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Finance & Capital Management

  • Branch buys its first Alabama centers

    Branch Properties, which owns 24 retail centers and restaurant parks in the Southeast, made its first foray into Alabama with the purchase of two Birmingham properties from Bayer and a silent partner.   The Atlanta-based Branch gets Inverness Corners, a 236,444-sq.-ft. center anchored by Winn-Dixie and Kohl’s, and Inverness Plaza a 74,818-sq.-ft property that houses Alabama’s only PGA Super Store. The deal was brokered by JLL.  

  • Fred’s names retail veteran as CEO

    Photo: Michael K. Bloom   Fred’s announced it has promoted COO Michael K. Bloom to chief executive, effective Aug. 29.      Bloom succeeds CEO Jerry A. Shore, who became chief executive in October 2014 and intends to retire in February.   

  • Amazon to test 30-hour workweek

    Amazon.com is going to give select employees the chance to work a shorter week for reduced pay — but with full benefits.  

  • Canadian c-store giant buying up more U.S. stores

    On the heels of the biggest deal in its history, Canada’s Alimentation Couche-Tard Inc. has entered into yet another deal to expand its U.S. footprint.   The retailer has signed an agreement to buy 53 stores in Louisiana, primarily in the Baton Rouge market, from American General Investments and North American Financial Group for an undisclosed price.    

  • C-store chain in money-saving lighting retrofit

    Quik Mart Stores has made the move to LED lighting.      The Tucson, Arizona-based convenience store/gas station chain replaced the existing fluorescent and HID interior and exterior lighting with solid state LED lighting at 25 locations in the Tucson market.     The retrofit was completed by SCS Energy Solutions Corp.’s SCS Lighting Division, which also developed a solution for beverage and freezer cooler lighting, as well as enhancing existing merchandise displays.  

  • Toys ‘R’ Us promotes chief merchant to president

    Toys "R" Us announced the appointment of Melanie Teed-Murch as president, Toys "R" Us, Canada, effective Sept. 1.       Teed-Murch joined the retailer in 1996 as a store manager for Toys "R" Us in Kitchener, Ontario. She went on to hold a variety of senior leadership, merchandising and operational roles with increasing responsibility, including her most recent position as Canada's chief merchant.  

  • GameStop Q2 sales fall

    GameStop Corp.’s revenue fell short of expectations in the second quarter as a lack of new game titles cut into its core business.   Sales fell 7.4% to $1.63 billion in the quarter ended July 30. Same-store sales fell 10.6 %.    Net income rose 10% to $27.9 million, in line with Wall Street projections.  

  • Big Lots profit tops Street; raises forecast

    Big Lots Inc. isn’t letting soft sales in the second quarter damper its outlook. Instead, the retailer raised its profit forecast for the year.   The discounter on Friday reported fiscal second-quarter net income of $22.7 million, which surpassed analysts’ expectations, from $17.64 million in the year-ago period.   Revenue totaled $1.2 billion in the period, which missed Street forecasts. Same-store sales inched up 0.3%.  
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