Finance & Capital Management

Baltimore –  An executive from the sports world is moving into the retail arena.

Terdema L. Ussery II has joined Under Armour Inc. as president, global sports categories, effective Sept. 14, 2015. Ussery previously served as the president and CEO of the Dallas Mavericks NBA team for the past 18 years.

In his new position, Ussery will be responsible for spearheading category management across all key brand and business units around the world to drive authenticity and connectivity with consumers.

Sidney, Neb. – Cabela’s Inc. has 400 million new reasons to feel confident about the growth of its Club Visa credit card portfolio.

The retailer has closed a $400 million securitization transaction, including $240 million of Class A-1 Notes with fixed annual interest of 2.25%, and $100 million of Class A-2 Notes with interest at a floating rate equal to one-month LIBOR plus 0.67% per year.

The former head merchant for Staples has been named president and CEO of eBags Inc.

The eBags board of directors appointed Mike Edwards as president, CEO and member of the board of directors effective immediately. He also joins the company as a new investor.

Edwards most recently held the position of executive vice president of global merchandising for Staples Inc. 

Macy's Inc. should split off its real estate holdings into a separate company to maximize shareholder value, Starboard Value hedge fund manager Jeffrey Smith said during an investor presentation, according to several news reports.

According to the Wall Street Journal, Smith said Wednesday it had taken a stake in Macy’s and is pushing the department store chain to spin off some of its real-estate assets.

Donald Trump contends he doesn’t forget and that could be a bad thing for Macy’s now that polls show the businessman turned politician leading a crowded field of Republican presidential hopefuls and using campaign stops to belittle the department store chain.

Months after trumping Hot Topic with a better offer, GameStop has officially acquired Geeknet for $140 million.

New York -- Ollie’s Bargain Outlet raised $143 million in a wildly successful initial public stock offering that positions the company for steady expansion of its 181 unit store base beyond core markets.

Ollie’s co-founder and CEO Mark Butler told Retailing Today that although the company has identified 950 suitable store locations, proceeds from the IPO will be used to repay debt and the company will maintain a measured pace of expansion.

Oak Brook, Ill. - Inland Securities Corporation, the exclusive dealer-manager and placement agent for real estate investment programs sponsored by Inland Real Estate Investment Corp. (“Inland Investments”) and Inland Private Capital Corp., announced that Michael T. Ezzell II has joined the company as CEO.

Montvale, N.J. – A supermarket chain that was founded two years before the Civil War began may be going the way of the Confederate flag.

According to the New York Post, The Great Atlantic & Pacific Tea Co. (A&P) may file for Chapter 11 bankruptcy as soon as this week.

San Jose, Calif. -- eBay is selling its enterprise business as it continues streamline operations in anticipation of its separation from PayPal Holdings Inc. on Friday.

In announcing its second quarter results, eBay said it was selling its eBay Enterprise division, which helps retailers enhance their online presence and e-commerce capabilities, to a consortium led by private equity firm Permira for $925 million.