Financial/Banking

It has been about five months since the Target data breach made the vulnerability of retail POS data a hot topic. Investigation has since shown the Target breach did not involve POS terminals. However, high-profile thefts of customer payment card data from Target and other retailers including Neiman Marcus, Michaels and Sally Beauty Supply have highlighted the need for U.S. retailers to adopt the global Europass, MasterCard and Visa (EMV) standard for accepting payments from cards that store consumer information on secure embedded microchips, rather than on magnetic stripes.

Lakeland, Fla. -- Publix reported that its profit rose 4.8% to $493.7 million in its first quarter.  

Sales increased 4.1% to $7.8 billion, with a 4% increase in same-store sales.  

Publix estimated that its sales were negatively impacted by 1.3% due to the later Easter this year.  

Effective May 1, Publix’s stock price increased from $30.15 per share to $32.50 per share. Publix stock is not publicly traded and is available only to current Publix employees and members of its board of directors.

Northbrook, Ill. — Pine Tree Commercial Realty has named Erin Bremen VP of acquisitions and due diligence. Bremen will oversee underwriting and due diligence for new acquisitions.

Pleasanton, Calif. - Prepaid payment network Blackhawk Network (Canada) Ltd. has launched its digital platform in the Canadian market, by offering Blackhawk's gift card products to Rogers' customers in the new Suretap wallet application. The application allows customers to safely store eligible payment and gift cards on their smartphones and make purchases directly from the phone by holding it up to contactless payment terminals. 

In general, the top acquirers of 2013 logged big gains over 2012

Editor’s Note: The 25th annual Chain Store Age survey of Fastest-Growing Acquirers surveyed retail square footage purchased during the 2013 calendar year.

Lenders are lending again, the equity markets are investing again, and buyers and sellers appear to be moving retail real estate faster than last year — which was a relatively good recovery year.

Fort Worth, Texas – Pier 1 Imports (U.S.) Inc., a subsidiary of Pier 1 Imports Inc., has completed the amendment of its $350 million senior secured revolving credit facility and syndicated and closed a previously announced $200 million seven-year senior secured term loan B.

Proceeds from the $200 million term loan are intended to be used for general corporate purposes, including, among other things, working capital needs, capital expenditures, cash dividends and repurchases of the company’s common stock.

New Albany, Ohio -- Abercrombie & Fitch Co. will nominate for election to its board of directors four new independent director candidates: Bonnie R. Brooks, Sarah M. Gallagher, Diane L. Neal and Stephanie M. Shern. The board retained a third-party search firm to assist in the search process for new independent directors with relevant experience.

Despite what president and CEO Ajay Banga called a “mixed global economy,” MasterCard Incorporated kicked off the year with a strong quarter.

The company reported net income of $870 million, up 14%, and earnings per diluted share of $0.73, up 18%, in each case versus the year-ago period.