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FINANCE

  • Rent the Runway raises new round of funding amid expansion
    Rent the Runway’s total investment keeps growing.    The dress rental business announced it has closed on a $60 million round of funding, led by Fidelity Management and Research Company with additional money from such existing investors as Bain Capital Ventures and Highland Capital Partners. Total investment in the company now stands at $190 million.      

  • FTC expected to rule on Walgreens-Rite Aid merger before Trump takes office
    The U.S. Federal Trade Commission will rule on the Walgreens Boots Alliance-Rite Aid merger before the Trump Administration takes office on Jan. 20, according to the New York Post. The newspaper added approval of the transaction is “not guaranteed.”   “It is most likely [FTC] Chairwoman Edith Ramirez addresses it before she leaves,” a source close to the situation told the news outlet, and not leave it to a Republican-led FTC.  

  • The CFO’s Expanded Role in Profitably Managing the Retail Transformation
    With the retail environment undergoing the most complex changes in our generation, the sustainability of the current retail economic model is in question.    Historically, retail CFO’s, as the principal financial oficers, were primarily responsible for more traditional finance, treasury, regulatory, information delivery and related functions.   

  • Walgreens acquisition of Rite Aid expected to close in early 2017
    Walgreens Boots Alliance’s acquisition of Rite Aid took a big step forward with announcement of the divestiture of 865 Rite Aid stores to Fred’s Pharmacy for $950 million.   

  • Off-price retailer acquired with eye to expansion
    Private-equity firm Warburg Pincus has agreed to acquire Gabriel Brothers (Gabe's) from Alvarez & Marsal Capital.   The terms of the transaction were not disclosed.  

  • Report: The first retail bankruptcy of 2017 could be…
    Limited Stores LLC is planning to file for Chapter 11 bankruptcy protection within weeks, Bloomberg reported, and will most likely liquidate its business.  

  • Finish Line goes off course in Q3
    Finish Line missed analyst estimates for third quarter earnings, an issue the company blames on declines in its apparel and accessories categories.   The athletic specialty retailer reported revenue of $371.1 million for the 13 weeks ended Nov. 26, 2016. While this is an increase of 3.0% over the prior year period, it falls short of the consensus estimate of $411.61 million.   

  • Bed Bath & Beyond falls short
    Bed Bath & Beyond Inc. reported less-than-expected earnings for its third quarter, hurt by continuing higher expenses and flat sales.   The retailer’s profit dropped to $126.4 million or $0.85 per share, from $177.8 million or $1.09 per share in the year-ago period.    Sales inched up 0.1% to $2.96 billion, also lower than expected.  
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