Corporate Governance

The Container Store and Southwest Airlines are teaming up to surprise harried holiday travelers passing through airports across the nation.   Starting Thursday, Dec. 22, the partners are easing holiday stress for travelers by offering complimentary gift wrapping. The service is available between 10 a.m. and 3 p.m. at the following 10 airports:   • Chicago (Midway) International Airport • Dallas (Love Field)  • Denver International Airport 

Across the United States, cities have been experiencing a development resurgence. Legions of Americans are departing suburbia and returning to urban environments, with millennials leading the migration. Young adults are abandoning the suburban subdivisions they grew up in for denser, more vibrant urban settings. Consequently, once-empty lots, city blocks, and otherwise underutilized properties are being replaced with multi-use buildings that can accommodate new residences, office space, and retail.  

Finish Line missed analyst estimates for third quarter earnings, an issue the company blames on declines in its apparel and accessories categories.   The athletic specialty retailer reported revenue of $371.1 million for the 13 weeks ended Nov. 26, 2016. While this is an increase of 3.0% over the prior year period, it falls short of the consensus estimate of $411.61 million.   

American Apparel’s financial saga is winding down.  

Amazon is continuing to build out its already expansive fulfillment network.    The online giant plans to open two new facilities in Aurora, Ill, generating more than 1,000 additional full-time jobs with benefits to the state. Amazon currently operates warehouses in Edwardsville, Joliet and three facilities in Romeoville. Another depot is currently under construction in Monee.  

Aeropostale, Disney Store, Pacific Sun, and Zumiez joined the growing list of retailers that have stopped using the controversial practice of on-call scheduling for store employees.   

Officials from the city of Troy, Michigan, made the rounds of the New York Deal Making show looking for a partner to help them erect a proposed $350 million town center.  

French children’s clothing company Orchestra-Premaman SA has won its battle to acquire to acquire Destination Maternity Corp.    The deal calls for Orchestra to acquire Destination Maternity for about $7.05 a share, valuing the U.S. retailer at about $100 million according to its share count.  

Did Amazon’s website had a technical glitch on one of the biggest shoppings day of the year?   According to various reports, Amazon’s site had a glitch on  “Super Saturday”  that temporarily prevented customers from making purchases.   

For more than half a century, Chain Store Age’s annual SPECS conference has delivered one of the retail industry’s most important and impactful events.        The 2017 event, to be held March 12-14 at the Gaylord Palms, Kissimmee, Florida, will cover a wide range of emerging and evolving issues, focusing on must-see innovations and essential information about trends, topics and technologies that will be impacting the industry for many years to come.