Furniture group – Nordic Mobler http://nordicmobler.com/ Thu, 23 Jun 2022 01:28:28 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://nordicmobler.com/wp-content/uploads/2021/10/cropped-icon-32x32.png Furniture group – Nordic Mobler http://nordicmobler.com/ 32 32 Nike, La-Z-Boy, Altria Group, Coinbase, Dow and more https://nordicmobler.com/nike-la-z-boy-altria-group-coinbase-dow-and-more/ Wed, 22 Jun 2022 16:21:18 +0000 https://nordicmobler.com/nike-la-z-boy-altria-group-coinbase-dow-and-more/

People walk past a store of sporting goods retailer Nike Inc. at a shopping complex in Beijing, China, March 25, 2021.

Florence Lo | Reuters

Check out the companies making headlines on Wednesday at noon.

Nike – Shares of the sportswear retailer fell more than 3% after Seaport downgraded the stock to neutral from the buy. The Wall Street firm said Nike was facing rising inflation and supply chain disruptions.

La-Z-Boy – Shares of the furniture maker jumped more than 8% after La-Z-Boy reported its fiscal fourth quarter results. The company, which is covered by a few Wall Street analysts, said consolidated net sales were up 32% year-over-year, with net profit also up, driven mainly by strong sales growth in big. The company’s CEO said in a statement that La-Z-Boy expects demand to be “volatile for the foreseeable future.”

Altria Group – The tobacco company fell 9% after the Wall Street Journal reported that the Food and Drug Administration was preparing to order Juul Labs to pull its e-cigarettes from the US market. The Biden administration also plans to propose a rule to establish a maximum level of nicotine in cigarettes.

Coinbase – Shares of the crypto services company fell 7.6% on Wednesday after rival crypto exchange Binance.US announced it was reducing spot bitcoin trading fees for customers. Coinbase has historically relied heavily on transaction volumes to generate revenue, but in recent months it has sought to diversify its revenue streams.

Revlon – Cosmetics stock jumped more than 35%, extending a rally that came after the company filed for Chapter 11 bankruptcy last week. Revlon climbed 62% in the previous session.

Airbnb – The vacation rental company saw its shares fall 2% after JMP Securities downgraded it from market outperformer to market performer. The analyst said the post-pandemic jump in travel demand was already reflected in Airbnb’s valuation.

Dow – The chemical maker’s shares fell 5.8% after Credit Suisse downgraded them to underperform from neutral, saying the stock’s valuation looks expensive amid potentially unsustainable results and several Pandemic-related factors that drove Dow could reverse in the coming years.

Jack In The Box – Shares of the fast food company fell more than 3% after Cowen downgraded the stock to market performance from outperformance. The Wall Street firm has raised concerns about slowing same-store sales growth.

– CNBC’s Jesse Pound and Tanaya Macheel contributed reporting.

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Oswestry Lions confirm sponsorship of Attfield youth group https://nordicmobler.com/oswestry-lions-confirm-sponsorship-of-attfield-youth-group/ Tue, 21 Jun 2022 13:14:21 +0000 https://nordicmobler.com/oswestry-lions-confirm-sponsorship-of-attfield-youth-group/ A YOUTH theater troupe was strengthened through the sponsorship of a community group for its summer.

The Oswestry Lions Club has agreed to sponsor Attfield Theatre’s youth group A Little Bit Dramatic, with a number of Lions attending the group’s inaugural performance in March this year.

A Lions spokesperson said they were delighted to support a group with great talent.

They said, “We were amazed by the talent.

“The show was written, performed and directed by the young theater troupe who also provided the stage furniture, lighting and sound.

“The Attfield Theater Company is committed to encouraging young people to actively participate in all aspects of theater and to feel able to explore their own talents and interests, to work in groups and to be comfortable offering their own ideas.

“The company was established in 1928 and therefore has a wealth of experience to pass on to young people in this region and facilities to encourage them to appreciate all facets of theatre.”

The A Little Bit Dramatic youth theater group meets on Saturday, June 25 and invites young people interested in being part of the new group to come and meet the team.

