Corporate Governance

Williams-Sonoma is throwing its hat into the 3D app ring.   Later this month, the chain’s Pottery Barn banner will introduce 3D Room View. The augmented reality mobile app, which is based on Google’s AR technology Tango, enables shoppers using Tango-enabled smartphones to “virtually” place Pottery Barn merchandise in any of their rooms. The goal: to enable shoppers to see how products look and fit with their existing furniture and decor — or in an empty room.   

Home Depot disclosed an ongoing Environmental Protection Agency investigation into its lead safety practices related to its installation services business.   In an SEC filing published on Thursday, Home Depot disclosed an investigation by the EPA's criminal investigation division into its compliance with lead-safe work practices. Home Depot is currently cooperating with the EPA, having previously responded to civil document requests from several EPA regions.  

Payless could be the newest retailer headed toward bankruptcy.   The struggling retailer could file for bankruptcy as soon as next week. In the meantime, Payless is already making plans to reorganize operations by shuttering stores, according to Bloomberg.   

A combination of sluggish mall traffic, a shaky sporting goods industry, and poorly performing merchandise took a toll on The Finish Line in the fourth quarter and fiscal 2016.  

Highly promotional activity and increased multichannel initiatives not only helped Shoe Carnival hit its expectations, but exceed $1 billion in net sales for the year.   For the quarter ended January 28, 2017, the retailer’s net sales were $234.2 million, a 0.2% increase, compared to net sales of $233.7 million for the fourth quarter of fiscal 2015. While it was in line with its goals, this was just shy of Wall Street’s prediction for sales of $235 million.  

Despite dire statements made on a recent SEC filing, Sears and Kmart stores will remain as fixtures on the retail landscape for some time to come, according to retail real estate experts contacted by Chain Store Age.   “The news was not news,” said REIT analyst Alexander Goldfarb of Sandler O’Neill + Partners about a Sears filing that questioned its own future as a “going concern.”  

Lord & Taylor is looking to engage shoppers with a new luxe concept dedicated entirely to one of its core categories: dresses.   The retailer has transformed the fifth floor of its Manhattan flagship into a dedicated space for dress shopping for all occasions. Spanning over 30,000 sq. ft., the updated space includes a rotating pop-up shop that launches with one-of-a-kind vintage designer dresses, a concierge service, and The Gallery, a dedicated area for designer dresses.  

In the wake of mounting losses and increasing doubts about its viability, Sears Holding Corp. is facing pull back from some of its vendors.   That is according to a report by Reuters, which said that suppliers to Sears are becoming more defensive to protect themselves from the risk of nonpayment by doing such things as reducing shipments and asking for better payment terms.  

Whole Foods Market has opened its second largest location in Chicagoland.     The supermarket retailer has opened a 76,000-sq.-ft. store in the city’s Lakeview area. It replaces an older Whole Foods across the street. The older store, which opened in 1996, closed the day the new store opened.   

Five Below Inc. reported its 11th consecutive quarter of positive same-store sales results amid bullish growth plans for the current year.   The value retailer, which targets tweens and teens with a wide array of goods all priced at $5 or below, said it will open 100 stores in 2017, including its first ever locations in the state of California. The chain opened 85 net new stores in 2016.