Corporate Governance

TJX Cos. bucks retail’s store closure trend
As a number of traditional chains across the industry continue to struggle, TJX Cos. is being called one of the country’s fastest growing retailers. Traditional retailers industry-wide are blaming shifting consumer tastes, digital options and new competitors for not only stealing their wallet share, but for declining foot traffic and related sales. However, this could not be farther from the truth for TJX Cos.
J.Crew clinched lenders’ consent to amend loan
J. Crew just bought itself some more time with its lenders. Lenders holding approximately 88% of the outstanding principal amount of loans under J. Crew’s term loan agreement have approved a term amendment. The amendment, initially proposed in mid-June, was offering to exchange its $566.6 million of outstanding pay-in-kind notes due 2019. The notes were issued by Chinos Intermediate Holdings, an indirect parent to J.Crew.

CEO of specialty grocer resigns

The Fresh Market's chief executive has resigned after less than two years on the job. The Fresh Market announced that Rick Anicetti has resigned as CEO and board member. No reason was given for his departure. Anicetti took the reins of the specialty grocer in September 2015, bringing more than 30 years of experience across a variety of retail functions at Hannaford Brothers Company and Food Lion, where he served as president and CEO.
Personalized gifts retailer makes leadership changes in wake of CEO departure

There have been a couple of changes in the C-suite at Things Remembered.
Regional grocer improves workforce efficiencies

Lowe’s Foods is taking steps to increase efficiency across its workforce. The grocer is adopting enterprise labor planning and workforce management solutions from Logile across the chain’s nearly 100 stores operating in the Carolinas and Virginia. The solutions will help the grocer generate more accurate sales and labor forecasts, and improve scheduling at the task level across all store departments.
Toys 'R' Us exec trades toys for tires

A former executive at Toys "R" Us has joined the executive team of Bridgestone Americas. Bridgestone named Joe Venezia as president of Bridgestone Retail Operations, effective June 19, 2017. He most recently served as executive VP of global store operations at Toys "R" Us. Venezia joined the toy retailer in 2014 as senior VP, store operations. Prior to Toys "R" Us, Venezia was senior VP of operations and head of stores for convenience-store chain The Pantry.
Whole Foods Markets CEO expects Amazon deal to evolve the brand

The ink is barely dry on Amazon’s acquisition of Whole Foods Markets, yet the natural grocer’s CEO implied that “big ideas” are already in the works.
Wireless carrier expanding its store network in California

Sprint continues to expand its presence and investment in Southern California. The company plans to add more than 550 new jobs and 78 new retail locations throughout the Southland by the end of 2017. The new jobs will include a combination of retail, operations and technical experts. Currently, Sprint operates more than 300 branded retail locations throughout the Southern California region.
KPMG to build facility at Lake Nona

The nation’s fastest-growing planned community keeps speeding along. The Tavistock development, which already has 12,000 permanent residents, will add another thousand visitors a week thanks to a KPMG training facility that broke ground this week. In addition, the $400 million facility will house an employee staff of 330.
Food co-op leads new Bloomington center

Green Top Grocery has opened and will anchor The Foundry, a center situated on a boundary between manufacturing and residential neighborhoods in Bloomington, Minnesota. Green Top could represent the burgeoning of a new player in the fresh and organic grocery segment in shopping centers: the local cooperative. Owned by 1,500-plus local residents, the Green Top co-op attempts to source products from farmers and vendors within a 100-mile radius of Bloomington.
Target extends its investment in online retail disruptor

Fast-growing mattress retailer Casper has closed on a new round of funding — with help from Target Corp.
Amazon Rocks Food Retail: Four things the industry needs to do

Amazon’s acquisition of Whole Foods Market is sending shock waves through the world of grocery retail. This striking move introduces more disruption into the grocery wars. As the c-suites form their war rooms and build their responses, the industry faces an array of significant challenges. 1. Food retailers must think bigger and faster