Content about finance

January 26, 2015

Walgreens Boots Alliance Inc. has appointed George Fairweather, formerly group finance director of Alliance Boots, as executive vice president and global chief financial officer, effective Feb. 20.

Walgreens Boots Alliance Inc. has appointed George Fairweather, formerly group finance director of Alliance Boots, as executive vice president and global chief financial officer, effective Feb. 20.

Fairweather will succeed Timothy McLevish, who served as Walgreens CFO since August 2014, where he advanced the company’s completion of its merger with Alliance Boots to form Walgreens Boots Alliance and served as the initial global chief financial officer of the combined companies.

December 16, 2014

VeriFone and First Data are teaming up to help U.S. merchants reduce their exposure to data breaches and expedite merchant acceptance of EMV-enabled credit and debit cards.

VeriFone and First Data are teaming up to help U.S. merchants reduce their exposure to data breaches and expedite merchant acceptance of EMV-enabled credit and debit cards.

Large-scale theft of consumer payment data from merchants’ integrated point-of-sale (POS) systems is among the biggest challenges facing the payments industry.

December 12, 2014

A $43.5 million fine has been levied against 10 Wall Street firms for doing what they were asked by Toys “R” Us as the retailer prepared an ill-fated public stock offering in 2010.

A $43.5 million fine has been levied against 10 Wall Street firms for doing what they were asked by Toys “R” Us as the retailer prepared an ill-fated public stock offering in 2010.

The Financial Industry Regulatory Authority (FINRA) levied the $43.5 million fine against the 10 investment banks – but not Toys “R” Us – for allowing their equity research analysts to solicit investment banking business and offer favorable research coverage in connection with the retailer’s planned IPO in 2010.

December 11, 2014

University of Arkansas alumni Ann and Gene Bordelon have contributed $100,000 to establish the Faculty Innovation Endowed Fund for the benefit of the Sam M. Walton College of Business. 

University of Arkansas alumni Ann and Gene Bordelon have contributed $100,000 to establish the Faculty Innovation Endowed Fund for the benefit of the Sam M. Walton College of Business.

November 24, 2014

With the value of its flagship store on New York City’s Fifth Avenue appraised at an astonishing $3.7 billion, Saks parent Hudson’s Bay Co. has taken out a $1.25 billion loan to pay down debt and finance a $250 million renovation in 2015.

With the value of its flagship store on New York City’s Fifth Avenue appraised at an astonishing $3.7 billion, Saks parent Hudson’s Bay Co. has taken out a $1.25 billion loan to pay down debt and finance a $250 million renovation in 2015.

November 14, 2014

Books-A-Million has appointed Ronald J. Domanico to serve as a member of the board and a member of the audit committee of the board.

Books-A-Million has appointed Ronald J. Domanico to serve as a member of the board and a member of the audit committee of the board.

“We are very fortunate to have identified a director of the caliber and experience that Ron possesses,” said Clyde B. Anderson, the executive chairman of the board of directors of the company. “Ron is a seasoned financial executive that brings a depth of experience in finance, strategy, and operational matters to our board.”

November 14, 2014

Spanx, one of the hottest brands in retail, named finance executive Dan Glennon to the new role of COO and CFO to help drive growth at the leading shapewear brand.

Spanx, one of the hottest brands in retail, named finance executive Dan Glennon to the new role of COO and CFO to help drive growth at the leading shapewear brand.

Glennon will lead the cross functional teams of global finance, legal, information technology, sourcing, manufacturing and planning as well as data and analytics. He will report directly to Spanx CEO Jan Singer.

November 7, 2014

Mike Smith was named SVP finance and CFO North America at McCormick.  In this role he will oversee investor relations, treasury and serve as the CFO of the newly formed North American Leadership Team. 

Mike Smith was named SVP finance and CFO North America at McCormick.  In this role he will oversee investor relations, treasury and serve as the CFO of the newly formed North American Leadership Team. 

Smith’s new team focuses on North American alignment and strategy for growth, performance and people. Joyce Brooks, VP, investor relations and Bob Conrad, VP treasurer will report directly to Smith. 

November 7, 2014

Mike Smith was named SVP finance and CFO North America at McCormick.  In this role he will oversee investor relations, treasury and serve as the CFO of the newly formed North American Leadership Team. 

