FINANCE

Consumer electronics and appliance retailer Hhgregg came up short in its second quarter.    It also exited the Wisconsin market.     The company reported a loss of $18.4 million for the quarter ended Sept. 30, with a loss of 66 cents per share. Losses, adjusted for non-recurring costs and asset impairment costs, came to 51 cents per share. The results fell short of Wall Street expectations.  

Strong results in its PBM business provided a boost during CVS Health’s fiscal third quarter, with the retailer reporting a 23.6% increase in net earnings to $1.5 billion.   Revenue increased 15.5% to $6 billion for the period ended Sept. 30.   

A longtime San Francisco grocery banner will soon disappear.    Safeway will acquire Andronico’s Community Markets, which operates five Andronico’s stores in the San Francisco Bay Area.     

Starbucks Corp. is feeling its oats.   The coffee giant topped estimates for its fourth quarter and gave a positive view for its current fiscal year.   Starbucks’ consolidated net revenue grew 16% to $5.8 billion in its fourth quarter, which was better than expected.   

China’s sluggish economy didn’t stop Alibaba from increasing revenue by 55% for the September quarter.  

The CFO of Gap Inc. is leaving the company after serving in the role for nearly a decade.   The retailer announced that executive VP and CFO Sabrina Simmons is leaving. She will remain through the end of the company’s 2016 fiscal year, "ensuring a seamless transition over the coming months."  

The hits keep on coming for the embattled American Apparel Inc., which is reportedly on the brink of its second bankruptcy filing in less than two years.   

Office Depot saw its profit rise in the third quarter as cost-cuts and a $240 million tax benefit helped to offset the impact of lower revenue.   Profit in the quarter totaled $44 million, topping analysts’ forecasts. Sales fell 7% to $2.84 billion.