lifeline from CEO — this time backed with real estate

    For the second time in a week, Sears Holdings Corp. is borrowing money from the hedge fund of its CEO.   The embattled retailer has entered into a $500 million secured loan facility (maturing in July 2020) with ESL Investments, the hedge fund controlled by Sears chairman and CEO Edward Lampert. Of the total, $321 million was funded immediately, and an additional $179 million may be drawn in the future.  
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