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FINANCE

  • Walmart Q4 sales surge online and offline

    Walmart on Tuesday reported a solid fourth quarter amid a big increase in online sales and higher store traffic. The company also announced it is raising its dividend.   Walmart earned $3.76 billion, or $1.22 per share in the quarter ended Jan. 31, compared with $4.57 billion, or $1.43 per share, in the year ago period. Walmart’s earnings were impacted by investments in its digital business as it continues to boast its defenses against Amazon and other online competitors.    

  • Another department store retailer misses

    Slowing mall traffic continued to slow Dillard’s sales in the fourth quarter.   Net income for the quarter ended January 28, 2017, was $56.9 million compared to net income of $84.0 million in the year-ago period. Included in the amount is an after-tax asset impairment of $4.2 million on a cost method investment.   Net sales for the period were $1.94 billion, down from $2.07 billion last year. This missed analyst estimates of $1.999 billion.  

  • Analysis: Macy’s making some progress

    Neil Saunders, managing director of GlobalData Retail, comments on Macy’s fourth quarter results:   

  • Men’s specialty retailer streamlines financial transaction auditing

    As retailers expand the breadth of their omnichannel operations, they need better visibility into their financial data.   This is not an easy task for retailers like Tailored Brands, whose expansive retail portfolio includes Men's Wearhouse, Jos. A. Bank, Joseph Abboud, Moores Clothing for Men and K&G Fashion Superstore. The company also operates a global corporate apparel and workwear group consisting of Twin Hill in the U.S. and Dimensions, Alexandra and Yaffy in the U.K.  

  • Report: Apparel company makes a play for bankrupt specialty retailer

    A new company is interested in The Limited.   Sunrise Brands LLC has bid for the bankrupt apparel retailer’s e-commerce business and intellectual property, a move that challenges a $26.3 million offer from private equity firm Sycamore Partners, Reuters said.   

  • Early Internet sensation goes private

    The $500 million sale of online diamond and jewelry retailer Blue Nile has been completed.   The company was acquired by an investor group comprised of Bain Capital Private Equity, Bow Street and Adama Partners for $40.75 per share in cash. The transaction, first announced on Nov. 7, 2016, was approved by shareholders on Feb.2, 2017.  

  • Another sporting goods retailer calling it quits

    It’s closing time for MC Sports.   The chain, which filed for Chapter 11 bankruptcy protection on Feb. 14, is closing all 66 of its stores across the Midwest. A joint venture between Tiger Capital Group and Great American Group is conducting the going-out-of-business sales, which are now underway.  

  • VF Corp. sales slip in Q4

    An inconsistent U.S. marketplace and the sale of one of its business units contributed to lower fourth quarter sales for VF Corp.   The company, whose brands include The North Face and Timberland, reported that its net sales fell 0.1% to of $3.2 billion, for the quarter ended Dec. 31, 2016.    Total revenue came in at $3.3 billion, down 0.2%.  
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