Finance & Capital Management

West Chester, Pa. – QVC has appointed Sanjay Singh as senior VP to lead its newly formed business planning & analysis (BP&A) group. Singh will be responsible for developing financial insights and driving integrated global business and financial planning across markets and functions.

Charlotte, N.C. – Family-owned Belk Inc., which hired Goldman Sachs in April to explore “strategic alternatives,” may have landed on a high-end shopping list. According to Reuters, New York-based equity firm Sycamore Partners may be considering bidding $3 billion to $3.5 billion for Belk.

Belk operates about 300 stores and averages about $4 billion in annual sales. In the first quarter of fiscal 2015, Belk reported earnings of $21.8 million and sales of $958 million, both of which were year-over-year improvements.

Hoffman Estates, Ill. – Sears Holding Corp. has met financial expectations for its new real estate investment trust (REIT) called Seritage Growth Properties. A 53.3 million-share Securities and Exchange Commission (SEC) subscription rights offering for Seritage that closed on July 2 was oversubscribed and generated about $1.6 billion, meeting expectations for gross proceeds of $1.57 billion.

Mooresville, N.C. – Lowe's Companies Inc. has promoted Tiffany L. Mason to senior VP of corporate finance and treasurer. Mason will continue to report to CFO Robert F. Hull Jr.

In her expanded role, Mason is taking on responsibility for financial planning and analysis, while she retains responsibility for the investor relations and treasury functions. Mason has nearly 20 years of experience in accounting and corporate finance across various industries, including technology, manufacturing, banking and retail.  

Specialty home goods retailer Conn’s continues to expand outward from its home state of Texas with several recent openings in key markets pushing the company toward its ambitious 2015 growth plan.

Conn’s currently operates 90 stores and earlier this year announced plans for between 15 and 18 new stores. Over the July 4 weekend the company added two store in North Carolina, a 46,000-sq.-ft. store in Charlotte and a slightly smaller 43,000-sq.-ft. store in Gastonia.

American Apparel Inc. is launching a restructuring plan aimed at cutting costs as the retailer looks to turn around its struggling business.

The retailer said it would be closing stores, cutting jobs and unveil a new fall line.

RadioShack plans to enhance its in-store experience and deliver an exciting new product mix now that it has $75 million in new funding.

General Wireless Operations Inc., doing business as RadioShack, has completed new financing consisting of a $50 million asset-based lending credit facility led by RBC Capital Markets and a $25 million first-in last-out term loan led by Great American Capital Partners.

Lowe's says it is making an investment in its long-term financial strategy with its latest move on its finance team.

Rite Aid has named a 30-year company veteran to the newly created post of group VP of risk and controls.

Dollar Tree's yearlong takeover saga, in which the retailer's offer to buy Family Dollar prompted a separate buyout attempt from Dollar General, is finally over.

Dollar Tree Inc. announced that it has completed its $8.5 billion acquisition of Family Dollar Stores Inc. Dollar Tree also named a new president and COO of Family Dollar. The combined company will operate about 13,000 stores, making it the largest dollar store chain in the U.S. by store count.