Finance & Capital Management

Macy’s, Inc. has named Elisa D. Garcia as chief legal officer, effective Sept. 7, succeeding Dennis J. Broderick, who is retiring after 29 years.   Garcia, 58, has served in the same capacity for Office Depot since 2013. She was executive VP/general counsel for Domino’s Pizza prior to that.  

CVS Health on Tuesday reported an increase of 17.6% in net revenues for the three months ended June 30, 2016, to $43.7 billion.

A premium children’s brand is planning a growth spurt.    Private equity firm L Catterton has acquired Hanna Andersson for an undisclosed sum, with the intent of expanding the Swedish children’s apparel retailer across its channels.   Hanna Andersson currently operates a robust e-commerce and catalog business in addition to 55 retail stores and 11 outlet locations.  

Not even a political slug fest can shake the current consumer. The latest Nielsen Consumer Confidence Index showed that consumer confidence in the U.S. is on the rise, despite the uncertainty and starkly contrasting rhetoric around key economic issues.   Per the Index, Americans remained optimistic in the second quarter with a three-point confidence increase to 113. In contrast, the global consumer confidence index for the same period was flat at 98.   Other U.S. highlights include: 

One of the earliest adopters of the build-your-own pizza concept has notched North Louisiana in its expansion belt.   PizzaRev, the fast-casual pizza banner backed by Buffalo Wild Wings, announced that a franchise agreement has been signed to develop the chain throughout the northern part of Louisiana. Franchisees are lrestaurateurs Cassidy King and Mark Florsheim.  

In its search to find the right financial overseer, Destination Maternity Corp. didn’t have to look any farther than the auto parts industry.   On Monday, the maternity apparel retailer named David Stern, former CFO of Pep Boys – Manny, Moe and Jack, as executive VP and CFO, charged with leading the finance and accounting, real estate, loss prevention and procurement areas of the company.   Stern will report to CEO Anthony Romano.  

Smoothie operator Tropical Smoothie Café has refreshed its brand by blending a coastal atmosphere and elevated customer experience – with plans to take the new look and feel to locations nationwide.   "As Tropical Smoothie Cafe continued growing and evolving over the past several years, it became obvious to us that our brand's image needed to follow suit,” said Mike Rotondo, CEO. The company launched the rebranding via a new restaurant design that it plans to introduce to new and existing stores.

Steve Tanger is more than CEO of outlet giant Tanger Factory Outlet Centers – he is also an effective talking head.     Tanger appeared as a featured guest on CNBC's "Mad Money with Jim Cramer" on Thursday, July 28, and talked about the consistent strength of the outlet market despite a volatile retail industry.