Corporate Governance

SPECS, the “Retail Event for Store Innovation,” announced that a highly acclaimed military general who is an expert on security and global affairs will open the second day of the program of its 53rd annual conference, which will be held March 12-14, 2017, at the Gaylord Palms in Kissimmee (Orlando), Florida.  

Rue La La is embarking on a cross-border journey.   Pure-play retailer Rue La La is going international.    The retailer is expanding its reach to members in 219 countries and territories.    By utilizing the Borderfree Retail Platform from Pitney Bowes, the brand can now support a seamless shopping experience internationally, from leveraging local currency to accessing available local shipping services, regardless of where the member is located.

The surge in home improvement projects is helping fuel sales at The Tile Shop.    Tile Shop Holdings Inc. on Tuesday reported third-quarter profit of $4.6 million for the third quarter, ended Sept. 30. Earnings, adjusted for non-recurring costs, came to 10 cents per share.   The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.  

Organized retail crime does not discriminate.      In a unanimous finding, a full 100% of retailers reported that their companies had experienced ORC in the past year, up from 97% in 2015, according to the 12th annual ORC study released by the National Retail Federation. It is the first time in the survey’s history that all responding companies reported being a victim.     

Alliance Data’s card services business has renewed its agreement with Restoration Hardware.   Alliance signed a long-term renewal agreement to provide private label credit services for the luxury home furnishings retailer.       

Stater Bros. continues to grow its footprint in Southern California.   The San Bernardino, California-based company announced that the Ralphs Supermarket in Riverside (California) will be converted to a “Blue Ribbon” Stater Bros. supermarket. (Stater’s “Blue Ribbon” units are energy efficient and environmentally friendly.)   At 46,000-sq.-ft., the Riverside store will undergo an extensive remodel, and reopen under the Stater banner in spring 2017.  

Amazon gave some very special visitors a tour of its top secret drone testing laboratory in Cambridge, England.  

Inland’s ad tagline says the company’s “always buying.” One of the nation’s leading drugstore chains just found out how true that is.   Inland Real Estate Acquisitions announced that it has acquired 24 CVS pharmacy properties for $116 million. The stores are located in 14 states and add up to 276,466 sq. ft. of retail space.  

Southfield, Michigan-based Versa Development has purchased Cascade Crossing in Sault Ste. Marie for $11.5 million.    Mid-America Real Estate Corp. handled the sale on behalf of the seller, DDR Corp.   Situated at the junction of Interstate 75 and 3 Mile Road in the Canadian border town, the 276,361-sq.-ft. center is anchored by Kohl’s, J.C. Penney, TJ Maxx, and Jo-Ann Fabrics.  

It was in 1983 that Steve Lemmon and David Rubenzer brought on Ray Barton as a partner to franchise the cheap haircut concept they started on the University of Minnesota campus. They chose well. Barton’s wife Mary Lou was one of the first franchisees, and Barton himself remains chairman of the board as the company celebrates the opening of its 4,000th franchise in Flat Rock, Michigan.   “The company continues to grow with happy franchisees who open multiple salons,” said Great Clips CEO Rhoda Olsen.