Strategy

Dick's Sporting Goods Inc. on Tuesday reported better-than-expected sales and earnings for its fiscal third quarter but tempered its good news with a weak outlook for the fourth quarter.    Dick’s posted net income of $48.9 million for the quarter ended Oct. 31, up from $47.2 million in the year-ago period.   On a per-share basis, the Coraopolis, Pennsylvania-based company said it had profit of 44 cents. Earnings, adjusted for non-recurring costs, were 48 cents per share.  

It’s official: The Finish Line considering selling its specialty running store chain.   The company announced that it is currently exploring strategic alternatives for its JackRabbit division (previously known as Running Specialty Group). The segment includes 70 specialty running stores in 17 states, such as Brooks, ASICS and Hoka One One.  

Ikea continues to expand its use of renewable energy.   The retailer plans to install the largest rooftop solar array in the state on Illinois on its distribution center in Joliet.   

The TJX Companies topped earnings and sales forecasts for its third quarter as deal-loving consumers flocked to its stores.   The off-price apparel and home goods retailer reported that net sales for its third quarter, ended Oct. 29, rose 7% to $8.3 billion, on top of a 5% increase last year.    

Butler Enterprises has named a Gainesville insider to promote and market its Neighborhoods at Butler project in that Florida college town.   The complex’s new director of marketing, Mary Reichardt, arrives at Butler from the Visit Gainseville-Alachua County Tourism Development Office, where she served as marketing chief. There, she created the county’s first brand strategy to establish awareness across the U.S. and in Europe.   

Regency Centers, a major player in grocery-anchored centers with 307 properties, and Equity One, owner of 98 retail properties, have signed an agreement to merge. Regency will continue as the surviving public company and, it claims, assume the position as the largest shopping center real estate investment trust.   The combined company is expected to have a total market capitalization of approximately $15.6 billion.   

The CFO of Neiman Marcus has resigned after 15 months on the job.   Donald Grimes has resigned as COO and CFO of the luxury retailer, effective immediately. No reason was given for his departure. But in an SEC filing, the company said Grimes's resignation "was not the result of any disagreement regarding any matter" related to its "operations, policies or practices."   Grimes joined Neiman Marcus in June 2015, after a seven-year stint at Wolverine World Wide where he was CFO. 

With some 2,975 team members in its 123 company-owned restaurants and support center, Fazoli’s, the nation’s largest fast-casual Italian restaurant chain, is addressing the Department of Labor’s new overtime rule head on. CSA spoke with Carl Howard, president and CEO of Fazoli’s, about the company’s strategy regarding the new regulations, scheduled to take effect December 1.   How do you think the new overtime rule will impact your workplace?

A Trump administration increases the chance that Walgreens Boots Alliance will successfully close its proposed acquisition of Rite Aid, though the deal's actual closing date may be extended further into first quarter 2017, according to a Seeking Alpha report.   

Whole Foods Market is upping its game.   In the face of growing competition, the supermarket chain has been adding restaurants, bars and tap rooms to its stores, reported The Orange County Register.    In select locations in California, Whole Foods is adding in-store outposts of a popular fast-casual eatery, Mendocino Farms, to its stores.