Corporate Governance

Walgreens shuffles executive ranks
Walgreens Boots Alliance is making a number of changes to its senior management roles and responsibilities as part of what the company is calling the “next phase of evolution.”

Alex Gourlay, executive VP of Walgreens Boots Alliance and president of Walgreens, and Ornella Barra, executive VP of Walgreens Boots Alliance and president and chief executive of global wholesale and international retail, have been appointed to the role of co-CEOs.
Familiar face returns to Under Armour
A veteran creative executive is coming back to Under Armour in a new role, following a short hiatus.

Dave Dombrow, former Under Armour senior VP, creative footwear and accessories, will return to the brand as chief design officer, beginning Aug. 1, 2016. In his newly created role as chief design officer, Dombrow will guide the design of Under Armour's entire collection of footwear, apparel and accessories.

Amazon keeps expanding supply chain infrastructure

Amazon.com has been announcing a lot of new distribution centers lately, and now is opening a new IT office dedicated to logistics, as well as a new physical pick-up location.

The e-tail giant is planning a new technology development center in downtown Minneapolis that will create 100 full-time, technology-focused jobs. Amazon currently has hundreds of employees in Minnesota and is also in the process of hiring an additional 1,000 full-time employees for its new Shakopee, Minnesota, fulfillment center.
CVS Health debuts across Oregon through Target

Oregon, a new market for CVS Health, is the latest market where Target pharmacies have been successfully transitioned to CVS Health, the Rhode Island pharmacy operator announced Wednesday. The new CVS pharmacies, located in several metropolitan areas, including Portland, Eugene and Medford, are being operated through a store-within-a-store format.
Target shareholders vote on directors, exec compensation

Investors in Target Corp. decided on several important issues at the retailer’s 2016 annual meeting.

Shareholders elected 14 members of the board of directors, ratified the appointment of Target’s independent registered public accounting firm, approved proposal on compensation for executives and rejected one shareholder proposal.
Another retail CFO moves on

Another day, another finance chief at a well-known retailer is leaving.

Jane Hamilton Nielsen, CFO at Coach Inc., will be departing the company to pursue another opportunity. In order to facilitate a smooth transition, Nielsen is expected to stay into August 2016. The company is commencing a search for her permanent successor with Crist Kolder Associates. Andrea Shaw Resnick, global head of investor relations and corporate communications, will be appointed interim CFO until a permanent appointment is made.
Study: What grocers satisfy customers the most (and least)?

When it comes to customer experience, not all grocery chains are created equal.

According to the new Customer Quotient (CQ) survey from global customer intelligence agency C Space, Trader Joe’s is the most customer-centric grocer. Conversely, Shaw’s scored the lowest of 27 options.
Report: Target asks suppliers for help

Target is reportedly requesting that many of its suppliers assume up to 3% to 5% more of the cost of promotions and price reductions on some items.

According to Reuters, at least 12 Target suppliers have confirmed they were asked to pay for more of the promotional cost for a variety of slow-moving products. Target reported declining sales in its most recent fiscal quarter and publicly said it would likely enter an extended promotional period.
New York grocer gets Chapter 11 ruling

Fairway Group Holdings Corp., the parent company of Fairway Market, has received a verdict on its May 2016 bankruptcy filing.

The iconic New York food retailer had its Chapter 11 bankruptcy reorganization plan unanimously accepted by 100% of voting secured lenders and confirmed by Bankruptcy Judge Michael E. Wiles. Fairway is expected to emerge from bankruptcy during the week of June 20, 2016 with approximately $50 million in cash, a $140 million reduction of its debt and a reduction of annual debt service obligations by up to $8 million.
DSW takes personalization to new level

Shoe shoppers know how individual fit can be, and footwear chain DSW Inc. is trying to be as accommodating as possible.

DSW is partnering with 3D footwear printing specialist Feetz to create custom fit, sustainably made shoes. Feetz uses a combination of 3D printer technology and human craftspeople to make new pairs of shoes in hours and designed software to custom fit shoe designs to consumers’ feet.
Bebe launches new global growth initiative

Bebe Stores Inc. is building upon efforts to turn itself around and boost its international presence.

The specialty apparel retailer, which launched a China growth plan in 2015, has entered into a joint venture with Bluestar Alliance LLC to license its brand domestically and globally. Bebe has received $35 million in connection with the formation of the joint venture.
Dollarama sees green in Q1; plans new stores

Dollarama Inc. got fiscal 2017 off to a strong start.

Dollarama Inc. reported sharp increases in profit and revenue during the first quarter of fiscal 2017, and intends to open a net of 60-70 new stores by end of the year.

Net earnings soared 28% to $83.2 million from $64.8 million the same quarter a year earlier. Improvement of the gross margin and lower selling, general and administrative (SG&A) expenses as a percentage of sales helped drive net earnings growth.