Entries tagged "retailers"

Hilco's Cory Lipoff on the retail reorg challenge

Hilco's Cory Lipoff says the inventories of many retailers are so highly leveraged that there's little if any money available for a reorganization.

Family Dollar bucks retailing trend

While some retailers struggle to stay competitive (or even solvent) during the recession, the deep-discount retailing sector is having no trouble making money. Family Dollar Stores Inc., for instance, said Wednesday it raised its earnings estimates to $1.63 to $1.81 per share for its fiscal year, which ends Aug. 29, up from a prior estimate of $1.58 to $1.78. Additionally, Family declared that net income for the first quarter increased 14.1% to $59.3 million compared with net income of $51.9 million for the first quarter of fiscal 2008....

Could Borders' next page be Ch. 11?

Bookstore chain Borders Group Inc. culminated a rough 2008 with an announcement Monday that it hired a new CEO following a sales drop of 14.4% during the holiday season compared to the same period in 2007. The numbers likely prompted the executive change, but the move may be too little too late. With the economy reeling and discretionary income low, many speculate the next move for Borders maybe a Chapter 11 filing. ...

Retailer losses ahead of Black Friday could help activist investors

As Black Friday approaches, retailers are scrambling to meet business plans, especially with activist investors clamoring for changes. According to CNBC projected forecasts vary from the National Retail Federation's estimated 2.2% year-over-year sales gain to Global Hunter Securities' 6% to 8% decline. But some retailers are getting slammed harder than others, and activist investors on their boards will most likely have something to say about it. ...

Fretful gift card holders get a break

Worried holders of gift cards bearing the brand of bankrupt retailers such as Linens Holdings Co. (Linens 'n Things), Circuit City Stores Inc. and Tweeter Opco LLC (Tweeter): fear not. A company called Giftcardrescue.com has got you covered. ...

For Steve & Barry's, speed kills

As far as bankruptcy filings go, BH S&B Holdings LLC's (once known as Steve & Barry's LLC) Thursday petition may have set a record, and a dubious one at that. Yes, the discount clothing store chain is bankrupt once again, a repeat offender that has entered the ignominy of Chapter 22 (not really part of the federal bankruptcy code, but just a colloquialism for a debtor whose filed for Chapter 11 twice)....

Retail industry leads Auction Block parade

While there seems to be a debate on whether we're in a recession, retailers might answer that question with an emphatic: yes! Slowing sales have pushed some retailers to scale back their operations and even put some or all of their businesses up for auction. According to The Deal's Auction Block database, which defines the industry as both stores and restaurants, the 16 auctions announced in 2008 leads a set of 24 industries in various stages of auction so far this year. This follows 2007 when the retail sector placed in second with 65 companies in varying stages of auction,...

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