Corporate Governance

The spinner craze continues to benefit Five Below which has produced a stunning set of second quarter numbers, beating even its own high expectations. Total sales rose by almost 29% over the prior year, supported by a 9.3% uplift in comparables. Meanwhile, a substantial expansion of margins fueled bottom line growth where net income was up by 71.4%.  

In what it claims to be the biggest-dollar real estate transaction in the state of Virginia this year, Morgan Properties bought the Mark Center in Alexandria for $509 million.   The Mark Center combines 2,664 residential units with 63,320 sq. ft. of retail on 150 acres within the Capital Beltway. The site features read access to Interstates 295, 395, and 495 and is within minutes of downtown Washington, D.C.  

Walmart is expanding its online breadth in Canada.   The discount giant expanded its global online marketplace to its Canadian e-commerce store, Walmart.ca, a move that doubles the site’s online product assortment. The retailer expects this number to quadruple by the end of this year, according to Walmart.  

Kohl's is reaching out to its associates as well as the general public impacted by Hurricane Harvey.   The retailer said it will provide an estimated $1 million in financial support to its employees who have been significantly impacted by the storm. Kohl’s will continue to monitor the impact of the flooding throughout the region to evaluate the need for additional assistance.   

Based on its recent bold expansion into the grocery segment, Amazon is primed to give food and beverage e-commerce a shot of adrenaline.   This was according to “U.S. Grocery Market Focus: The Amazon Food Shopper,” a report from Packaged Goods.    According to the firm’s estimates, Amazon's 2016 online food and beverages sales, including AmazonFresh, is at $1.5 billion. This volume is expected to rise to $2.3 billion in 2017, giving the company a 19% share of the online market.

West Elm brand is expanding in the U.K.   The retailer, a division of Williams-Sonoma, will open its second U.K. location, in the London suburb of Kingston-Upon-Thames in winter 2017. The two-story, 8,000-sq.-ft. store is on the ground floor of Bentalls Shopping Centre. The new location will open with the brand's holiday assortment, along with a signature mix of furniture and accessories, and Fair Trade Certified and handcrafted products.   

Amazon isn't as dominant as is widely believed — at least not according to a new report from Moody's Investor Services.   

Going private may take some pressure off a company, but it is not without its risks.   In June, the Nordstrom family, which owns 31.2% of the department store's stock, announced it planned to explore taking the company private. But in its latest quarterly filing with the Securities and Exchange Commission, Nordstrom executives warned of the potential risks that might come with a move, reported Puget Sound Business Journal.