Finance & Capital Management

Taking the reins of Toys “R” Us in July 2015, new CEO and chairman David Brandon recognized one of the biggest challenges he faced would be inspiring others to execute his vision of what the company could be. The retailer had gone through a decade of leadership changes, and Brandon was well aware that frequent executive changes, strategic shifts and cost-cutting can cause stress and a lack of trust.

GameStop forecast an exceptionally wide range of same store sales possibilities during the fourth quarter following weaker than expected third quarter results.

John Bultema, executive VP, treasury management and currency processing solutions for Fifth Third Bank, spoke with Chain Store Age editor Marianne WIlson about the current status of cash receipts in retail store. And how they aren’t going away anytime soon.

Francesca's has lost its chief financial adviser just weeks after naming a new head merchant and a new senior marketing executive.

The Texas-based company announced that CFO Mark Vendetti has resigned from the company effective Dec. 4. Cindy Thomassee, Francesca's current VP of accounting, has been appointed to the role of interim CFO and will report directly to CEO Michael W. Barnes while the company conducts a search for a CFO.

It appears that Abercrombie & Fitch Co. is starting to making progress in its turnaround efforts.

Helped by a less promotional stance and cost cuts, the teen retailer saw its profit more than double in its third quarter as it beat expectations. But similar to many other retailers, Abercrombie struck a cautious note and said it expects fourth-quarter same-store sales to be about flat.

Destination XL says it is on pace to open its 175th store next year as the big and tall retailer also posted a jump in same-store sales and filled a newly created position with a veteran from Genesco.

For the third quarter ended Oct. 31, same store sales at the company increased 4.3%. Destination XL also narrowed its loss to $5.47 million, or 11 cents a share. In the previous year period, the company reported a loss of $6.28 million, or 13 cents a share.

Williams-Sonoma says its customer-focused strategy and brand portfolio led to its earnings spike in the third quarter and will further position the company for growth into the holiday season.

Higher demand for running and basketball shoes is translating into more record sales and profits for Foot Locker, which reported impressive third quarter results on Friday.

The New York-based specialty athletic retailer posted a same store sales increase of 8.7% in its third quarter ended Oct. 31.

Oak Brook, Illinois-based Ace Hardware Corporation reported third quarter 2015 revenues of $1.3 billion, an increase of $148.5 million or 13.2% from third quarter 2014. Net income was $54.2 million for third quarter 2015, an increase of $16.9 million or 45.3% from last year.

"We are delighted to announce the best third quarter sales and profit in Ace’s history," said John Venhuizen, President and CEO, Ace Hardware Corp. "The credit falls squarely on the shoulders of our world-class retailers, associates and corporate teammates.”

Hibbett Sports says strong expense control and footwear sales helped the retailer increase earnings in the third quarter.

The Alabama-based sporting goods retailer reported that for the third quarter ended Oct. 31, profit was $18.7 million, or 79 cents a share, up from $16.9 million, or 67 cents, a year earlier. Revenue increased 4.6% to $228.3 million. Same-store sales increased .6%.