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Financial/Banking

  • Supervalu lets customers stack coin

    Eden Prairie, Minn. – Supervalu Inc. wants customers to be able to stack some coin. The grocery retailer has added Cummins Allison’s Money Machine 2 self-service coin counters across multiple store locations in Maryland, Missouri, Illinois and Virginia.

    Supervalu selected the new Money Machine 2 coin counters because of their flexibility. Additionally, Cummins Allison provided Supervalu with opportunities to increase their coin redemption revenue without increasing user fees.

  • U.S. shopping center occupancy rate hit six-year high

    New York -- The death of the mall has been highly exaggerated, according to data released Monday by the International Council of Shopping Centers and the National Council of Real Estate Investment Fiduciaries. Among the highlights: Shopping center occupancy rates were 92.7% at the end of 2014, the highest level since second quarter 2008, according to data released Monday. Occupancy was even higher for the mall segment (combined super-regional and regional malls), at 94.2% at the end of 2014, the highest since the end of 1987.   

  • Report: RadioShack, creditors back Standard General bid

    Fort Worth, Texas – RadioShack is reportedly asking a bankruptcy court to approve a roughly $160 million bod from Standard General LP that would keep 1,743 stores of the retailer’s roughly 4,000 stores open. According to the Wall Street Journal, the Standard General bid also the backing of the official committee of RadioShack’s unsecured creditors.

  • American Apparel’s Dov Charney seeks $40 million in damages as chain’s loss widens

    New York -- There is no let up of bad news for American Apparel. The company’s founder and ousted CEO, Dov Charney, plans to file a lawsuit claiming $40 million in damages related to breaches of his employment contract.

    The disclosure came on the heels of news that the Securities and Exchange Commission has opened an investigation into the circumstances surrounding Charney’s departure.

  • Finish Line Q4 profit falls; announces new buyback plan

    Indianapolis -- The Finish Line Inc. on Friday reported a decline in its fourth-quarter profit and cautioned that profits in its current year may not hit expectations of a fiscal fourth-quarter net income of $40.8 million.

    The retailer also authorized a new 5-million-share buyback program.

    The Finish Line’s earnings in the fourth quarter fell 5% to $40.8 million.

    Consolidated net sales for the quarter were $551.3 million, an increase of 6.3% over the prior year period. Same-store sales increased 2.6%.

  • Walmart’s Foran and McKenna to offer views in NY

    In a break from tradition, Walmart is hosting an investor meeting in New York on April 1 with the new team of top executives who are driving the latest round of changes at the retailer’s U.S. business.

    A 90 minutes session scheduled to begin at 10 a.m. EST on April 1 at the New York Stock Exchange will be hosted by Walmart U.S. President and CEO Greg Foran.

  • Dividend Capital acquires South Cape Village for $35 million

    Boston -- Cushman & Wakefield announced the sale of South Cape Village in Mashpee, Massachusetts, to Dividend Capital. The Cushman & Wakefield team oversaw the $35.45 million transaction of the Roche Brothers-anchored lifestyle center on behalf of Mashpee Investors, LLC.    

  • Retail Not Reaping Full Benefit of Consumers’ Savings at the Pump

    By Stephen Metivier, TD Bank

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