News

Exec pay at Walmart not as high as it could have been
Walmart increased hourly pay for employees earlier this year but top executives didn’t earn as much as they could have after the company came up short on key metrics.
Hancock Fabrics improves financial future
New York -- A major new credit agreement has been secured by the 262 store Hancock Fabric chain with Wells Fargo Capital and the newly formed Great American Capital Partners subsidiary of B. Riley Financial.

The new financing deal, executed a year and a half before an existing credit facility was due to expire, provides the struggling Hancock Fabric chain with a new five year, $100 million asset-backed credit facility from Wells Fargo and a $17.5 million term loan from Great American.

Sears Hometown and Outlet CEO out, search on for replacement

New York -- On the heels of disappointing sales trends, Sears Hometown and Outlet Stores Inc. said that its CEO W. Bruce Johnson will leave the company Aug. 1.

The company also announced that the board of directors has commenced a search for a new CEO and has retained Heidrick & Struggles, a leading global executive search firm, to assist the Board in identifying and evaluating external and internal candidates.
U.S. House passes cyber-threat information bill

Washington, D.C. -- The U.S. House of Representatives passed a long-awaited bill by a vote of 307-116 on Wednesday that would make it easier for private companies to share information about cybersecurity threats with the government without fear of lawsuits.

The bill must be approved by the U.S. Senate before it can be sent to President Barack Obama to sign into law. A similar measure was passed by a 14-1 vote in the Senate Intelligence Committee, and supporters say they expect strong bipartisan support in the full Senate as well.
Dunkin’ Brands starts 2015 strong, up to 750 new units to open in 2015

Canton, Mass. -- Dunkin’ Brands Group had a slam-dunk first quarter, with first quarter profit growth of 11.7%, a revenue increase of 8.1%, and U.S. same-store sales growth of 8% in its Baskin-Robbins unit. The Dunkin’ Donuts segment saw same-store sales climb a more modest 2.7%.

The chain added 79 net new restaurants worldwide during the quarter, which included 78 Dunkin Donuts in the U.S.
O'Reilly expansion stays on track

O’Reilly Automotive says it plans to build a new distribution center in Texas to help support its 205 new stores in 2015.

America’s second largest retailer in the automotive aftermarket industry said its expansion plans are on track after profit rose in the first quarter on higher sales and better margins, continuing a trend of 15% or greater profit growth for the past six years.
Amazon.com product sales slow, but not services

Amazon.com’s sales growth in the first quarter continued to outpace the overall e-commerce growth rate, especially Web services, but expenses related to interest and currency exchange caused the online leader to report a $57 million net loss.

Total sales for the quarter ended March 31 increased 15% to $22.72 billion but a strengthening of the U.S. Dollar caused a $1.3 billion currency exchange headwind. On a constant currency basis, which is how global retailers like to analyze their business, sales increased 22%.
Publix pharmacy marks major milestone
Founder of TJX Cos. to retire from board

The TJX Cos. Inc. announced Wednesday that Chairman Bernard Cammarata will retire following the company’s annual shareholder meeting scheduled for June 11.
Kohl's launches yoga wear line from Gaiam

The new focus on health and wellness merchandise at Kohl’s gets a big boost this week with the addition of an exclusive Gaiam women’s apparel collection.

The retailer has been greatly expanding its assortment of active lifestyle and wellness offerings through brand launches, partnerships and unique social integrations that further the company’s commitment to active and well lifestyles promoted under the Make Your Move initiative launched earlier this year.