Strategy

Bloomfield Hills, Mich.-based Taubman Centers, Inc. has officially broken ground on its new Taubman Prestige Outlets Chesterfield project by hosting a groundbreaking ceremony on July 27.

As part of the ceremony, Taubman revealed a variety of store names that will make their debuts at the new outlet mall, among them Banana Republic Factory Store, Gap Outlet, J. Crew Factory, Brooks Brothers Factory Store, 2b Bebe, American Eagle Outfitters - Off Campus, and Sunglass Hut.

PITTSBURGH — GNC recently extended its relationship with Sam's Club, the company announced in conjunction with its second-quarter results.

Beginning in third quarter 2012, GNC's presence in all Sam's Club locations will incorporate established shelf space with branded signage, adding to the existing rotational assortment program.

Walmart is used to encountering opposition to its new stores, just not in its own backyard.

However, that is what’s been happening in the sprawling master planned community of Bella Vista, Ark., where residents, some of them anyway, are up in arms over a planned Walmart Neighborhood Market. They say the location of the proposed stores is a poor choice and the 24-hour store with four gas pumps will bring additional traffic to an already busy road.

Shoppers aren’t stupid. With momentum gathering around e-fairness, it’s only a matter of time before the online giant is required to collect sales tax. And when shoppers get wind of the looming change, watch out!

Amazon.com’s sales will surge in the quarter before the e-fairness legislation kicks in and the retailer is required to collect sales tax on behalf of jurisdictions nationwide. It will mark the end of a golden era for shoppers who will rush to make purchases, especially big ticket items, in advance of the legislation’s effective date.

An “exclusive” report from Reuters this week suggests U.S. authorities are poised to put the retail industry under the microscope as a result of Walmart’s bribery scandal in Mexico.

MONTREAL — Toy manufacturer Mega Brands reported that net sales in the second quarter increased 13% to $94.5 million compared with $83.9 million in the corresponding 2011 period.

Toy sales increased 14% compared to the second quarter of 2011, driven by higher product shipments in the preschool and boys construction categories. Toy sales have increased year-over-year in ten of the last 11 quarters.

Sales of stationery and ctivities products were up 10%, the fifth consecutive quarter of year-over-year growth in this segment.

HAMILTON, BERMUDA — Specialty retail jeweler, Signet Jewelers, has named a Procter & Gamble executive to its board of directors.

Virginia Drosos, group president global beauty, skin, cosmetics and personal care for Procter & Gamble, who will retire from this position effective Sept. 1, joined the Signet board on July 25.

Despite a stagnant economy and drought conditions across large parts of the country, Brentwood, Tenn.-based Tractor Supply Co. reported sales and earnings growth.

The company posted second-quarter sales of $1.29 billion, up 9.6% from $1.18 billion in the same quarter last year.

The nation’s largest chain of farm and ranch specialty stores posted earnings of $106.6 million, up 8.3% from $91.2 million in the year-ago period.

Profits at Amazon.com declined 96% to $7 million, or a penny a share, even though sales advanced 29% to $12.8 billion.

The ongoing build out of Amazon.com’s supply chain infrastructure hurt the company’s overall profitability, but positioned the company to deliver an even better shopper experience in the future. Amazon.com expects to open approximately 18 new warehouses this year.

Manhattan Associates announced a CEO succession plan in conjunction with strong second quarter results that saw the provider of supply chain optimization services increase its full year profit forecast.