For full details of participation please contact Debbie Jones, 01691 653413 or email debbie.llysaber@yahoo.co.uk

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SPAR Group (NASDAQ:SGRP) and Augmedix (OTCMKTS:AUGX) Direct Comparison https://nordicmobler.com/spar-group-nasdaqsgrp-and-augmedix-otcmktsaugx-direct-comparison/ Sun, 19 Jun 2022 20:20:49 +0000 https://nordicmobler.com/spar-group-nasdaqsgrp-and-augmedix-otcmktsaugx-direct-comparison/

Augmedix (OTCMKTS:AUGX – Get Rating) and SPAR Group (NASDAQ:SGRP – Get Rating) are both small cap medical companies, but which is the better company? We will compare the two companies based on the strength of their analyst recommendations, earnings, risk, valuation, profitability, institutional ownership and dividends.

Valuation and benefits

This table compares the gross revenue, earnings per share (EPS) and valuation of Augmedix and SPAR Group.

Gross revenue Price/sales ratio Net revenue Earnings per share Price/earnings ratio
Augmedix $22.17 million 3.14 -$17.85 million ($0.60) -3.10
SPAR Group $255.72 million 0.09 -$1.78 million ($0.09) -11.55

SPAR Group has higher revenue and profit than Augmedix. SPAR Group is trading at a lower price-to-earnings ratio than Augmedix, indicating that it is currently the more affordable of the two stocks.

Institutional and insider ownership

59.0% of Augmedix shares are held by institutional investors. By comparison, 7.8% of SPAR Group shares are held by institutional investors. 59.6% of SPAR Group shares are held by company insiders. Strong institutional ownership is an indication that endowments, large money managers, and hedge funds believe a company is poised for long-term growth.

Analyst Notes

This is a summary of recent recommendations and price targets for Augmedix and SPAR Group, as reported by MarketBeat.com.

Sales Ratings Hold odds Buy reviews Strong buy odds Rating
Augmedix 0 0 5 0 3.00
SPAR Group 0 0 0 0 N / A

Augmedix currently has a consensus price target of $6.00, indicating a potential upside of 222.58%. Given Augmedix’s possible higher upside, equity research analysts clearly believe that Augmedix is ​​more favorable than SPAR Group.

Profitability

This table compares the net margins, return on equity and return on assets of Augmedix and SPAR Group.

Net margins Return on equity return on assets
Augmedix -77.52% -251.74% -53.94%
SPAR Group -0.80% 3.86% 1.63%

Summary

SPAR Group beats Augmedix on 7 of the 11 factors compared between the two stocks.

Augmedix Company Profile (Get a rating)

Augmedix, Inc. provides remote medical documentation solutions and live clinical support services in the United States. Its platform offers Augmedix Live and Augmedix Notes solutions that provide pre-visit documentation, such as pre-creation and digitization of previous records/patient history; documentation during the visit, including medical notes, care gap reminders, HCC reminders, and post-visit summaries; and post-visit documentation including coding, orders, and references. The company allows clinicians to access its apps through mobile devices, such as smartphones or Google Glass. It serves health systems and specialist groups. The company was founded in 2013 and is based in San Francisco, California.

SPAR Group Company Profile (Get a rating)

SPAR Group, Inc., together with its subsidiaries, provides brand merchandising and marketing services worldwide. The Company offers syndicated and dedicated merchandising services at the retail store level for retailers, manufacturers and distributors; and project services, such as new product launches, seasonal or special promotional merchandising, product assistance, product recalls, in-store product demonstrations and in-store product sampling, and restocking of newsstand products, inventory control, new and existing store resets, re-merchandising, category remodels and implementations, and under annual or stand-alone contracts or project agreements. It also provides retailer-specific services consisting of in-store services, including new store openings, new store sets and existing store resets and refurbishments, and under annual contract or project agreements. or autonomous. Additionally, the company assembles furniture, grills, and other products in stores, homes, and offices; performs continuous routed coverage at outlets; and offers home and office assembly to customers who purchase their product from retailers. Additionally, it provides experienced distribution center personnel and resources to retailers and consumer goods manufacturers; offers retail compliance and price audit services initiated by retailers and manufacturers and focuses on validating in-store promotions, auditing compliance with branding and signage, verifying the product placement and displays, collecting inventory levels and out-of-stock status; and collecting competitive pricing information for retailers, as well as ensuring pricing accuracy and consistency within the retail business itself. The company serves grocery and drug stores, discount, dollar, convenience, take-out, home improvement, consumer electronics, automotive, and office supply stores; pharmacies; and large areas. SPAR Group, Inc. was founded in 1967 and is headquartered in Auburn Hills, Michigan.



