Corporate Governance

Kohl’s Corp. reported a better-than-expected quarterly profit amid expense controls that helped make up for lower sales.   The chain reaffirmed its full-year profit forecast.   Kohl’s net income rose 21.7% to $146 million, or 83 cents per share, in the third quarter ended Oct. 29. Excluding items, Kohl's earned 80 cents per share.   Sales decreased 2.3% to $4.33 billion from $4.3 billion in the year-ago period. Same-store sales fell 1.7% during the quarter.

Macy’s third quarter profit fell short of analysts’ expectations, but the retailer raised its annual sales outlook based on improving trends in its business.    The retailer also announced an agreement with Brookfield Asset Management to monetize the value of its massive real estate portfolio.   

Macy’s has signed an agreement that could lead to more downsizing of its valuable real estate portfolio. It also has entered into deals to sell one of its stores in San Francisco, and one in Portland, Oregon.   

San Antonio’s zoning commission voted has approved a $300 million makeover of the city’s shuttered Lone Star Brewery. Three previous attempts to redevelop the 32-acre site dating back to 1996 never materialized.   The co-project of CBL and Aqualand Development will be a mixed-use property combining retail, hotel, residential, and office space. Cinemark Theaters and Punch Bowl Social — a dining and gaming center with locations in Denver, Austin, and Cleveland — have signed on as the first tenants.  

The results of yesterday's elections will affect a number of issues facing retailers, including infrastructure, tax reform, trade, immigration, labor and health care.       Craig Shearman, National Retail Federation (which does not endorse presidential candidates) looks at how President-elect Donald Trump and a Republican-controlled Congress could impact the industry.  

Dollar General is planning to unveil a smaller-store concept designed around convenience.   The new format, reportedly to be called DGX,  is due to open in early 2017, with a unit in downtown Nashville, and another in Raleigh, North Carolina.       

Dollar General is working out details to construct a $91 million distribution center in Orange County, New York.   The chain is eyeing the creation of a 750,000-square-foot distribution hub on a 100-acre site in the town of Florida, N.Y., the Albany Business Review reported.      The building would supply merchandise to 1,000 stores in the Northeast, and could bring more than 500 jobs to the Albany, N.Y., region over the next five years, according to the report.   

The Trump campaign hired a British data firm that collects data gleamed from such sources retailers’ loyalty cards to help target potential voters.   

Omnichannel adoption is a prerequisite to remain relevant in today’s retail world. Yet, many retailers are still missing the mark.   That is the message delivered in “Five Insights into the Omnichannel Landscape,” a benchmark report from eTail East and WBR Digital.  The study reveals progress among multiple retail sectors, including specialty retail, apparel, and high-end fashion apparel, among others.