FINANCE

Sales per square foot are declining across the board. But some retailers continue to pull in hefty revenue.    The No. 1 retailer in terms of sales per square foot is Apple Inc., which does a staggering $5,546 per square foot, according to research provided by CoStar.    

Staples met the first requirement on its road back to private ownership.   The office supplies giant, which is being acquired by private equity firm Sycamore Partners, has been granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. This act states that no merger or acquisition can take place until the United States Federal Trade Commission and Department of Justice have determined that the filed transaction will not violate U.S. commerce antitrust laws.   

Despite the failure of a “skinny” repeal healthcare bill in the Senate, the National Retail Federation remains committed to fixing the Affordable Care Act.  

Despite a drop in profits and same-store sales, Whole Foods Market still managed to surpass analyst predictions for the third quarter.   Net income for the quarter, ended July 2, net income fell to $106 million, or 33 cents per shares, from $120 million, or 37 cents a share, a year ago. This beat analyst expectations of 33 cents expected, according to Thomson Reuters.  

Nordstrom is offering a deal to potential equity partners willing to fund a buyout.   The group of Nordstrom Inc. family members seeking to take the luxury department store chain private is offering preferential terms to potential equity partners willing to fund the buyout, according to Reuters. The group involved in the negotiations are company co-presidents Blake W. Nordstrom, Peter E. Nordstrom, and Erik B. Nordstrom; president of stores James F. Nordstrom; chairman emeritus Bruce A. Nordstrom; and Anne E. Gittinger. 

The import tax proposal has officially been removed from the tax reform plan — which is welcome news for retailers across the industry.   On Thursday, congressional and administration leaders announced they would remove the Border Adjustment Tax (BAT) from consideration, and announced an outline for comprehensive tax reform. The BAT provision would have ended importers’ ability to deduct the cost of merchandise purchased from other countries.   

The largest U.S. chain dedicated to recreational vehicles is acquiring a new company.   Camping World Holdings announced that it will purchase TheHouse.com, an online retailer specializing in bikes, sailboards, skateboards, wakeboards, snowboards and outdoor gear. Both companies will maintain distinct brands, with Camping World focusing on the outdoor camping and RV industry, and TheHouse.com continuing to provide its offering to shoppers with active outdoor lifestyles.  

Carter’s credits its U.S. retail and international segments, and its new acquisition for a jump in its second quarter sales.   Net income for the quarter ended July 1, increased $1.7 million, or 4.8%, to $37.9 million, compared to $36.2 million, in the second quarter of fiscal 2016. Earnings per diluted share was or $0.78, which beat analyst expectations of $0.71 per share, according to Zacks Investment Research.