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Finance & Capital Management

  • Survey: Shoplifters, dishonest employees continue to plague retail industry

    With all the attention placed on cybercrime, it is easy to overlook the threat posed by old fashioned shoplifters and dishonest employees.  

  • Fast-fashion giant profit slides; remains upbeat about store growth

    H&M isn’t letting a weak second quarter performance stand in the way of its ambitious expansion plans.   The Swedish retailer’s profit in the quarter, which ended May 31, fell 17% to 5.357 billion Swedish kronor ($649.6 million), according to MarketWatch, as unusually cool weather dimmed sales of spring clothing and a strong U.S. dollar added to its costs. The strong dollar will have a negative impact on purchasing costs for the third quarter and a neutral effect in the fourth, the chain said.  

  • Former consumer electronics powerhouse charging up for store reboot

    Circuit City is reportedly getting closer to a relaunch.   The new owner of the defunct consumer electronics chain is currently working with brokers from CBRE to open a 6,000-sq.-ft. to 9,000-sq.-ft. prototype store in Dallas, reported consumer electronics industry publication Twice.     The relaunched business will also include a dedicated e-commerce site, as well as a presence on digital marketplaces such as Amazon.    

  • Victoria’s Secret exec joining department store retailer

    Belk Inc. is expanding its senior leadership team.   The company, which operates 293 stores in 16 Southern states, named Randy Whitaker as executive VP, chief stores officer, effective June 27. He comes to Belk after more than 15 years at Victoria’s Secret, having most recently served as executive VP of store operations. His previous roles at Victoria’s Secret include senior VP of finance, real estate and stores, and VP of real estate integration.   

  • Michael Glimcher steps down from the company founded by his father

    WP Glimcher announced that CEO and vice chairman Michael Glimcher has resigned from the REIT founded by his father, Herbert. Board member Louis Conforti was named interim CEO at the company slated to be rebranded as the Washington Prime Group.   Several other senior leadership changes were announced, including the replacement of Mark Ordan as board chairman with Robert J. Laikin, who had been the board’s lead independent director. Ordan stays on as a director.  

  • Discount retailer in expansion mode

    Meijer is on the move again.   The company on Tuesday opened a 192,000-sq-.ft. supercenters in Flossmoor and Round Lake Beach, Illinois.      The two new stores are part of an investment of more than $400 million in new and remodeled stores that Meijer is making this year, which is creating 3,000 new jobs across the Grand Rapids, Mich.-based retailer's six-state foot print.    

  • Lands’ End names new marketing chief in leadership shakeup

    Specialty apparel retailer Lands' End is making a number of new executive appointments in the marketing and merchandising areas of the company.

  • Luxury department store looking for a buyer

    Neiman Marcus is searching  for a buyer or investor, the New York Post reported.     Neiman Marcus CEO Katz recently visited China and while there met with potential buyers, including Anbang Insurance Group, which passed on an offer to buy the retailer,  the report said.  
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