Corporate Governance

Online giant extending brick-and-mortar footprint.   Amazon is taking its bookstore concept to the San Francisco Bay Area, which has a reputation for supporting independent bookstores.    The company will open a bookstore at Broadway Plaza, an open-air center in Walnut Creek, California, reported the San Francisco Gate.  Although no opening date was given, but Amazon is in the process of staffing up the store.   

An Indianapolis-based appliance and electronics chain is bringing in outside help as it struggles with sinking sales.    Hhgregg announced that it has engaged subsidiaries of Stifel Financial Corp. for advice on potential strategic and financial transactions as the retailer works to improve liquidity and return to profitability.  

Ralph Lauren Corporation has created two executive positions as the company continues its turnaround efforts and to search for a new chief executive.   Ralph Lauren tapped Jonathan Bottomley to the newly created position of chief marketing officer, effective April 3. He will be responsible for evolving Ralph Lauren’s brand voice, leading the global marketing team and building cut-through marketing strategies across the company’s brands.  

IBM is taking the next step in its IoT journey.   The technology provider has opened the doors of its new $200 million global headquarters for its Watson Internet of Things (IoT) business in Munich, Germany. The space will also serve as an innovation space for the European IoT standards organization, EEBus.   "We have reached a tipping point with IoT innovation,” said Harriet Green, general manager, IBM Watson IoT, cognitive engagement and education.   

Gainesville retail pioneer Butler Enterprises announced the signing of P.F. Chang’s as a restaurant anchor at its Butler Town Center, now under development.   "It's an excellent fit for P.F. Chang's and we're really looking forward to sharing our farm-to-wok food philosophy with the entire Gainesville community," said P.F. Chang’s CMO Dwayne Chambers.  

Walgreens Boots Alliance is losing its chief merchandising and marketing officer.   Linda Filler, Walgreens' president of retail products and chief merchandising and marketing officer, will depart the retailer effective April 1. Filler has been in the role since January 1, 2015. Prior to joining the drug store chain, she was president of Claire’s Stores. Before Claire’s, Filler served as was executive VP and chief merchandising officer for Sam’s Club,   

The CEOs of Gap, Best Buy, Target Corp., J.C. Penney and several other national retailers met with President Trump on Wednesday to discuss tax reform and to make their case against the so-called border tax adjustment.  

Nordstrom announced the second Big Apple location for its off-price division.   Nordstrom Rack will open at Durst Organization's mixed-use building at 855 Sixth Avenue.    The approximately 46,500-sq.-ft. store is scheduled to open in fall 2017. It occupy the first three floors of the newly constructed office/residential tower. The location is on the corner of 31st Street, two blocks from Herald Square.  

The formerly high-flying Nasty Gal has been brought down to earth — and not in a good way.   The bankrupt fashion retailer will close its two Los Angeles-area stores by the end of February, the Wall Street Journal reported.    On Feb. 8, U.S. Bankruptcy Court for the Central District of California approved the sale of Nasty Gal’s intellectual property and customer database to British online fashion retailer Boohoo.com, which is seeking to speed up its expansion in the United States. 

Lidl is coming out of the starting gate in the United States earlier than expected — and it isn’t going to waste any time ramping up its store base.   The discount grocer will open its first U.S. stores this summer, with plans to open up to 100 locations across the East Coast within a year, the Associated Press reported. The chain initially had said it planned to enter the U.S. market no later than 2018.