FINANCE

  • Supplier survey bodes well for retail sales

    If the major suppliers of soft goods such as clothing and accessories to retail stores are a bellwether of the economy, then the coming months are looking to provide a jolt as 75% of these suppliers expect retail sales to significantly outpace the gross domestic product for the spring and summer shopping season.

    That’s one of the major findings of a new survey conducted by Capital Business Credit.

  • Department store giant cuts bonuses for top execs

    Macy’s CEO and other top executives are feeling the pain of the chain’s disappointment financial performance in 2015. The board decided to award no bonuses after the chain fell short of its sales, cash flow and earnings goals, Macy’s said in a regulatory filing, according to Bloomberg. [Bloomberg]

  • Foot Locker treads new territory on Wall Street

    Following a record performance in 2015, Foot Locker has become the newest member of the S&P 500 index, which bodes well for the performance of the company’s share price.

    After the close of trading on Friday, April 1, Foot Locker will replace oil and gas equipment services provider Cameron International as the newest constituent in the S&P 500 index, according to a statement by S&P Dow Jones Indices LLC, a part of McGraw Hill Financial. A spot on the S&P 500 index opened up after Cameron was acquired by Schlumberger Ltd.

  • Why Costco won’t have a problem with California’s $15 minimum wage

    In a history-making move that would have a direct impact on the retail industry and food service sector, the state of California has moved closer to raising the statewide minimum wage to $15 an hour by 2022.

  • Court rules Puerto Rico can’t gouge Walmart

    A court ruling struck down a provision adopted by Puerto Rico last year that tripled the tax revenue the debt-laden island extracted from Walmart, Reuters reported. [Reuters]

  • Retail CFOs: The Chief Executive’s New Consigliore

    With the retail environment changing so rapidly today, and technology impacting everything a store does, the role of the chief financial officer has become more important than ever. When I started recruiting in 1990, the business was much simpler — we hired retail executives based on a linear skillset and departments operated in individual silos. Today, it is much more complex, as the C-suite works in collaboration to keep up with an increasingly savvy consumer.

    So, what then do you look for in a CFO today?

  • GameStop emerges victorious from transitional 2015

    GameStop's efforts to generate growth by diversifying its business model worked well in 2015, as the video game retailer posted its third straight year of positive comps.

  • Francesca's was a big holiday shopping destination

    Francesca’s says its fourth quarter financial results show that the retailer's growth initiatives are bearing fruit, as the company posted a big jump in same-store sales over the holidays.

    For the fourth quarter and fiscal year ended Jan. 30, same-store sales at Francesca's increased 11%. Net sales increased 25% to $134.6 million from $107.6 million in the prior year quarter.Net income totaled $14.7 million, or 35 cents diluted earnings per share, compared to $6.0 million, or 14 centsdiluted earnings per share, in the comparable prior year period.

  • Report: Ahold to sell Richmond-area Martin’s stores ahead of merger

    The Richmond Times-Dispatch is reporting that the 19 Martin’s Food Markets stores in the area will be either sold or closed as the completion of parent company Ahold’s merger with Delhaize Group. The Richmond-area stores are just some of the 83 stores the combined companies are looking to unload across the eastern and northeastern U.S. (Richmond Times-Dispatch)

  • Analysis: Tween and teen retailers remain financially vulnerable

    Apparel chains focused on tweens and teens are increasingly at risk of filing for bankruptcy protection.

    At least that’s the view of Michael McGrail, COO of Tiger Capital Group and a veteran retail liquidation and asset appraisal executive.

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