Mike Smith was named SVP finance and CFO North America at McCormick.  In this role he will oversee investor relations, treasury and serve as the CFO of the newly formed North American Leadership Team. 

Smith’s new team focuses on North American alignment and strategy for growth, performance and people. Joyce Brooks, VP, investor relations and Bob Conrad, VP treasurer will report directly to Smith. 

October 14, 2014

Leading cosmetics retailer Ulta Beauty named veteran financial industry executive Michelle Collins to its board.

Leading cosmetics retailer Ulta Beauty named veteran financial industry executive Michelle Collins to its board.

September 24, 2014

Walmart already offers a prepaid debit card, credit card, check cashing and money transfers, but it’s expanding its financial services to include an exclusive checking account called GoBank, with Green Dot Corp., a prepaid-cards specialist.

Walmart already offers a prepaid debit card, credit card, check cashing and money transfers, but it’s expanding its financial services to include an exclusive checking account called GoBank, with Green Dot Corp., a prepaid-cards specialist.

The checking account is linked to MasterCard debit cards. GoBank, which will be available nationwide by the end of October, doesn’t charge overdraft fees or minimum balance fees and waives the monthly membership cost of $8.95 with qualifying direct deposits of $500 a month.

September 23, 2014

PayItSimple, a new service that lets consumers charge any purchase on their existing credit cards and pay it back in monthly, interest free installments, has launched in the United States.

PayItSimple, a new service that lets consumers charge any purchase on their existing credit cards and pay it back in monthly, interest free installments, has launched in the United States.

PayItSimple supports an omnichannel shopping experience and is available for e-commerce, brick-and-mortar, mobile and all other payment platforms.

September 18, 2014

Solid same store sales growth at Rite Aid caused second quarter profits to surge but looming pressure on pharmacy margins prompted the company to reduce its full year outlook.

Solid same store sales growth at Rite Aid caused second quarter profits to surge but looming pressure on pharmacy margins prompted the company to reduce its full year outlook.

September 15, 2014

Late last month, Ann Inc. received an open letter from activist investors Engine Capital and Red Adler urging the company to sell at a substantial premium above current stock price.

Late last month, Ann Inc. received an open letter from activist investors Engine Capital and Red Adler urging the company to sell at a substantial premium above current stock price. The company has today publicly responded to the letter, stressing its board is “very active and consistently has been, and remains, focused on enhancing shareholder value.”

Ann Inc. also said its board regularly reviews all options and uses a financial adviser to help evaluate them.

September 11, 2014

Although Lululemon CEO Laurent Potdevin recognizes that there is still much to be done, he praised the company’s “meaningful” progress on building a scalable foundation for its next phase of global growth.

Although Lululemon CEO Laurent Potdevin recognizes that there is still much to be done, he praised the company’s “meaningful” progress on building a scalable foundation for its next phase of global growth.

Net revenue for the quarter increased 13% to $390.7 million from $344.5 million in the second quarter last year.

September 8, 2014

The Children's Place has appointed Robert Vill as group VP of finance. He will report to Michael Scarpa, chief operating officer and CFO.

The Children's Place has appointed Robert Vill as group VP of finance. He will report to Michael Scarpa, chief operating officer and CFO.

"Bob brings to The Children's Place a wealth of financial expertise in the areas of corporate finance, treasury and investor relations," Scarpa said. "I am very pleased to welcome him to our team."

September 3, 2014

Amazon has confirmed that SVP and CFO Thomas J. Szkutak plans to retire from the company in June 2015. Succeeding him will be Brian T. Olsavsky, VP of finance for the company’s global consumer business, reporting to founder and CEO Jeffrey P. Bezos.

Amazon has confirmed that SVP and CFO Thomas J. Szkutak plans to retire from the company in June 2015. Succeeding him will be Brian T. Olsavsky, VP of finance for the company’s global consumer business, reporting to founder and CEO Jeffrey P. Bezos.

Szkutak has been Amazon’s CFO since joining the company in October 2002 and oversees the controller, treasury, investor relations, tax, internal audit and facilities functions as well as financial management of the company’s business units.

