FINANCE

Sears Holdings has a new finance chief — again.   The struggling retailer announced that Rob Riecker, currently controller and head of capital market activities, has been appointed CFO, effective immediately. He replaces Jason Hollar, who resigned “to pursue another career opportunity,” the retailer said. Hollar was appointed to the role in October 2016.  

Retailers concerned over the pending border-adjusted tax have boosted their lobbying efforts in Washington.   Target Corp., Gap Inc., and Best Buy Co. Inc. spent nearly $3.2 million combined on lobbying during the quarter – as opposed to just $830,000 in the same period a year ago – according to federal lobbying disclosures filed Thursday, Bloomberg reported, while Wal-Mart spent almost $2.2 million in the first quarter, an increase of $140,000 over the same time last year.   

The founder and CEO of Edible Arrangements has bought back equity ownership of the company.    Tariq Farid announced Monday that he has completed a buyback of equity of the company, which had been held by private equity firm L Catterton, Greenwich, Connecticut. Terms of the transaction were not disclosed.  

Things aren’t getting any better at Sears Holdings, at least not sales wise.   The struggling chain on Friday provided an update on its restructuring program, increased its cost-saving target, and also gave a first quarter update. Since the beginning of the fiscal year, same-store sales at Sears and Kmart declined 11.9% on a combined basis, 10.8% when excluding consumer electronics, compared to the year-ago period.  

99 Cents Only Stores turned in a strong sales performance for its fourth quarter, even as its net loss grew amid rising expenses.   The retailer reported a net loss of $20.9 million for the quarter, versus a net loss of $18.4 million in the year ago period.   Net sales increased 6.7% to $552.5 million, while same-store sales rose 6.4%. Average ticket gained 4.4% and customer traffic increased 1.9%. Operating loss was $6.5 million versus $2.7 million in the period a year prior.  

It’s curtain time for Bebe Stores — or at least its brick-and-mortar operations.  

Birchbox is no longer in the red.   The online subscription beauty retailer has achieved profitability, MediaPost reported, and is returning to television advertising with a spot that speaks to the joy the company’s monthly beauty box brings to its customers.   Founded in 2010, Birchbox had a tough 2016 during which it cut costs and laid off staff. But investments in technology and automation have helped it turn a corner.    

Britain's largest sporting goods retailer is extending its presence in the United States.    Sports Direct International Plc has bought Eastern Outfitters, parent company of Bob’s Stores and Eastern Mountain Outfitters. Sports Direct, which operates some 700 stores in the U.K. and continental Europe, has been wanting to expand in the United States. Last year, it bid for the intellectual property of Sports Authority, but lost out to Dick's Sporting Goods.