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Financial/Banking

  • Tile Shop tops Q3 estimates

    The surge in home improvement projects is helping fuel sales at The Tile Shop.    Tile Shop Holdings Inc. on Tuesday reported third-quarter profit of $4.6 million for the third quarter, ended Sept. 30. Earnings, adjusted for non-recurring costs, came to 10 cents per share.   The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.  

  • Supervalu in $1.36 billion cash deal to sell Save-A-Lot

    Supervalu has found a buyer for its discount grocery business, Save-A-Lot.   Supervalu agreed to sell Save-A-Lot to Onex Corporation, a Toronto-based private equity firm, for $1.365 billion in cash. As part of the agreement, Supervalu will provide professional services to Save-A-Lot for five years.     The sale is expected to be completed by January 31, 2017, subject to regulatory approvals and other customary closing conditions.    

  • Off-price retailer continues loyalty partnership

    As the loyalty landscape heats up, TJX Companies is renewing its existing program to remain competitive.   The off-price retailer announced a multi-year renewal of its partnership with Synchrony, a move that will continue to support financing for its five-year-old Rewards Credit Card program.   

  • Investor seeks shakeup at Pier I

    New York investment management firm Alden Global Capital is not happy with the board — or the CEO — of Pier I Imports.     Alden, the retailer’s largest active institutional investor, is demanding a shakeup of the Pier 1 board, reported the Dallas Business Journal.    

  • Save-A-Lot to open 75 stores in fiscal 2017

    Save-A-Lot may be facing a possible spin-off from parent company Supervalu, but the chain is still bullish about its future.    Supervalu is expected to announce the fate of its discount grocery banner next week, the St. Louis Post Dispatch reported, with Toronto private equity firm Onex Corp. the leading bidder if Supervalu does pursue a sale. 

  • SPECS reveals opening keynote speakers

    SPECS 2017, the “Retail Event for Store Innovation,” announced that three of the nation’s top financial experts will open the program at the 53rd annual SPECS conference, which will be held March 12-14 at the Gaylord Palms in Kissimmee (Orlando), Florida.  

  • Home decor brand adds reward-based payment card program

    To stand out in a crowded category, At Home is rewarding shoppers for their loyalty.   The home décor superstore launched a new credit card program through a partnership with Synchrony Financial. Based on a multi-year agreement, At Home shoppers now have the opportunity to sign up for one of two credit cards that reward them for all brand purchases.  

  • Inland exec receives Distinguished Service Award

    Inland Private Capital Corp.’s Keith Lampi received the Distinguished Service Award from the Alternative and Direct Investment Securities Association during its recent annual conference in Las Vegas.   "Keith has exhibited an honorable commitment to excellence and service to the industry while adhering to the highest ethical standards and quality performance," said ADISA executive director and CEO John Harrison in presenting the award.   
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