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The Dixie Group, Inc. (NASDAQ:DXYN) sees sharp drop in short-term interest https://nordicmobler.com/the-dixie-group-inc-nasdaqdxyn-sees-sharp-drop-in-short-term-interest/ Fri, 17 Jun 2022 12:44:50 +0000 https://nordicmobler.com/the-dixie-group-inc-nasdaqdxyn-sees-sharp-drop-in-short-term-interest/

The Dixie Group, Inc. (NASDAQ:DXYN – Get Rating) was the target of a sharp decline in short-term interest during the month of May. As of May 31, there was short interest totaling 51,400 shares, down 16.7% from the May 15 total of 61,700 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average trading volume of 43,200 shares, the day-to-cover ratio is currently 1.2 days.

A number of large investors have recently increased or reduced their holdings in DXYN. First Eagle Investment Management LLC increased its stake in The Dixie Group by 119.8% in Q1. First Eagle Investment Management LLC now owns 136,865 shares of the textile maker worth $424,000 after buying an additional 74,588 shares in the last quarter. Essex Investment Management Co. LLC increased its stake in The Dixie Group by 63.5% during the fourth quarter. Essex Investment Management Co. LLC now owns 150,432 shares of the textile maker worth $862,000 after buying an additional 58,399 shares in the last quarter. Morgan Stanley increased its stake in The Dixie Group by 14.6% during the second quarter. Morgan Stanley now owns 455,500 shares of the textile maker worth $1,335,000 after buying an additional 58,150 shares in the last quarter. Hodges Capital Management Inc. increased its stake in The Dixie Group by 2.1% during the first quarter. Hodges Capital Management Inc. now owns 2,239,273 shares of the textile maker worth $6,942,000 after buying an additional 46,700 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in The Dixie Group during Q3 worth approximately $96,000. Hedge funds and other institutional investors own 57.03% of the company’s shares.

DXYN opened at $1.65 on Friday. The Dixie Group has a one-year low of $1.54 and a one-year high of $6.98. The company has a current ratio of 2.82, a quick ratio of 1.06 and a debt ratio of 1.24. The company’s 50-day simple moving average is $2.33 and its 200-day simple moving average is $3.76.

Dixie Group (NASDAQ:DXYN – Get Rating) last released quarterly earnings data on Tuesday, May 10. The textile maker reported ($0.22) EPS for the quarter. The Dixie Group had a net margin of 0.08% and a return on equity of 2.67%. The company had revenue of $77.58 million in the quarter.

Separately, StockNews.com launched coverage on The Dixie Group in a report on Tuesday. They issued a “holding” rating on the stock.

About the Dixie Group (Get a rating)

The Dixie Group, Inc. manufactures, markets and sells flooring products to residential customers in North America and internationally. It offers residential rugs, custom rugs and engineered wood products under the Fabrica brand for interior decorators and designers, select furniture retailers and stores, luxury home builders and coach manufacturers. and luxury yachts; and specialty carpets and rugs for the high-end residential market, as well as luxury vinyl flooring products and broadloom carpet products under the Masland Residential brand through the interior design community and specialty flooring retailers.

Further reading



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AlSulaiman Group Leads $18M Round to Expand Omnichannel Solutions https://nordicmobler.com/alsulaiman-group-leads-18m-round-to-expand-omnichannel-solutions/ Thu, 16 Jun 2022 05:16:04 +0000 https://nordicmobler.com/alsulaiman-group-leads-18m-round-to-expand-omnichannel-solutions/

RIYADH – AlSulaiman Group (“ASG”) today announced its latest investment in Cartlow, the region’s leading reverse logistics solution.

The $18 million investment will support Cartlow on its journey and enable further expansion into Saudi Arabia and the United Arab Emirates.

Cartlow is a technology-based reverse logistics platform combining re-commerce, returns management, buy-back and exchange, warranty management, refurbishment and recycling to take full advantage of a end-to-end reverse logistics solution.

