Corporate Governance

Companies that suffer a data breach are subject to customer, opportunity and revenue losses well exceeding 20%.   This was according to the “2017 Annual Cybersecurity Report (ACR),” from Cisco, which surveyed nearly 3,000 chief security officers (CSOs) and security operations leaders from 13 countries in the “Security Capabilities Benchmark Study,” part of the ACR.  

Walmart has added another online asset to its battle against Amazon.   The chain announced it has acquired Moosejaw, an outdoor retailer know for its social media marketing expertise and strong online following among younger consumers, for approximately $51 million.    The acquisition, which closed on Feb. 13, is Walmart’s second acquisition in less than two months. In late December, the chain’s Jet.com unit acquired online footwear retailer ShoeBuy.    

Burlington has been announced as the replacement for Sears at PREIT’s Magnolia Mall in Florence, South Carolina. Earlier this month, Dick’s Sporting Goods and Von Maur were introduced as new tenants of Sears spaces that had been recaptured by the Philadelphia-based developer.  

RCS Real Estate Advisors will receive a Turnaround Award from M&A Advisor later this month for its work in the reorganization of Pacific Sunwear.  

Online marketplace retailer Etsy.com is looking to expand its base of sellers by entering the estimated $40 to $44 billion craft supplies market, which is dominated by such retailers as Michael’s and Jo-Ann’s Stores.    In its largest expansion to date, Etsy announced it will launch Etsy Studio, which will sell craft supplies and offer DIY tutorials, in April. It is the first new marketplace Etsy has built from the ground up since it debuted in 2011.     

Love’s Travel Stops & Country Stores is getting its stores on the same page.   The convenience and fuel chain, which operates more than 400 locations in 40 states, employs more than 17,000 people. By adding Reflexis Workforce Manager, it will have a consistent way to manage its budgeting, forecasting, and labor scheduling across the enterprise.   

Mattress Firm has tapped a veteran energy marketing executive to head up its marketing efforts.    The company has appointed Sicily Dickenson as its chief marketing officer. Dickenson brings more than 13 years of experience in digital marketing, marketing communications, creative services and brand marketing.    

Caleres has made two executive appointment in its Famous Footwear division.   The company named Karlyn Mattson as chief merchandising officer, leading Famous Footwear’s buying, merchandising, planning, allocation and analytic functions.     Mattson joins Caleres from a 25-year career at Target Corp., where she was most recently VP merchandise manager of shoes, accessories and intimate Apparel for retail and online. She held leadership positions at May Company and Macy’s.  

Columbia Sportswear’s prAna brand has become the industry’s latest cyber-breach victims.   When the lifestyle brand’s e-commerce site was targeted last week, the incident lead Columbia to “immediately launch an investigation and engage a leading third-party cyber security firm to assist us,” Columbia’s CEO Timothy Boyle said on the company’s Q4 2016 earnings call on Feb. 9. “Protecting our customers' information is one of our top priorities and we are taking this very seriously.”

Despite an earlier report to the contrary, Walmart is not combining its online and store buying functions.   Reuters had reported that the discounter was combining its online and store buying operations as it moves to make itself more competitive with Amazon. The report was picked up by numerous media outlets.   Based on information from Walmart, however, the chain is not merging the stores and walmart.com buying teams. The two will continue to operate as two separate teams.