August 28, 2014

Digital talent is a hot topic among retail CEOs today — primarily, where to find enough talent to develop the organization’s “digital DNA” at every level and in every area of the business.

Digital talent is a hot topic among retail CEOs today — primarily, where to find enough talent to develop the organization’s “digital DNA” at every level and in every area of the business. With digital talent within retail in short supply, we now have to proactively go further afield — whether in travel, finance, the tech industry or elsewhere — to identify and woo the digital experts our companies need to grow.

August 25, 2014

Ann Inc. is being urged to explore options, including a sale, by activist investor Engine Capital and Red Alder. The two firms, who collectively own more than 1% of the outstanding shares of Ann Inc., are publicly urging the company to sell at a substantial premium above current stock price.

Ann Inc. is being urged to explore options, including a sale, by activist investor Engine Capital and Red Alder. The two firms, who collectively own more than 1% of the outstanding shares of Ann Inc., are publicly urging the company to sell at a substantial premium above current stock price.

In an open letter to the retailer’s board of directors, Engine Capital and Red Alder stated that the company is “deeply undervalued” and could be worth $50 to $55 a share to an acquirer, or a 33- to 46.5% premium to its current stock price.

August 21, 2014

Kirkland's SVP and CFO W. Michael Madden has been promoted to president and chief operating officer, effective immediately. Madden will remain the company’s principal financial officer pursuant to S.E.C requirements.

Kirkland's SVP and CFO W. Michael Madden has been promoted to president and chief operating officer, effective immediately. Madden will remain the company’s principal financial officer pursuant to S.E.C requirements.

The company also promoted SVP of stores/human resources Michelle R. Graul to EVP of stores and merchandising, and VP of finance Adam C. Holland to chief accounting officer.

August 21, 2014

ATM company Payment Alliance International announced Thursday that it would be partnering with Los Angeles-based SchoolsFirst Federal Credit union to brand ATMs at Rite Aid locations in the city.

ATM company Payment Alliance International announced Thursday that it would be partnering with Los Angeles-based SchoolsFirst Federal Credit union to brand ATMs at Rite Aid locations in the city.

Some 109 ATMs will be emblazoned with the credit union’s color and logo, and members will be able to use them without incurring an ATM fee. PAI, which owns, the ATMs, will operate and maintain them.

August 6, 2014

Toys“R”Us has appointed Chetan Bhandari as the company’s SVP, corporate finance and treasurer. He will report to EVP and CFO Mike Short.

Toys“R”Us has appointed Chetan Bhandari as the company’s SVP, corporate finance and treasurer. He will report to EVP and CFO Mike Short.

August 4, 2014

Walgreens has appointed Timothy McLevish as Walgreens EVP and CFO. He will report to president and CEO Greg Wasson, and lead all of Walgreens’ finance functions as the company prepares to move forward with the proposed second step of its strategic partnership with Alliance Boots.

Walgreens has appointed Timothy McLevish as Walgreens EVP and CFO. He will report to president and CEO Greg Wasson, and lead all of Walgreens’ finance functions as the company prepares to move forward with the proposed second step of its strategic partnership with Alliance Boots.
 

August 1, 2014

Staples has teamed up with Fundable, a business crowdfunding platform, to launch a new contest called Crowd2Shelf, which invites entrepreneurs and small businesses to leverage crowdfunding for a chance to sell their products in Staples stores as well as online.

Staples has teamed up with Fundable, a business crowdfunding platform, to launch a new contest called Crowd2Shelf, which invites entrepreneurs and small businesses to leverage crowdfunding for a chance to sell their products in Staples stores as well as online.

July 24, 2014

Rite Aid has appointed former Roundy’s executive Darren Karst as EVP and CFO, effective Aug. 20, to succeed Frank Vitrano, who has announced he will retire in Sept. 2015. Karst will report to Rite Aid’s chairman and CEO John Standley.

Rite Aid has appointed former Roundy’s executive Darren Karst as EVP and CFO, effective Aug. 20, to succeed Frank Vitrano, who has announced he will retire in Sept. 2015. Karst will report to Rite Aid’s chairman and CEO John Standley.

Karst will be responsible for all aspects of the company’s finance, accounting, treasury, tax, investor relations, legal, risk management, internal assurance and asset protection functions.