The Global Reverse Logistics Market was valued at USD 635 Billion in 2020 and is projected to grow to reach USD 958 Billion by 2028. The growth is supported by increasing contribution of e-commerce to sales channels and l accelerating technology product launch times, increasing demands on retailers to effectively manage their returns and take-back programs.

Since reverse logistics is considered one of the biggest operational challenges due to its volume, cost and skill requirements. Cartlow’s technology solution takes the burden off retailers and provides them with the programs needed to enable better recovery rates and healthy inventory.

Alsulaiman Group is active in omnichannel retail, services and retail real estate, represented by 5 companies serving Saudi Arabia and GCC countries: IKEA Saudi Arabia and Bahrain, Flow Progressive Logistics, Ehteraf Real Estate Development , a regional joint venture. with Livspace, in addition to a strategic investment in Salasa e-commerce Fulfillment. The investment in Cartlow will allow ASG to expand its Omni-Channel ecosystem by providing new and innovative solutions to leading retailers, all powered by Cartlow’s technology.

ASG has piloted initiatives such as the IKEA buy-back program to extend the life of used furniture in secondary markets. “Our investment in Cartlow further underlines our commitment to the Kingdom’s Vision 2030 sustainability goals by improving the circular economy and reducing waste in value chains,” commented Saud AlSulaiman – CEO of ASG.

Mohammad Sleiman, Founder and CEO of Cartlow, said, “The investment will help take Cartlow to the next level. Our goal is to continue to develop innovative technologies in the reverse logistics landscape across the region.”

In addition, recent global supply chain shortages, combined with rising shipping costs, have contributed to consumer goods inflation. This further highlights the need to extend the life of electronics through secondary markets. Cartlow’s unique re-commerce platform provides consumers and businesses with used, open box and refurbished products at great prices, while maintaining trust by providing assured quality control and warranty on items sold.

© Copyright 2022 The Saudi Gazette. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

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Pamplin Media Group – Places to visit this summer https://nordicmobler.com/pamplin-media-group-places-to-visit-this-summer/ Mon, 13 Jun 2022 21:55:47 +0000 https://nordicmobler.com/pamplin-media-group-places-to-visit-this-summer/

Looking for outdoor fun? Go visit one of these cool places in and around Portland

SELLWOOD-MORELAND – If you’re new to Portland, check out one of Portland’s hip neighborhoods where you can shop for your antique cravings. The area attracts many visitors to the antique malls and independent stores. According to www.travelportland.com, “Vintage vendors stock both mid-century treasures and flea market finds.” Plan a visit to the Stars Antiques Mall, home to nearly 200 dealers and open 7 days a week. R. Spencer Antiques offers furniture and fine antiques. For more information, go online (www.travelportland.com).

TOM MCCALL WATERFRONT PARK – The perfect place to read a book or have lunch on a hot summer day is this 36.59-acre attraction located in downtown Portland. Visit the Battleship Oregon Memorial and admire the Founder’s Stone, which honors the city’s founders, William Pettygrove and Asa Lovejoy. For those new to Portland, these two men tossed a coin back to determine if this Portland would be called Portland or Boston. The park also contains Salmon Street Springs, a fountain where young people frequently gather to escape Portland’s sometimes scorching heat. Go online for more information (www.portland.gov).

OAK BOTTOM

OAKS BOTTOM – For nature viewing, try the nature area of ​​Oaks Bottom Nature Preserve. It is located just north of the Sellwood Bridge at SE Seventh Ave. and Sellwood Boulevard, on the east bank of the Willamette River. Portland Parks and Recreation’s Oaks Bottom Refuge is a 163-acre complex containing grasslands, woodlands, and wetlands. Bike paths and hiking trails are available in the natural area. You may be lucky enough to spot a falcon, mallard or woodpecker. Find more information online (www.portland.gov/parks/oaks-bottom-wildlife-refuge).

PITTOCK MANOR

PITTOCK MANSION — Tour this historic mansion in Portland’s West Hills. The house is operated by the Pittock Mansion Society in conjunction with Portland Parks and Recreation. According to the society, “The mission of the Pittock Mansion Society is to inspire understanding and stewardship through Pittock Mansion, its collections, and its programs.” If you want to see sweeping views of the city skyline and surrounding neighborhoods from nearly a thousand feet above Portland, bring your cameras or recorders to the back of the house. Go online for more information (www.pittockmansion.org).

