Corporate Governance

Beatrice Lafon, the CEO of teen accessories retailer Claire's Stores, has resigned and been replaced by a current member of the board, according to a Securities and Exchange Commission filing.

The Limited has entered the fast-growing value retail sector.

Moving under the radar, The Limited has quietly debuted a new store concept, called Backroom at the Limited, in six malls across the nation.

The format offers a mix of work-to-weekend apparel, jewelry and accessories, with the merchandise made exclusively for the Backroom as well as the Limited’s outlet stores.

The employees who once greeted shoppers with a friendly “Welcome to Walmart” are making a comeback.

Walmart is reviving and updating its door-greeter program in an effort to improve customer service and also deter shoplifting.

The greeters were the invention of company founder Sam Walton, who saw them as a way to put a friendly face on the chain’s large stores. But in recent years, most of the employees who served as greeters were moved to other parts of the store.

Teen apparel retailer Abercrombie & Fitch is losing a key member of its executive team.

Jonathan Ramsden, COO, is resigning from Abercrombie effective June 15, 2006. Ramsden, who joined the company in 2008 as executive VP and CFO, was promoted to COO in 2014.

In a not unexpected move, Fairway Group Holding Corp., operator of the Fairway Market supermarket chain, filed for Chapter 11 bankruptcy protection.
   
The company filed a “prepackaged” bankruptcy restructuring under which its lenders agreed to exchange existing debt for new equity and debt in a reorganized company. Supporting lenders agreed to vote in favor of the plan and exchange their loans for common equity and $84 million of debt of the reorganized company.

David’s Bridal is expanding south of the border.

The bridal and special occasion retailer is partnering with Diltex, a leading manufacturer and retailer of intimate apparel in Mexico, to open its first franchise location, in Mexico City.

The store is expected to open by the end of 2016 with additional franchise locations planned to open over the next five years across the country.

Amazon.com is making its Prime Now on-demand delivery service more accessible, but is not adding new markets.

Following several weeks of media speculation, Amazon has made the formerly smartphone app-only Prime Now available as a page on its e-commerce site. Members of the paid Amazon Prime loyalty program in one of the 27 metro areas where Prime Now is available can place orders for one- or two-hour delivery.

Target Corp. is getting tough with vendors as it works to improve its supply chain.

The retailer plans to tighten deadlines for deliveries to its warehouses, hike fines for late deliveries, and could institute penalties of up to $10,000 for inaccuracies in product information, according to a report by Reuters.

In a not unexpected move, Fairway Group Holding Corp., operator of the Fairway Market supermarket chain, filed for Chapter 11 bankruptcy protection.

The company filed a “prepackaged” bankruptcy restructuring under which its lenders agreed to exchange existing debt for new equity and debt in a reorganized company. Supporting lenders agreed to vote in favor of the plan and exchange their loans for common equity and $84 million of debt of the reorganized company.