Finance & Capital Management

Michaels purchased the rights to Hancock Fabrics’ brand and intellectual property for $1.3 million from U.S. Bankruptcy Court in Delaware.    The Texas-based crafts retailer takes possession of its ex-rival’s patents and trademarks, as well as its name. Personal and transactional data from 10 million Hancock customers was included in the deal, according to the Memphis Business Journal.  

Ikea has tabbed a 123-acre parcel 17 miles north of downtown Denver as the potential site of its second location in the metro. The Swedish furniture retailer made its debut in the area with a store in Centennial in 2011.   Ikea set no time frame for the opening of the second store, though the city of Denver has begun the process of incorporating a new Ikea into the master-planned retail center destined for the site in Broomfield at the intersection of Interstate 25 and State Highway 7.  

Sally Beauty Holdings Inc. reported fiscal third-quarter earnings of $67.9 million, which matched Wall Street expectations.    Revenue for the period was $998.2 million, missing Street forecasts of $1 billion.   In other news, the Sally board named global cyber security expert Erin Nealy Cox as an independent director, effective Aug. 1.   

RediClinic convenient care clinics has named a seasoned healthcare executive as its new CFO.   Jeff Fields is joining Health Dialog, provider of population health management services, and RediClinic as CFO. He will be responsible for the fiscal management of both RediClinic and Health Dialog as they continue to grow in the total population management services and retail health care markets.   

HSN’s CFO and COO is taking a new job, but she won’t have to travel far.   Judy Schmeling has assumed the helm of the Cornerstone Brands division of HSN, which consists of home and apparel banners such as Frontgate, Garnet Hill, Grandin Road and TravelSmith.    Schmeling, who will continue to report to HSN CEO Mindy Grossman, will maintain her COO position at HSN, and she will remain CFO until a successor is appointed.  

HSN’s CFO and COO is taking a new job, but she won’t have to travel far.   Judy Schmeling has assumed the helm of the Cornerstone Brands division of HSN, which consists of home and apparel banners such as Frontgate, Garnet Hill, Grandin Road and TravelSmith.    Schmeling, who will continue to report to HSN CEO Mindy Grossman, will maintain her COO position at HSN, and she will remain CFO until a successor is appointed.  

Thanks to homeowners who are sitting on their houses and Millennials who are starting to buy some, Home Depot CEO Craig Menear sees a rosy revenue picture ahead for home centers. 

Costco's comparable sales for the month of July declined 2%, with a 3% decrease in U.S. a 3% rise in Canada and other decreases internationally.