BLUE LAKE – A summer day wouldn’t be complete without a trip to a lake. And Fairview, Oregon has just the ticket, Blue Lake Regional Park. It is a natural lake fed by underground springs. Relax on a sunny day or take advantage of the spray field, discovery gardens, sports facilities and a wetland area with viewing platform and trail. The park also offers a gold-level disc golf course. Blue Lake Regional Park is open seven days a week. Hours from May 1 through September 14 are 8 a.m. to 8 p.m. From September 15 to October 31, the hours are from 8 a.m. to 6 p.m. For more information on this park, go online (www.oregonmetro.gov/metro-parks-et-espaces-naturels).

BLUE LAKE

BEAVERTON FARMERS MARKET – If you’re hungry for fresh produce and more, stop by this market, open every Saturday, April through November 19, 8:30 a.m. to 1:30 p.m. The market is located at 12375 SW Fifth Street. It offers community events, cooking demonstrations and food drives. On September 10, there will be a chef demo with core culinary mentor Sam Maggi. Music is played throughout the summer months, with performances by the Beaverton Community Band, Sandy Saunders, Mae Day, Barrio Mestizo and many more. For a full list of musical events, visit this summer online (www.beavertonfarmersmarket.com/).

LANGER’S — Once in Sherwood, visit Langer’s Entertainment Center, located at 21650 SW Langer Farms Parkway. Kids of all ages will enjoy the resort’s many attractions, including a purpose-built rock face after Smith Rock in central Oregon. Langer’s offers an arcade for kids of all ages, with over 50 racing, redemption and video games. Try your hand at basketball or play a fun game of Skee-Ball. Laser Tag comes with an overhead ropes course. Call 503-625-1800 or go online (www.langersfun.com/).

EASTBANK ESPLANADE – Newcomers to the area will get a taste of Portland’s beauty by visiting the Vera Katz Eastbank Esplanade, a bike and pedestrian path along the east bank of the Willamette River. The 1.5 mile stretch runs north from the Hawthorne Bridge, past the Morrison and Burnside Bridges, to the Steel Bridge. Named after a former mayor of Portland, the Esplanade offers stunning views of downtown Portland and provides a great location to soak up the summer sun. For more information, go online (www.portland.gov/parks).

OMSI – Science and technology enthusiasts will love the Museum of Science and Industry of Oregon. Located at 1945 SE Water Avenue, this famous museum features three auditoriums, a large screen, a planetarium, and exhibit halls. Take your family through the Natural Science Hall. A life laboratory, a paleontology laboratory and an earth laboratory are ready. Visit Turbine Hall, Space Science Hall and the Kendall Planetarium. Venture outside the museum to visit the USS Blueback, where you can learn to live underwater in a real submarine. OMSI was founded in 1955 and was once located next to the Washington Park Zoo. Find information online (www.omsi.edu/).

HOYT ARBORETUM – In scenic Washington Park, bring the family to the Hoyt Arboretum, known as a museum of living trees. According to their website, “Hoyt Arboretum is a living museum, historic landscape, outdoor laboratory, and organized forest – all in one park.” The arboretum is home to more than 2,300 species of trees from six continents. 20 km of hiking trails are available for those who want to enjoy nature on a beautiful summer day. The attraction is free and open all year round. Find more information online (www.hoytarboretum.org).

THE CAVE – If you want to relax, meditate, or simply enjoy the beauty of a sanctuary, visit the National Shrine of Our Sorrowful Mother, also known as The Grotto. It is an outdoor Catholic shrine located in northeast Portland. The Grotto has a gift shop and over 62 acres of beautiful gardens. The non-profit center welcomes 300,000 visitors of all faiths each year, including the Festival of Christmas Lights in December. The main entrance is located northeast of 85th Avenue and Sandy Boulevard. For more information, go online (www.thegrotto.org/).

