Finance & Capital Management

Senior management of Walmart Stores Inc. should be happy with the results of its 46th annual shareholders meeting held June 3.
 

Photo: Dollar General executives and local leaders cut the ribbon to celebrate the grand opening celebration of the company's new San Antonio Distribution Center. (L to R, Steve Sunderland; Wayne Peacock, Chairman, San Antonio Economic Development Foundation; Bexar County Judge, Nelson Wolff; Mike Kindy; Mario Tort; Todd Vasos, Dollar General CEO; Jeff Owen; Alan Warrick, San Antonio City Council; Jeff Owen; Bob Ravener; Jim Thorpe)

Hudson’s Bay Co. (HBC) shareholders have spoken.
 
In good news for the Canada-based department store operator, all of the nominees listed in its management information circular dated April 28, 2016 were elected as directors of HBC at the annual meeting of shareholders held Monday, June 6 in Toronto.
 
The newly-elected directors are:

· Richard A. Baker
· Robert C. Baker
· David G. Leith
· William L. Mack
· Lee Neibart
· Denise Pickett

The term “post-department store era” was once considered so controversial that many in the retail world avoided using it, fearing backlash from powerful industry giants like Macy’s and Sears. Some saw the very idea of department store obsolescence as pure folly while others saw it only as a vague possibility too far in the future to consider.
 

JLL has broadened its project and development services (PDS) with the acquisition of Merritt & Harris (M&H), a leading provider of construction-related consulting services for real estate lenders and investors during new construction, renovations and workouts.
 

Retailers looking for global opportunities in emerging markets should head to Asia, particularly China, according to a just-released survey.   

China ranks as the top country in A.T. Kearney’s 2016 Global Retail Development Index (GRDI), followed by India, whose high market potential, fast growth, improved regulatory environment, and ease of doing business pulled it up to second in the rankings. (See end of article for top 30 rankings.)

Walmart is teaming up with a few third-party partners — including two names very familiar to consumers — to take on its biggest rival in the competitive in the area of online delivery.  

While online retailers generally understand that fraud can significantly cut into profits, they may not be aware of its full cost — or the different ways it can impact a business.    A new infographic from fraud and risk management technology provider Kount drives home the boomerang impact fraud has on e-commerce. Called “The 10 Deadly Costs of Fraud” for e-commerce retailers, here is a brief summary of its findings:   

Meijer has expanded its store footprint in Michigan, opening a new 192,000-sq.-ft. supercenter in Sturgis.
 
The new store is the latest of nine new Meijer supercenters to open – and part of an investment of more than $400 million in new and remodeled stores – this year, which will create 3,000 new jobs across the Grand Rapids, Michigan-based retailer's six-state footprint.

Specialty retailer Five Below Inc. beat Wall Street projections for earnings and same-store sales in a hot first quarter of fiscal 2016.

Net income was $6.8 million, up 58% from $4.3 million the same quarter a year earlier. Higher gross profit and lower expenses boosted profit. Net sales rose 25% to $192.7 million, from $153.7 million. And the company reported same-store sales growth of 4.9%.