Corporate Governance

The National Retail Federation and the Retail Industry Leaders Association are throwing its support behind the tax reform proposal released Wednesday by the Trump administration and congressional leadership.   According to the NRF, the measure could provide a major boost for the nation’s economy.  

Walmart is looking to expand its share of the lucrative market for baby products.   The discounter announced it is relaunching its Parent's Choice line of baby essentials with an expanded line of products and a new logo. Parent's Choice, which began 20 years ago with just baby formula, will grow to 275 items. The relaunch comes as Target Corp. has been focusing on baby with new Cloud Island baby brand, which recently added has bedding and nursery decor to its assortment.   

Pier 1 Imports Inc. reported a wider-than-expected loss in its second quarter and forecast a smaller per-share profit for the year that analysts had expected.   Pier 1 lost $7.8 million, or 10 cents a share, compared with a loss of $4 million, or 5 cents a share, in the year-ago quarter. Adjusted for one-time items, the company reported a loss of 5 cents a share in the quarter.   

Accenture has signed on as the title sponsor for the Retail Cyber Intelligence Summit, which will be held in Chicago, October 3 - 4, 2017. The event is sponsored by the Retail Cyber Intelligence Sharing Center (R-CISC).   

U.S. retail CEOs are optimistic about growth prospects.   That's according to the 2017 KPMG U.S. CEO Outlook report by U.S. audit, tax, and advisory firm KPMG, which found that 95% CEOs of U.S. consumer goods and retail companies are confident about the growth outlook for the global economy, the industry and their companies over the next three years, despite potential technological risks. Their peers in other parts of the world, do not share the same optimism, the report found.  

Kevin Mansell, chairman, CEO and president of Kohl's, will retire in May 2018 at the end of the company’s annual shareholders meeting. The 35-year Kohl's veteran has served as its chief executive for nearly 10 years.  

Bass Pro Shops and Cabela's have officially joined forces — finally.   Bass Pro Shops' acquisition of Cabela’s Inc. is complete. The deal, in the works for more than a year, brings together two of the nation's leading outdoor gear and apparel retailers. Bass Pro, a leader in fishing, operates more than 100 retail stores, while Cabela's, which is heavy into hunting, counts 89 locations. Also part of the unified company, which will be privately held, is Bass Pro's White Marine Group boating division. 

Retail today isn’t for the faint-hearted. A recent quote from business magnate and investor Warren Buffet is quite telling, “I think retailing is just too tough for me, just generally.”