Corporate Governance

Two weeks after its second annual Prime Day surpassed expectations, Amazon’s winning streak continued as it posted its fifth straight quarter of profitability.    The online giant posted adjusted earnings per share of $1.78 for the quarter ended June 30, easily surpassing expectations for $1.11. Net income was $857 million, compared with $92 million in the year-ago period.      

In one of the largest acquisitions in its history, Oracle Corp. has agreed to buy cloud-software provide NetSuite for $9.3 billion, or $109 per share in an all-cash deal, the companies announced Thursday.   “Oracle and NetSuite cloud applications are complementary, and will coexist in the marketplace forever,” said Mark Hurd, CEO, Oracle. “We intend to invest heavily in both products — engineering and distribution.”  

Ulta Beauty is expanding its popular Ultamate Rewards loyalty program.   The retailer is partnering with  Alliance Data Systems Corp. Alliance will develop and manage the Ultamate Rewards Credit Card, which is designed to enhance the benefits of the chain’s loyalty program.   Alliance will provide private-label and co-branded credit card services for Ulta, the largest beauty retailer in the United States, operating 886 stores nationwide.  

Walgreens on Thursday announced the company will discontinue operations of drugstore.com and Beauty.com in favor of focusing on its core online property Walgreens.com.  

Phillips Edison & Company announced the appointment of Beth Farrell Donnelly as VP and assistant general counsel. She will work with senior VP and General Counsel Tanya Brady to provide legal advice on all aspects of the company’s business.  

The Mid-America Real Estate Group announced the hiring of Ashlee Yenney as its corporate marketing director. She will be responsible for marketing and public relations efforts across company offices in Chicago, Detroit, Milwaukee, Minneapolis, and Oakbrook Terrace, Illinois.  

Home furnishings retailer West Elm will open a new store in downtown Reno, Nevada, on Aug. 11.    The 11,000-sq.-ft. store is located on the main floor of the former U.S. Post Office building, which has been transformed into The Basement marketplace, an underground venue with a mission to create a multi-use incubator space of both retail and food vendors celebrating handicraft.   

GNC Holdings on Thursday replaced its chief executive and suspended its earnings guidance. It also reported disappointing second quarter results.     The company has appointed former PetSmart chief executive Robert F. Moran as interim CEO, effective immediately. Moran, a director of GNC, replaces Michael G. Archbold, who has also resigned from the GNC board.  

Stroll by the new Combatant Gentlemen store in Santa Monica, California, and you might think it’s an outfitter of Bondian self-defense gear for bespoke men in turbulent times. In fact, it’s a ready-to-wear suit store for young corporate commandos hoping to pass muster in boardrooms on meager salaries. (Suits range from $165 to around $320.) It’s also the first permanent brick-and-mortar outpost of the vertically-integrated, fast-growing online menswear brand, which was founded in 2012.