FINANCE

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.  

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.    

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. 

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.   

Kenneth Cole is closing all its stores in outlet centers.   The company plans to shutter its 63 outlet stores within the next six months, Bloomberg reported. The move will leave the brand with two brick-and-mortar stores, both full priced, with one in downtown Manhattan and the other in Arlington, Va.  

Shopko, in partnership with First Bankcards, is launching its first private label credit card program.   The new Shopko Credit Card, which can be used at any Shopko throughout the United States, will offer discounts, periodic deferred interest promotional financing offers and automatic gift card rewards, in addition to in-store instant approval.   

Beleaguered American Apparel has filed its second Chapter 11 bankruptcy protection in just a little over a year. But this time around its future as a retailer looks even more uncertain.  

J. Jill Group Inc. is moving forward with plans for an initial public offering.   The Quincy, Massachusetts-based retailer has tapped Bank of America, Morgan Stanley, and Jefferies Group LLC as underwriters for a possible initial public offering, Reuters reported.     

Nordstrom delivered a strong performance in its fiscal third quarter even as a hefty charge related to its Trunk Club business ate into its profit.   Total net sales rose 7.2% to a better-than-expected $3.5 billion from $3.2 billion a year ago, fueled by the shift of the company’s popular anniversary sale to the quarter. Same-store sales increased 2.4%, also more than expected. As it has done in recent past quarters, Nordstrom Rack outpaced the full-priced division, Net sales were up more than 10%, and same-store sales rose nearly 4%.

Weakness in apparel helped make for a disappointing third quarter for J.C. Penney Co. as the retailer cuts its forecast amid sliding sales.   On the positive side, Penney said sales trends improved in October, fueled by increasing momentum behind its new appliance business.