WILD WOODS TRAIL

WILDWOOD TRAIL – Whether you’re new to hiking or a seasoned hiker, you’ll instantly fall in love with this trail in Portland Forest Park. It will be hard to believe that you are in a wooded environment in a metropolitan area that approximates 3 million people. Wildwood Trail is a 29.5 mile point-to-point hike and takes an average of 12 hours and 7 minutes. But no worries, you can also hike portions of the popular attraction. The trail is popular for bird watching, hiking, and trail running. Wildwood Trail is open year round. Dogs are welcome, but must be kept on a leash. Go online for more information (www.alltrails.com/).

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Petitions from local groups against the ban on book displays https://nordicmobler.com/petitions-from-local-groups-against-the-ban-on-book-displays/ Sat, 11 Jun 2022 18:30:00 +0000 https://nordicmobler.com/petitions-from-local-groups-against-the-ban-on-book-displays/

LAFAYETTE, La. (KLFY) – Following Library Director Danny Gillane’s recent decision to stop displaying books in the library, an organization called Lafayette Citizens Against Censorship created a petition for the books to be displayed.

“We think it’s a bad decision. We believe that the library should restore these displays,” said Lynette Mejía with Lafayette citizens against censorship. “We believe they are important in highlighting our marginalized groups in our community.”

She explains how the book exhibition is vital to the community. “If you don’t highlight different cultures and bring that to the public and bring that to people’s attention, and these books are just kind of sitting in the background where they are not easy to find, it makes it harder for people to find and harder for people to learn these things.

The library released the following statement: “To clarify the library’s recent decision regarding book displays, the library has not and is not removing any material from its collection that relates to parts of the population. The library also does not place items behind counters or locked doors. The library will not create book displays that target any part of the population – any part of the population. Book displays are the parts of the collection taken from shelves and placed on display cabinets around the library.

Mejía understands that books aren’t banned, but adds that displaying books in the library helps a lot. “Our librarians have done a great job with this, highlighting these books to all these marginalized communities. We all have our stories as a community, and we want them to continue doing their job; our community appreciates that, this which is proof of that value,” she said.

The organization wants to collect as many signatures as possible and present the petition at the next board meeting on June 20.

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A hotel group transforms its walls into a gallery for a local artist https://nordicmobler.com/a-hotel-group-transforms-its-walls-into-a-gallery-for-a-local-artist/ Fri, 10 Jun 2022 05:03:33 +0000 https://nordicmobler.com/a-hotel-group-transforms-its-walls-into-a-gallery-for-a-local-artist/

Sadie Clayton is well known for her copper works. She aims to channel the natural healing powers of copper to invigorate individuals, communities and the environment with every piece. Sadie explores cultural diversity in her work, hoping to bring like-minded souls together to create a sense of community and shared creativity.

Local hotel group BlackBrick partners with artists to give their work exposure in its luxury properties by turning its walls into galleries.

In a statement to the press, the group said it drew inspiration from its own team, in partnership with local furniture makers, to place art at the center of the décor.

“Murals and art play an important role in BlackBrick’s culture. These artistic elements capture parts of society and add meaning to public spaces,” said Boipelo Molwela, BlackBrick’s program curator.

“Since these works of art are so essential to improving the neighborhood, we decided to integrate this approach into our rooms. Art gives spaces a unique identity and allows us to start a conversation with our guests.

Boipelo added: “Each artist brings a unique perspective to our rooms, opening a dialogue around the experiences of South Africans and their place in the world. Not only have BlackBrick included unique artwork to create a sense of community among our guests, but we also pride ourselves on providing a platform to uplift young South African artists.

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What Kohl’s means to the Franchise Group – WWD https://nordicmobler.com/what-kohls-means-to-the-franchise-group-wwd/ Tue, 07 Jun 2022 21:52:55 +0000 https://nordicmobler.com/what-kohls-means-to-the-franchise-group-wwd/

The Franchise Group believes that having a diverse portfolio has served it well – and has been aggressive in its growth strategy.

Two years ago, TFG – the parent company of The Vitamin Shoppe – bought FFO Home, a regional retailer of furniture, appliances and mattresses, and renamed it American Freight. Three years ago, The Vitamin Shoppe was acquired. Other Franchise Group businesses include Pet Supplies Plus, Badcock Home Furniture & More, Buddy’s Home Furnishings and Sylvan Learning Centers.

