Corporate Governance

Retail sales surge in October
In a good omen for the upcoming holiday season, consumers spent more than expected in October, as U.S. sales rose more than expected. Retail sales increased by 0.9% over September and grew 2.2% on a year-over-year basis, according to the National Retail Federation. The calculations excluded automobiles, gasoline stations and restaurants.
Ikea partners with Red Cross to give customers unique window into Syria
Ikea has brought the horrors of the Syrian civil war home to customers at its flagship in Slependen, Norway. In a joint fundraising effort, the Swedish home furnishings giant, in partnership with the Norwegian Red Cross, has recreated the small, unfurnished apartment of a Syrian mother and her children in the middle of the store. The space is based on a real-life apartment in Damascus, according to CNN.

Nine takeaways from Home Depot's earnings

There was a lot for Home Depot executives to like about the company’s third-quarter performance. The company reported sales growth of 6.1% and net earnings growth of 14.1%. Beyond the numbers, here are some of the key takeaways form the company’s presentation to investors. • Digital growth
Prince Georges Mall adds Ulta and DSW

The Mall at Prince Georges in suburban Washington, D.C. will welcome a 16,000-sq.-ft. DSW location and an 11,000-sq.-ft. ULTA in second quarter 2017. The signings are part of PREIT’s ongoing strategic plan to re-outfit its centers with “in-demand” retailers. “The property has just begun its transformation into an elevated, vibrant shopping and dining destination commensurate with the development that has occurred in the surrounding area,” said Joseph F. Coradino, CEO of PREIT.
Tips for Success in a ‘Free Shipping’ Environment

Here’s a daunting statistic: The value of merchandise ordered via same-day delivery is expected to exceed $4 billion by 2018 — it was $100 million in 2014. The big reason for this jump is the grueling pace set by Amazon Prime Now, which offers two-hour delivery for consumers in 27 US markets and counting.
Home Depot beats Street in Q3

The Home Depot on Tuesday reported sales and earnings for its third quarter that exceeded forecasts. The world’s largest home improvement retailer posted a double-digit increase in earnings during the quarter, which it characterized as a balanced across-the-board period of growth. Net sales jumped 6.1% to $23.2 billion, compared to $21.8 billion in the same quarter last year. Comparable-store sales in the U.S. increased 5.9%.
Dick’s Sporting Goods tops Q3 estimates but gives weak guidance

Dick's Sporting Goods Inc. on Tuesday reported better-than-expected sales and earnings for its fiscal third quarter but tempered its good news with a weak outlook for the fourth quarter. Dick’s posted net income of $48.9 million for the quarter ended Oct. 31, up from $47.2 million in the year-ago period. On a per-share basis, the Coraopolis, Pennsylvania-based company said it had profit of 44 cents. Earnings, adjusted for non-recurring costs, were 48 cents per share.
Finish Line exploring alternatives for its specialty banner

It’s official: The Finish Line considering selling its specialty running store chain. The company announced that it is currently exploring strategic alternatives for its JackRabbit division (previously known as Running Specialty Group). The segment includes 70 specialty running stores in 17 states, such as Brooks, ASICS and Hoka One One.
Home furnishings giant’s distribution center going solar

Ikea continues to expand its use of renewable energy. The retailer plans to install the largest rooftop solar array in the state on Illinois on its distribution center in Joliet.
Off-price giant soars in Q3; raises outlook

The TJX Companies topped earnings and sales forecasts for its third quarter as deal-loving consumers flocked to its stores. The off-price apparel and home goods retailer reported that net sales for its third quarter, ended Oct. 29, rose 7% to $8.3 billion, on top of a 5% increase last year.
Butler names new marketing director

Butler Enterprises has named a Gainesville insider to promote and market its Neighborhoods at Butler project in that Florida college town. The complex’s new director of marketing, Mary Reichardt, arrives at Butler from the Visit Gainseville-Alachua County Tourism Development Office, where she served as marketing chief. There, she created the county’s first brand strategy to establish awareness across the U.S. and in Europe.
Regency Centers, Equity One merge in $15 billion deal

Regency Centers, a major player in grocery-anchored centers with 307 properties, and Equity One, owner of 98 retail properties, have signed an agreement to merge. Regency will continue as the surviving public company and, it claims, assume the position as the largest shopping center real estate investment trust. The combined company is expected to have a total market capitalization of approximately $15.6 billion.