FINANCE

Bankruptcies in the sporting goods sector is taking a toll on Under Armour, but the brand still managed to beat expectations in its first quarter.   

Office Depot continues to make good on its promise to focus on its North American business.     The retailer said it has closed on the sale of its business in South Korea to Excelsior Capital Asia, a Hong Kong- and Korea-based direct investment firm. Excelsior invests throughout Asia on behalf of major Korean institutions, pension funds and private family offices.  

Walmart is making its cheaper and faster for its customers to send money.   The retailer is adding new “rollback” fees to its Walmart2Walmart money transfer program. The new fees, beginning Wednesday, April 24, save customers between 20% and 90% on cash transfers versus the leading competitor, according to Walmart.  For example, shoppers sending $250 will pay $8 through the new program, compared to fees that could range between $12.50 and $24 on Western Union, the retailer reported.  

In an action that reflects its strong performance, Costco Wholesale Corp. is about to return some $3.1 billion to investors.    The retailer announced a special cash dividend on Costco common stock of $7.00 per share, payable May 26, 2017, to shareholders. The dividend is in addition to a 5 cent increase of the company’s quarterly cash dividend to 50 cents a share.  

Bankrupt sporting goods retailer Gander Mountain may live to see another day.   Sportsman’s Warehouse Holdings Inc. is planning to bid for as many as 80% of Gander Mountain’s stores, Bloomberg reported. Gander Mountain filed for bankruptcy on March 10.  

Rite Aid managed to best analyst forecasts for the fourth quarter even as its chairman and CEO noted that "the extended duration of the merger process" with Walgreens Boots Alliance is "having a negative impact" on the company's results.    Rite Aid’s revenue rose a better-than-expected 2.7% to $8.5 billion in the quarter. Same-store sales fell 3.0%, consisting of a 4.3% decrease in pharmacy sales and a 0.3% decrease in front-end sales.  

April's consumer confidence metric didn't live up to the new benchmark established in March, when consumer confidence reached a 16-year high.   This month, the Index declined to 120.3 from 124.9 in March.  

Deckers Brands announced on Tuesday is it reviewing strategic alternatives, including a possible sale.   The decision comes as the company said it has made “significant progress” in streamlining its cost structure, optimizing its retail store fleet, and realigning its brands to improve profitability. Deckers portfolio includes the popular footwear brands Ugg and Teva.