Corporate Governance

A majority of companies, including retailers, are confident about cyber-security, but their confidence may not be justified.      That’s according to “Cyber Risk in Consumer Business,” a report from Deloitte. The report is based on input from more than 400 CIOs, CISOs, CTOs and other senior executives.   

Staples is close to returning to private ownership.   Private equity firm Sycamore Partners is in advanced talks to acquire Staples, according to numerous media reports. The deal could top $6 billion, reported Reuters, which said Sycamore is in the process of finalizing a debt financing deal with Staples. Sycamore repeatedly beat out Cerberus Capital Management in an auction.  

Dollar General has tapped a fast-casual restaurant executive to lead its technology and fledgling online operations.    Dollar General Corp. announced that Carman Wenkoff will join the company as executive VP and CIO, effective July 10. He replaces current CIO Ryan Boone, who recently announced his retirement.   

The recent announcement that Amazon intends to purchase Whole Foods Market has the retail and grocery store industry reeling as traditional grocers assess the near and long-term impact that the online giant’s much larger position in the marketplace may have. And with good reason. Amazon is the classic “disruptor” and has changed the face of every industry it touches. But aside from the competitive aspects, this move potentially has significant political and policy impacts as well.   

Walmart is asking its technology suppliers to pick sides in its retailing war with Amazon.   The retailing giant reportedly warned some tech companies that if they want its business, they can't run applications on Amazon’s cloud platform, Amazon Web Services. Walmart currently partners with tech suppliers that already leverage cloud apps running on AWS, although the retailer didn’t reveal which applications or how many they use, sources told the Wall Street Journal.  

A computer glitch is blamed for canceled orders and growing frustrations among Tesco’s home delivery customers.   An IT meltdown impacted orders filtering into the U.K.-based supermarket giant’s online grocery shopping system. The glitch impacted orders being placed online, as well as those scheduled for delivery, according to customer posts on Twitter.  

The first enclosed mall on Massachusetts South Shore will undergo a $40 million conversion to an open-air center under the ownership of a spun-off unit of Phillips Edison & Company.   The 732,000-sq.-ft. Hanover Mall in Pembroke Massachusetts — anchored by Macy’s, Sears, and Walmart — was purchased last fall by PECO Real Estate Partners, which operates under the name PREP. Built in 1971 and last renovated in 2004, the center has direct access to Route 3, the major thoroughfare joining towns south of Boston.

Sears Canada could file for Chapter 11 sooner than expected.   The struggling offshoot of Sears Holdings Corp., is preparing to seek court protection against its creditors. The filing — which could happen within weeks — will likely lead to a liquidation, with the business sold off in pieces, sources told Bloomberg.  

As Amazon continues to ready its cashierless convenience store concept for the public, the company has lost one of the project’s technology leaders.