Corporate Governance

Food-stamp cuts contribute to Dollar General’s woes in Q3
Reductions in food-stamp benefits and falling grocery prices took a toll on Dollar General Corp.’s third-quarter performance which came in below expectations and included an unexpected drop in same-store sales. The company reported a profit of $235 million, or $0.84 per diluted share, in the quarter, compared to net income of $253 million, or $0.86 per diluted share, in the year ago period. Its profit included a charge of about 5 cents per share for store relocation costs and disaster-related expenses.
Another apparel retailer sounds cautious note on holiday
Express reported a drop in third-quarter profit and slashed its full-year adjusted earnings outlook, warning that the holiday season will "remain challenging." In recent days, an array of apparel retailers have expressed caution about the holiday selling season, including Gap, Abercrombie & Fitch and American Eagle Outfitters. Express earned $11.6 million, 15 cents per share, for the quarter ended Oct. 29, down from $26.3 million, or 31 cents per share, a year earlier.

Amazon rolls out a truck for shipping data

It’s not a joke. Amazon Web Services has announced a new service, called AWS Snowmobile, designed to physically get all of the data stored in a company's massive data center into Amazon's cloud, Business Insider reported.
Fast-growing convenience store operator implementing salary increase despite judge’s injunction

Sheetz is moving forward as planned to implement the changes outlined in the new overtime rule.
Quick-serve giant joins Energy Star

The Wendy’s Company has extended its commitment to reducing energy. The restaurant chain has joined the Environmental Protection Agency's Energy Star Program and will work to improve energy efficiency through a strategic, corporate energy management program that will enhance the company's energy strategy.
Report: Walmart, Target, CVS Health tops in chemical safety

A new report reveals that some big retailers are cracking down on toxic chemicals in consumer products, while others are serious laggards.
IDC Retail Insights: Top 10 Predictions for Global Retail

The need for digital transformation, more integrated IT and operations, business security, and rethinking the future of work are among the themes that dominate IDC Retail Insight’s top 10 predictions for worldwide retail 2017. While the predictions largely focus on the near- to mid-term (2017–2020), the impact, in some instances, will be felt for years to come, according to IDC. Most of the predictions refer to a continuum of change within the wider ecosystem of the retail industry and global economy.
Furniture retailer to bolster shopping experience with virtual reality

Ashley Furniture is jumping into virtual and augmented reality to help shoppers visualize how furnishings can fit into a space more accurately. The retailer is launching a company-wide virtual reality (VR) and augmented reality (AR) initiative that is designed to enable consumers to create interior layouts and experience living spaces in 3D. Ashley Furniture will create and scale its product catalogue for AR and VR, and publish new 3D product experiences, with a platform from augmented reality and virtual reality provider Marxent.
American Eagle lowers forecast

It’s a rough time for many teen apparel retailers and the holiday season may not bring much relief. American Eagle Outfitters Inc. on Wednesday issued a weaker than expected forecast for the fourth quarter as its CEO cited a “tough” retail environment. Its warnings issues similar statements from the likes of Abercrombie & Fitch and Gap.
U.K. fast-fashion e-tailer interested in acquiring Nasty Gal

Boohoo, a fast-fashion online retailer based in Manchester, England, is reportedly bidding for bankrupt U.S. retailer Nasty Gal. Boohoo has filed a petition to incorporate Nasty Gal as part of its business in the United Kingdom, registering the business Nasty Gal Ltd with Companies House, fashionunited.com reported.
JGA adds new executive position

JGA has named Joanne Healy to the newly created position of executive VP, chief strategy officer. Her responsibilities will span across strategy, creative and business development, bringing her unique perspective to the rapidly evolving world of retail, service and brand experience.
New York Retailer Market Update: Too Hot, or Not?

The ICSC New York Conference is one of the larger gatherings of retail real estate professional’s on the calendar – and is an important touch point for professionals in the NYC market. Ahead of the show, Bob Gibson, retail vice chairman of JLL, based in New York, shared his take on this expansive and important retail market.