Corporate Governance

Consumer electronics and furniture retailer Conn’s has named a COO, along with heads for logistics and service. The retailer named Coleman R. (“CR”) Gaines as president and COO, effective February 1, 2017. Gaines previously spent seven years at TMX Finance in Savannah, Georgia, a consumer retail finance company, where he was most recently the company’s executive VP of store operations.

Consumer electronics and furniture retailer Conn’s has named a COO, along with heads for logistics and service.   The retailer named Coleman R. (“CR”) Gaines as president and COO, effective February 1, 2017.   Gaines previously spent seven years at TMX Finance in Savannah, Georgia, a consumer retail finance company, where he was most recently the company’s executive VP of store operations.     

Holiday sales not only beat expectations among industry observers, it hit a five-year high.   Retail sales grew by 4.8% through the holiday season, as compared to the same period in 2015 — and November and December spending growth is the strongest it’s been in five years, according to a new report from Visa.   “The Visa Retail Spending Monitor” tracks retail sales, with the exception of autos, gas, and restaurants, among retail goods, services and stores on Visa payment products. 

Walmart has made some big changes in its executive ranks, bringing together management of its Web and retail teams.     The changes, which the chain has not officially announced, come on the heels of media reports that Karenann Terrell would step down as CIO of Wal-Mart Stores on Feb. 24. As reported by CNBC.com, Walmart’s executive realignment includes the following:  

PGA Tour Superstore is celebrating the opening of its 28th U.S. store.   The privately held retailer has opened a store in Glendale, Arizona, its fifth location in the western state. Two more locations are in the works for 2017, with one in Hilton Head, South Carolina, and another in Jacksonville, Florida.  

Ahold USA can now boost it has “smarter stores” for its increasingly connected consumers.   The supermarket giant has rolled out a new wireless platform from Verizon Enterprise Solutions across its divisions, which include Stop & Shop New England, Stop & Shop New York Metro, Giant Landover, and Giant Carlisle, The platform has resulted in a digitally rich in-store experience for the grocer’s smartphone-using shoppers.   

It was a less than merry holiday for some retailers, especially in the department store sector, but total sales still managed to beat industry projections, fueled by a strengthening economy.    Retail sales (excluding autos, gas stations and restaurants) during November and December rose 4% over 2015 to $658.3 billion, according to the National Retail Federation. The group had forecast sales would rise 3.6% to $655.8 billion.  

Wawa has big plans for the Sunshine State.    The privately-owned, Pennsylvania-based convenience store chain plans to open 25 to 30 stores every year throughout Florida during the next several years.   In 2017, Wawa will start its push into the southeast part of the state, with a first wave of stores opening in Palm Beach and Broward Counties.  

An international study conducted by Capgemini found 80% of retail executives believing in the sanctity of the physical store. Only 45% of shoppers, however, felt the same way.   The consulting company’s Digital Transformation Institute surveyed 6,000 consumers and 500 retailers in the U.S., China, and seven European nations and found a consumer base much more taken up with technology and online shopping than leading merchants were.  

After nearly 30 years of doing business in the MainPlace Mall in Santa Ana, California, Nordstrom has announced it will be shuttering the location.