Corporate Governance

HSN’s CFO and COO is taking a new job, but she won’t have to travel far.   Judy Schmeling has assumed the helm of the Cornerstone Brands division of HSN, which consists of home and apparel banners such as Frontgate, Garnet Hill, Grandin Road and TravelSmith.    Schmeling, who will continue to report to HSN CEO Mindy Grossman, will maintain her COO position at HSN, and she will remain CFO until a successor is appointed.  

Tuesday Morning is showing off its updated prototype at two locations.   The chain’s expanded store at Preston Shopping Center, Dallas, and new store at Parker Central Shopping Center, in Plano, feature new fixtures, flooring, improved lighting and a redesigned store layout that makes it easier for customers to shop. The format also includes an expanded assortment of goods.  

Michaels purchased the rights to Hancock Fabrics’ brand and intellectual property for $1.3 million from U.S. Bankruptcy Court in Delaware.    The Texas-based crafts retailer takes possession of its ex-rival’s patents and trademarks, as well as its name. Personal and transactional data from 10 million Hancock customers was included in the deal, according to the Memphis Business Journal.  

HSN’s CFO and COO is taking a new job, but she won’t have to travel far.   Judy Schmeling has assumed the helm of the Cornerstone Brands division of HSN, which consists of home and apparel banners such as Frontgate, Garnet Hill, Grandin Road and TravelSmith.    Schmeling, who will continue to report to HSN CEO Mindy Grossman, will maintain her COO position at HSN, and she will remain CFO until a successor is appointed.  

Papa John’s is the most recognized brand among fans of the National Football League and the chain intends to keep it that way, announcing it had renewed its multiyear deal as the official pizza sponsor of the NFL and the Super Bowl.   In that regard, Papa John’s is permitted to use NFL logos in its advertising and conduct integrated marketing campaigns involving the NFL Kickoff event and the Pro Bowl in addition to the Super Bowl.   

Three current franchisee groups will introduce a total of 17 new Dunkin’ Donuts shops to the Atlanta area following deals signed with Dunkin’ Brands. Four of the units will be co-branded with Baskin-Robbins.  

The Cato Corp. reported sales of $61.2 million for the four weeks ended July 30, down 8% from the same period a year ago.     Same-store sales for the month were down 10% from the prior year.   On a quarterly basis, Cato sales for the second quarter fell 5% to $236.7 million, compared to $249.2 million a year ago. Second quarter same-store sales were down 6% from the prior year.  

RediClinic convenient care clinics has named a seasoned healthcare executive as its new CFO.   Jeff Fields is joining Health Dialog, provider of population health management services, and RediClinic as CFO. He will be responsible for the fiscal management of both RediClinic and Health Dialog as they continue to grow in the total population management services and retail health care markets.   

Fred's Inc. saw July sales drop 7% to $154 million, compared to $165.6 million in the same period last year.    Comparable store sales for the month declined 4.6%, compared with an increase of 0.7% in the year-earlier period.   Fred's total sales for the second quarter of fiscal 2016 decreased 3.4% to $527.7 million, from $546.1 million for the same period last year. On a comparable store basis, second quarter sales decreased 2% versus an increase of 0.9% for the year-earlier period.

Sprouts Farmers Market Inc. reported second-quarter net income of $37.2 million, which topped Wall Street expectations.    The natural and organic food retailer posted revenue of $1.03 billion in the period, narrowly missing Street forecasts of $1.04 billion, but topping last year’s sales by 14%.   Same-store sales grew 4.1% in the period.