Now, the publicly owned retailer based in Virginia Beach, Va., is pursuing the acquisition of Kohl’s Corp. Considering that Kohl’s is a department store without any franchises, a deal would certainly take TFG’s portfolio to a new level of diversification. On a combined basis, TFG operates over 3,000 stores, primarily in the United States, and mostly franchised or under concessionary agreements, although there are also company-operated stores.

Late Monday, Kohl’s and TFG announced that it had entered into a three-week exclusive negotiation period for TFG to acquire Kohl’s Corp. for $60 per share in cash, valuing Kohl’s at nearly $8 billion.

It’s like David taking on Goliath, considering The Franchise Group’s $3.26 billion annual volume and Kohl’s $19.4 billion. Still, there have been instances where smaller retail companies have bought into larger ones. The Tote filed for bankruptcy following the purchase of Lord & Taylor.

There’s also a question of funding — whether a deal with TFG would leave Kohl stuck in servicing a big debt. Remember what happened with the Neiman Marcus Group – it was saddled with some $300-400 million in annual interest payments to service debt from its acquisition. That, added to the pandemic, ultimately drove the luxury retailer out of business.

If Kohl’s-Franchise Group talks result in a definitive agreement, TFG intends to contribute approximately $1 billion in capital to the transaction, which is expected to be fully funded by a corresponding increase in the size of its secured credit facilities. . The Wall Street Journal reported that Oak Street Real Estate Capital will work with Franchise Group on financing.

Activist shareholders, particularly Macellum Advisors, have valued Kohl’s real estate at around $8 billion. Macellum pressured Kohl’s to sell some of his real estate and lease it out, in order to increase shareholder value, but Kohl’s rejected the idea.

During a conference call earlier this year, TFG President and CEO Brian R. Kahn answered a question regarding the potential acquisition of Kohl’s.

“I can’t tell you what we’re going to do in the future. But I can tell you that I think a lot about our M&A philosophy and the things that we look at from time to time,” Kahn said. “So first of all, we have a lot of belief in the brands that we operate now. And so we are confident that these brands that we operate will bring us significant organic growth over time and also generate enough free cash flow to support a healthy and growing dividend, as well as additional free cash flow that we can reinvest both internally and externally in mergers and acquisitions.. And we have no interest in jeopardizing that for any transaction. …we’re not going to mortgage the farm to do any transaction… We’re looking at everything that’s available and some things make sense, some don’t.

“Any size transaction should certainly be significantly accretive to FRG’s earnings per share and cash flow per share. And I think you can also imagine, wonderful as our lenders are, that we have capacity constraints on of capital and that large transactions should certainly be just positive for FRG. In my opinion, to bind us, money does not grow on trees,” he said.

“For us, management is always the key. I think you heard me talk earlier about the management of the companies we have. We have really investable management teams at Franchise Group…whether we are doing very small transactions or very large transactions, management will always be key to what we are looking for.

TFG said in its Monday statement that it remains committed to conservative financial policies, including target debt levels and maximizing free cash flow generation. “If a transaction closes, Franchise Group’s free cash flow, adjusted EBITDA and non-GAAP EPS are expected to increase significantly,” the company said. “The significant increase in free cash flow generation should support Franchise Group’s objective of increasing dividends and other capital returns to shareholders, while allowing Franchise Group to accelerate further organic and inorganic.”

Kohl’s and TFG have made it clear that a transaction is not assured. Other parties, including private equity firm Sycamore Partners, have made offers to buy Kohl’s.

“I don’t think Kohl’s and The Franchise Group are a good complement. The Franchise Group knows nothing about the fashion industry, even the banks will question it,” said veteran retail analyst Walter Loeb.

“The fit would be better with Sycamore,” observed Craig Johnson, president of Customer Growth Partners. “They have experience acquiring a bunch of struggling brands, like Talbots, and they’ve also bought Belk, which is still a good department store. Sycamore has experience in retail and especially in department stores, we believe they have a better chance of creating value from the acquisition.

“The three-week exclusivity will end quickly and I wouldn’t be surprised if Sycamore or a third party came back with another offer,” Johnson suggested. “If you’re a Kohl shareholder, you want to get the most for your shares.”

