Corporate Governance

Walmart is looking to expand its logistics capabilities.   The discounter  recently submitted plans to city planners In Bentonville, Ark,  for a 1.27 million-sq.-ft. distribution center, according to a report by Talk Business & Politics-Northwest Arkansas Business Journal.  

Michael J. Powers, a leasing veteran and principal in a progressive hair salon concept, has been promoted to senior VP and head of leasing at Starwood Retail Partners.   Prior to joining Starwood as VP of leasing in 2013, Powers helped found Salonspace, a concept that seeks to provide hair stylists with a workplace environment they can approach on their own terms. He is a leasing veteran of Simon Property Group, Steiner + Associates, and Glimcher Realty Trust.  

Dollar General is set to grow its already considerable footprint through an acquisition.   The discounter will acquire all 323 stores from Dollar Express, according to the Charlotte Observer.    

Ralph Lauren Corp. is shaking things up—and cutting costs.   The company, which has been struggling with weak sales,  on Tuesday said it would reduce corporate staff, close its Polo flagship on Manhattan’s Fifth Avenue, and move its online platform to Salesforce’s CommerceCloud solution.    

Canadian discounter Dollarama is upping its store growth plans—and by a considerable number.   The chain, which operates some 1,000 stores across Canada, has revised its long-term target from 1,400 locations to 1,700.   “This provides Dollarama with several years of additional footprint growth,” stated Neil Rossy, president and CEO, Dollarama, which sells a variety of merchandise at fixed price points up to C$4.00.   

Is Staples looking to go private?   Less than a year after its deal to acquire Office Depot Inc. fell through due to antitrust concerns, Staples is in early discussions with private-equity bidders, according to The Wall Street Journal.   Staples had no comment on the report, which said that based on typical takeover premiums, the office supply chain could be valued at roughly $7 billion or more. But the news sent its stock soaring to a four-year high on Tuesday morning   

Forman Mills is on a growth spurt — now it needs its point-of-sale (POS) to grow with it.   The off-price retailer has grown from a single store to a 36-store chain of “big box” warehouse-style stores across multiple states. As the retailer enters its next stage of expansion in connection with a recent investment from New York-based Goode Partners LLC, Forman Mills needed a front end solution that could support its growth, and drive more efficient checkout processes.  

Petco has acquired a digital pet services company and, in so doing, got itself an experienced tech entrepreneur to drive its digital initiatives.    Petco has purchased PetCoach, a pet advice web site and app that helps pet owners take better care of their pets, connecting them with veterinarians for personalized answers to their questions. Terms of the deal were not disclosed.     

A former executive at Sears Holdings Corp. has has been named president and CEO of Pier I Imports.     Alasdair James, 46, will take the reins of the home décor chain on May 1, 2017. He replaces Alex Smith, who was ousted from the company at the end of last year amid slumping sales.   

As German discount giant Lidl prepares to enter the U.S. market, Save-A-Lot is bringing in a new chief executive officer whose resume includes a 13-year stint at the European chain.      The discount supermarket chain has appointed Kenneth McGrath as CEO, effective April 21, 2017. He succeeds Eric Claus, whose departure was described as a “mutually agreed” parting of the ways.