Strategy

Indianapolis – The Finish Line Inc. reported an 11% improvement in net income during the third quarter of fiscal 2014, rising to $2.58 million from $2.32 million. Lower impairment and store closing charges, a slowed pace of growth in cost of sales, and an income tax benefit all helped spur the growth in profit.   Consolidated net sales were $395.8 million, an increase of 9% from $364.45 million. Same-store sales rose 4.5%.

Mexico City, Mexico - Grupo Financiero Inbursa, a banking firm owned by Mexican billionaire Carlos Slim, has reportedly bought the bank division of Wal-Mart de Mexico (Walmex) for $246.94 million, or 1.7 times Walmex’s bank capital.

 

According to Reuters, Walmex has been focusing on selling its non-core assets, such as its restaurant division, in the past year.

Poughkeepsie, New York - DLC Management Corporation announced its latest acquisition: The Shoppes at South Hills, a 518,000-sq.-ft. grocery-anchored power center in Poughkeepsie, New York.   This acquisition aligns well with DLC’s operations and features anchor tenants ShopRite, Burlington Coat Factory, Christmas Tree Shop, Hobby Lobby and Kmart. Other tenants include Ashley Furniture HomeStore, Bob’s Discount Furniture, and Chuck E. Cheese’s.   

The person behind the retro marketing campaign at RadioShack is out.

Jennifer Warren, chief marketing officer at RadioShack, is the latest top executive to leave the troubled electronics retailer as it tries to stave off bankruptcy. The company recently replaced its CFO for the third time this year as it reshuffled restructuring advisers.

Warren joined RadioShack in April 2013 and was one of CEO Joe Magnacca’s first hires when he was putting together his turnaround team.

Greenwich, Connecticut - Family-owned and operated jeweler Betteridge’s is relocating to a new flagship position at 239 Greenwich Avenue -- a corner location that is now at the hub of activity and is considered one the crown jewels of Greenwich, Connecticut’s shopping destination.  

Mexico City - Wal-Mart de Mexico said that that Enrique Ostale, Walmex chairman and Latin America CEO for Wal-Mart Stores, will also take over as CEO of the Mexican company, effective January 1.  

Fort Worth, Texas – Pier 1 Imports Inc. met Wall Street expectations with a 33% year-over-year decline in profits during the third quarter of fiscal 2015. Net income fell to $17.9 million from $26.8 million, with an increase in selling, general and administrative (SG&A) expenses driving the reduction.  

San Jose, Calif. – The New Year is looking very happy for EBay CEO John Donahoe and CFO Bob Swan. In a securities filing, EBay said that Donahoe will get a severance package worth $23 million and Swan will get a severance package worth $12 million when the company spins off its PayPal unit in 2015. Both men said they would leave their positions after the split occurs when EBay first announced the spinoff plan in September.