Corporate Governance

The parent company of Famous Footwear is expanding its men's and international operations.    Caleres has tapped Malcolm Robinson as president of the company’s new men’s and international division. He will oversee the strategic growth initiatives for the Caleres men’s brands, as well as expand an international footprint across the company’s portfolio.  

Proposed reforms to the nation's tax code would hurt smaller retailers more than larger ones.   The National Retail Federation said smaller retailers and their employees would suffer more than large companies under a proposal to create a border adjustment tax that would drive up the price of imported merchandise.  

A wholesale club giant beats out specialty retailers to rank as the nation's favorite home furnishings retailer.    Costco Wholesale Corp. is ranks first among consumers when it comes to home furnishings, according to a study by Market Force Information. With a composite loyalty score of 72%, Costco earned the top spot. But Ikea was a close second, with a score of 70%.    

When Chain Store Age embarked on a search for the Top 10 Retail Experiences in the nation, it was hard for us to look past a 5-million-sq.-ft. mall in Minnesota with a roller coaster and a comedy club, as well as an Apple Store and a Hard Rock Café.   It should come as little surprise, then, to see Mall of America occupying the No. 1 spot in our Top 10 countdown that culminates today.  

The beginning of summer didn't give a boost to consumer spending as retail sales fell for the second straight month.   Retail sales unexpectedly slipped 0.1% in June after being unchanged in May. Sales were up 3.2% unadjusted from June 2016, according to the National Retail Federation, and 3.9% on a three-month moving average year-over-year. (The numbers exclude automobiles, gasoline stations and restaurants.)   

The Museum of Modern Art (MoMA) Design Store continues to expand its footprint with the opening of a store in Kyoto, Japan.   The 1,076-sq.-ft. space offers an edited version of MoMA’s signature selection of tabletop, workspace and personal accessories, lighting and tech products, art reproductions and stationery. It also features items designed and produced in Japan.  

Visa Inc. is doing its best to usher in the cashless future.    The credit card giant has announced a new initiative, called the Visa Cashless Challenge, which will incentivize small merchants to move away from cash payments. Using an application-based format, Visa will award approximately $10,000 each to 50 eligible U.S.-based small business food service owners, including food truck owners.  

When it comes to energy-efficient refrigeration systems, Sprouts Farmers Market is on the leading edge of technology.    Hillphoenix said it has installed the first CO2 Booster System with ejector technology in North America at Sprouts' store in Woodstock, Georgia. The supplier is the first manufacturer in North America to introduce the technology as developed by Danfoss in the marketplace.  

Adidas has upped its game with a store that celebrates the heritage and vibe of its Venice Beach, California, locale.     The company has opened a 5,900-sq.-ft. store on Abbot Kinney Blvd., Venice Beach, dedicated to its Originals brand. The store combines such classic lines as Stan Smith with new ones such as NMD. The space will also house immersive events and installations on a regular basis in order to encourage localized experiences, create community among streetwear lovers and connect with local culture enthusiasts.

A luxury department store retailer has lost its first-ever cyber security chief.   Sarah Hendrickson has left her post as Neiman Marcus’ chief security information officer, reported D Margazine. She joined the company in November 2014, the first executive to hold the position. Neiman Marcus introduced the role following its high profile data breach in 2013.