“It’s a headache,” added Allan Ellinger, founder and senior managing partner of MMG Advisors. “He’s a franchise operator. What does he know about department stores and how would they finance a transaction? I don’t understand what their strategy is. It would be a very big gulp for them. If you’re going to change your strategy and walk away of your basic skills, make a small bite out of it.

Retail analysts agree that Kohl’s has been in need of a fix for some time and has done a lot to up its game, such as the arrival of Sephora as well as a slew of deals-focused national brands. active and relaxed. But changes need time to kick in and so far Kohl’s hasn’t shown signs of improvement. Instead, the Menomonee Falls, Wis.-based retailer underperformed its retail industry peers. And some shareholders are getting impatient.

“Kohl’s hasn’t had the rebound seen in other department stores,” Johnson said. “Macy’s and Nordstrom have been better at matching capacity to demand,” thanks to a significant number of store closures.

“I suspect the acquirer, whether it’s The Franchise Group, Sycamore or another company, would consider reducing the number of Kohl stores,” from the current fleet of around 1,100. “But you don’t want to cut too deeply. One of the advantages of Kohl’s are its locations. They’re closer to where people live and work,” Johnson said.

“I would say a deal is not absolutely necessary, but something has to be done to improve Kohl’s performance.”

The renovated unit of The Vitamin Shoppe in Edgewater, NJ

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Criminal group making major purchases with stolen credit cards in the South: FBI https://nordicmobler.com/criminal-group-making-major-purchases-with-stolen-credit-cards-in-the-south-fbi/ Mon, 06 Jun 2022 19:16:36 +0000 https://nordicmobler.com/criminal-group-making-major-purchases-with-stolen-credit-cards-in-the-south-fbi/

SPARTANBURG, SC (WSPA) — A criminal group operating in the South makes large purchases with stolen credit cards, then hires unsuspecting people online to transport the goods, according to the FBI’s Charlotte Division.

So far this year, the group has used stolen credit cards to make purchases at more than 100 businesses in North Carolina, South Carolina, Virginia, Georgia, Alabama, Florida, West Virginia and Kentucky, said Shelley Lynch, public affairs specialist at the FBI. Charlotte division.

“The main red flag is that they call on the phone and just give a credit card number. So since companies don’t see these people in person and they can’t verify that this credit card belongs to this person by checking that ID,” she said.

Under the scheme, tire stores, furniture stores, lumber companies, trailer companies and appliance stores were defrauded of hundreds of thousands of dollars, she said.

“They post job boards online and hire people to go to those companies, pick up those large purchases, sometimes transfer them to other states, and then pay them with a cash app. And the people driving and picking up these items don’t even know they picked up items that weren’t paid for properly and legally,” she said.

Before the credit card transaction is flagged as fraudulent, the group pays someone to collect it and take it to another state to resell it, she said.

Days later, the victimized businesses learn that the sales were fraudulent, she said.

“In each case, we believe the same group of criminals are using stolen credit cards. They phone different types of businesses that usually sell as bulky items. So high priced items. And they’ll make a major purchase and then hire someone to pick up that purchase before the companies realize the credit card numbers have been stolen,” Lynch said.

Thieves hire people to transport stolen goods across state lines with large utility trailers and trucks.

In addition to targeted businesses, individuals who have their credit card numbers stolen see large purchases on their bills. Typically, they can work with their own credit card company to reverse this trend, she said.

Another red flag, according to Lynch, is if someone tries to hire you for a transportation job that sounds too good to be true or weird. It could be the criminal group, she said.

“Some of the things that are kinda weird about [the transportation] jobs, job offer [posted by thives] specifically, is that they are asking these people to go and rent a box truck so they can pick up a big shipment of items,” she said. “They’re asking them in some cases to use their own vehicles, and so that’s another kind of red flag that it doesn’t seem like it’s necessarily legitimate work.”

What we’re trying to do is warn companies about this program because at this point we’ve already seen it over a hundred times in eight states in just a few months, she said. declared.

The FBI Charlotte is working with several local law enforcement agencies on the investigation. Companies with similar unsolved crimes should call the FBI Charlotte at 704-672-6100 or file an online complaint at tips.fbi.gov.

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