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FINANCE

  • Report: Bankrupt teen apparel chain in negotiations with Versa Capital

    Aeropostale is negotiating a potential sale to private equity firm Versa Capital Management LLC, Reuters reported. Versa specializes in distressed investments.      In court papers filed at the end of last week,the retailer said it has been in discussions with Versa regarding a possible stalking horse bid at the chain’s bankruptcy auction later this month. The bid by Versa could include a cash payment for Aéropostale’s inventory, and the assumption of more than 500  

  • South African-based retail giant enters U.S. with $3.8 billion acquisition

    A company relatively unknown outside its home base has entered the U.S. retail market in a deal to acquire Mattress Firm Holding Corp., the largest mattress retailer in the United States.   

  • Sprouts Farmers beats Q2 profit forecasts

    Sprouts Farmers Market Inc. reported second-quarter net income of $37.2 million, which topped Wall Street expectations.    The natural and organic food retailer posted revenue of $1.03 billion in the period, narrowly missing Street forecasts of $1.04 billion, but topping last year’s sales by 14%.   Same-store sales grew 4.1% in the period.

  • Cato records dip in July total sales and comps

    The Cato Corp. reported sales of $61.2 million for the four weeks ended July 30, down 8% from the same period a year ago.     Same-store sales for the month were down 10% from the prior year.   On a quarterly basis, Cato sales for the second quarter fell 5% to $236.7 million, compared to $249.2 million a year ago. Second quarter same-store sales were down 6% from the prior year.  

  • Costco's July comps slide 2%

    Costco's comparable sales for the month of July declined 2%, with a 3% decrease in U.S. a 3% rise in Canada and other decreases internationally.  

  • RediClinic names CFO

    RediClinic convenient care clinics has named a seasoned healthcare executive as its new CFO.   Jeff Fields is joining Health Dialog, provider of population health management services, and RediClinic as CFO. He will be responsible for the fiscal management of both RediClinic and Health Dialog as they continue to grow in the total population management services and retail health care markets.   

  • Michaels buys Hancock Fabrics brand

    Michaels purchased the rights to Hancock Fabrics’ brand and intellectual property for $1.3 million from U.S. Bankruptcy Court in Delaware.    The Texas-based crafts retailer takes possession of its ex-rival’s patents and trademarks, as well as its name. Personal and transactional data from 10 million Hancock customers was included in the deal, according to the Memphis Business Journal.  

  • Publix reports a 2.1% sales boost in Q2

    Publix’s sales for second quarter 2016 were $8.1 billion, a 2.1% increase from last year’s $8 billion. Comparable-store sales for second quarter 2016 increased 1.1%.    The company says sales were negatively impacted by 1.2% due to the effect of the Easter holiday being in the first quarter in 2016. In 2015, the effect of the Easter holiday was in the second quarter.  
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