Corporate Governance

Nike has brought its experiential retail format to Miami Beach. The company has opened a two-story, digitally connected, 31,000-sq.-ft. store on Lincoln Road, in the heart of Miami Beach.   Similar to Nike’s new store in Manhattan’s SoHo, the Miami location is designed to deliver the best of Nike products and personalized, immersive experiences services through a series of unique spaces. These include zones dedicated to running, soccer and basketball where consumers can try out the brand’s latest products.

Specialty retailer Bow & Drape is putting a new spin on how it sells its cheeky merchandise.   The brand, which lets shoppers customize pun-inspired apparel, is rolling out sample sales on Instagram, Glossy said.   

Declining mall traffic is taking a toll on Perfumania.   Perfumania Holdings Inc. has hired advisers to explore strategic alternatives, including a debt restructuring, Reuters reported. It also plans to negotiate with landlords to exit some of its 313 Perfumania stores.   The company recorded debt of approximately $164 million on Oct. 29 and $2.1 million in cash and cash equivalents, the report said.  

The Wendy’s Co. is bullish on expansion.   The chain wants to add approximately 1,000 locations by 2020, reported Nation’s Restaurant News.    

The $500 million sale of online diamond and jewelry retailer Blue Nile has been completed.   The company was acquired by an investor group comprised of Bain Capital Private Equity, Bow Street and Adama Partners for $40.75 per share in cash. The transaction, first announced on Nov. 7, 2016, was approved by shareholders on Feb.2, 2017.  

It’s closing time for MC Sports.   The chain, which filed for Chapter 11 bankruptcy protection on Feb. 14, is closing all 66 of its stores across the Midwest. A joint venture between Tiger Capital Group and Great American Group is conducting the going-out-of-business sales, which are now underway.  

Thomas “TJ” Drought, who spent nearly 20 years in the employ of WP Glimcher, has joined Steiner + Associates as an executive VP.  

An inconsistent U.S. marketplace and the sale of one of its business units contributed to lower fourth quarter sales for VF Corp.   The company, whose brands include The North Face and Timberland, reported that its net sales fell 0.1% to of $3.2 billion, for the quarter ended Dec. 31, 2016.    Total revenue came in at $3.3 billion, down 0.2%.  

A new company is interested in The Limited.   Sunrise Brands LLC has bid for the bankrupt apparel retailer’s e-commerce business and intellectual property, a move that challenges a $26.3 million offer from private equity firm Sycamore Partners, Reuters said.   

The National Retail Federation has high expectations for the nation’s next secretary of labor.   On the heels of Alexander Acosta’s nomination to head the federal Department of Labor on Thursday, Feb. 16, the retail trade association’s senior VP for government relations David French released the following statement: