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M&A and Financial ARCHIVE

Winter Weather to Blame for FedEx Third Quarter Earnings  Mar 20, 2014 4:38 PM By Erin Lynch

FedEx said this week that its third quarter earnings took a direct hit thanks, in most part, to severe weather during the holiday shopping season.

Destination XL’s 4Q Ecommerce Sales Rise 6.1%  Mar 14, 2014 11:24 AM By Tim Parry

But Destination XL’s overall sales were down for the fourth quarter. Total sales were $108.5 million compared with $114.9 million in the fourth quarter of fiscal 2012.

Men’s Wearhouse To Acquire Jos. A. Bank for $1.8 Billion  Mar 11, 2014 12:28 PM By MCM Staff

Men’s Wearhouse and Jos. A. Bank announced that the merchants have entered into a definitive agreement in which Men’s Wearhouse will acquire all of the outstanding shares of common stock of Jos. A. Bank for $1.8 billion. Together, Men’s Wearhouse and Jos. A. Bank will have more than 1,700 stores in the U.S., with approximately 23,000 employees and sales of $3.5 billion on a pro forma basis.

Target CIO Resigns after Holiday Security Breach  Mar 05, 2014 1:21 PM By Erin Lynch

Target has announced that Beth Jacob, chief information officer, is resigning from her position as part of an “overhaul” of the retailer’s information security and compliance structure. Jacob’s resignation is effective March 5.

RadioShack Announces 1,100 Store Closings and Q4 Sales Decline  Mar 04, 2014 3:31 PM By Erin Lynch

RadioShack announced this week that it plans to close 1,100 under performing stores as well as huge losses in its fourth quarter earnings. According to its Q4 financials, the electronics retailer reported that net sales and operating revenues for the quarter decreased to $935.4 million from $1.17 billion in the same quarter last year

Best Buy’s 4Q Ecommerce Sales Increase 25.8%  Feb 27, 2014 10:44 AM By Daniela Forte

It was a good quarter for online sales at Best Buy. The company reported that comparable online sales of $1.57 billion saw an increase of 25.8% over 2012, according to its earnings release.

Chico’s FAS 4Q Net Sales Down 6.4%, FY Sales Flat  Feb 27, 2014 9:21 AM By MCM Staff

Chico’s FAS ended its fiscal year with flat net sales, and was hurt by a 6.4% decrease in fourth-quarter sales, the retailer said in its earnings release.

Sears Holdings’ FY Revenues Down $1.7 Billion  Feb 27, 2014 6:49 AM By Tim Parry

Sears Holdings’ domestic comparable store sales declined 3.8%, comprised of decreases of 3.6% at Kmart and 4.1% at Sears Domestic in fiscal year 2013. Here’s a full look at Sears Holdings’ full-year financial results.

Macy’s Addresses Omnichannel and Same-day Delivery  Feb 26, 2014 2:03 PM By Erin Lynch

While the fourth quarter showed a 1.6% decline in sales, Karen M. Hoguet, chief financial officer at Macy’s, said moving forward the retailer plans on making strides in its omnichannel fulfillment initiatives including buy online, pick up in-store, and same-day delivery.

Data Breach Affects Target’s 4Q U.S. Sales  Feb 26, 2014 8:05 AM By Tim Parry

What did the major data breach at Target mean for the merchant’s bottom line? It meant fewer consumers shopping at the mass merchant, as well as a $17 million net expense related to the data breach investigation. Target announced Wednesday that sales for its U.S. segment in the fourth-quarter decreased 6.6%.






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