Financial/Banking

Build-A-Bear Workshop on Tuesday said it has hired financial and legal advisers to help it explore strategic alternatives. The news came the day after General Nutrition Corp. (GNC) said it was doing the same.

Aeropostale will reportedly file for bankruptcy protection this week and subsequently close more than 100 of its 800 stores, according to The Wall Street Journal.

The struggling teen apparel retailer plans to reorganize under a Chapter 11 filing this week ahead of May rent payments, the report said. On Aeropostale has been struggling for some time. The chain has recorded three consecutive years of losses as its struggles to deal with a teen audience whose spending tastes now favor fast-fashion giants such as H&M as well as online retailers.

With the retail environment changing so rapidly today, and technology impacting everything a store does, the role of the chief financial officer has become more important than ever.

When I started recruiting in 1990, the business was much simpler — we hired retail executives based on a linear skillset, and departments operated in individual silos. Today, it is much more complex, as the C-suite works in collaboration to keep up with an increasingly savvy consumer.

So, what then do you look for in a CFO today?

Editor’s Note: The 27th annual survey of Fastest-Growing Managers tallies new domestic and international third-party management and leasing contracts obtained during the 2015 calendar year and ranks the top performers. As always, the measuring stick is square footage.

This year’s fastest-growing third-party managers are taking many roads to growth, from acquisition to a multidisciplinary focus.

Editor’s Note: The 27th annual Chain Store Age survey of Fastest-Growing Acquirers surveyed retail square footage purchased during the 2015 calendar year.

They come to the list with different philosophies and experiences, but this year’s Fastest-Growing Acquirers share a dedication to preparation and long-term strategies.

May 20 is shaping up as a momentous day at Brixmor Property Group with newly appointed CFO Angela Aman slated to begin work the same day as recently appointed CEO Jim Taylor.

Aman’s appointment as CFO was announced in conjunction with the release of Brixmor’s first quarter financial results on April 26 and follows the April 12 announcement that James Taylor had joined the company as CEO.

It’s closing time for Sports Authority, which is giving up on reorganization.

An attorney for the sporting goods retailer told the judge in bankruptcy court on Tuesday that the company is no longer pursuing reorganization and exiting Chapter 11. Instead, it will look for buyers to purchase some or all of its remaining stores.

“It has become apparent that the debtors will not reorganize under a plan but instead will pursue a sale,” company attorney Robert Klyman said in court.

Office Depot put the blame for disappointing first-quarter financial results on its delayed buyout by Staples.

"The protracted regulatory review of the pending Staples acquisition continues to have a substantial disruptive impact on our business," stated Roland Smith, chairman and CEO, Office Depot. “Our North American Business Solutions Division and International Division are more impacted by this disruption and accordingly, both failed to meet our sales and profit expectations this quarter.”