Corporate Governance

Retail sales stall in July
Consumers cooled their spending in July. Retail sales were flat in July, in line with a revised 0.8% gain in June, according to figures released Friday by the Commerce Department. The report ended three straight months of monthly gains. Sales in July rose 2.3% from a year ago. Excluding automobiles and parts sales, sales fell 0.3% in July — the weakest reading since January, after a 0.9% gain in the prior month.
First Look: Target, Lincoln Park, Chicago
Target Corp. has brought its new flexible-format store model to Chicago’s Lincoln Park North. The 33,000-sq.-ft. store, which features Target’s first Freshii café, has been carefully curated for the neighborhood, and includes home items sized for condos and small space living and artwork that reflects the local culture and community. The creative force behind the bold art installations was hometown artist Cody Hudson and his team at Struggle Inc.

Toy exec joins Gap board

The chief executive of Hasbro Inc. has joined the board of directors of Gap Inc., effective Aug. 12. The retailer said it is adding Brian D. Goldner to its board as the merchant focuses on its “next era of retail.” His appointment comes shortly after Gap posted a disappointing sales for the second quarter.
Department store offers more flexible, personalized loyalty program

Nordstrom Inc. is enhancing the rewards it offers customers via its loyalty program. The retailer partnered with Aimia Inc., a data-driven marketing and loyalty analytics company, to expand the Nordstrom Rewards loyalty program. The expanded program launched in Nordstrom stores in the U.S., Canada, and Puerto Rico, and on Nordstrom.com in May 2016. In the first three months, Nordstrom has enrolled approximately 1.7 million new members.
Grocery retailer to expand in new markets

Sprouts Farmers Market is on the move.
Veteran marketer joins outdoor retailer

Gander Mountain announced that Ron Stoupa will join the company as senior VP - marketing & e-commerce starting on Monday, Aug. 15. Stoupa will lead all marketing and e-commerce functions, including brand development, customer engagement and omnichannel initiatives for Gander Mountain.
Weis loyalty shoppers can now earn discounts on future shopping trips

Weis Markets on Thursday announced it has upgraded its Weis Reward Points Program to include the option of a 5% discount when customers use their Weis Preferred Shopper Club card and make a qualifying $100 purchase in a Weis Markets store. The discount can be redeemed on a customer’s future order.
Nordstrom feeling bullish

Nordstrom Inc. on Thursday reported second quarter earnings that exceeded Wall Street estimates, and also lifted its full-year earnings outlook. The upscale department store profit’s fell to $117 million, or $0.67 per share, from $211 million or $0.1.09 per share in the year-ago period. Analysts had expected earnings of $0.56 per share.
Experts Weigh In: Macy’s to close 100 stores

“I'm sad to see this news. Macy's is an iconic retailer with a long history of success, and one of many victims of Amazon success. In the same week that Jeff Bezos pockets roughly $800 million personal dollars, Macy's is forced to suffer a tremendous physical retail loss.
Pottery Barn’s evolving store design has green tints

Pottery Barn opened its redesigned store at South Coast Plaza in Costa Mesa, California. The 17,293-sq.-ft. store is influenced by the Spanish Mediterranean architecture found throughout Orange County, blending traditional and contemporary elements to create a refined and relaxed environment. As part of Pottery Barn’s commitment to sustainability, the store features LED lighting to reduce energy consumption and low VOC paints to reduce toxins.
Macy’s Q2 tops Street; still working to optimize real estate

Macy’s Inc. on Thursday posted second quarter results that topped analysts’ expectations. But with a steep drop in profit and sales still on the decline, the department giant said it will close 100 stores. It also gave an update on its real estate strategy.
Wal-Mart in deal with Liverpool

Wal-Mart Stores’ Mexican unit is shedding its apparel store chain. Wal-Mart de Mexico SAB (Walmex) is selling its Suburbia chain to El Puerto de Liverpool SAB, one of the largest department store operators in Mexico, in a deal valued at 19 billion pesos ($1.03 billion), Bloomberg reported.