Corporate Governance

Loblaw plans $1 billion enterprise growth investment
Canadian supermarket and pharmacy retailer Loblaw Companies intends to expand in areas including real estate, e-commerce, IT and supply chain during 2016.
Warby Parker builds brick foundation
Specialty eyewear retailer Warby Parker is increasingly moving away from its roots as a pure-play e-commerce operation. In an interview with Re/Code, co-CEOs Dave Gilboa and Neil Blumenthal discuss how traditional channels like brick-and-mortar, as well as emerging channels like virtual reality, play a role in the company’s continuing evolution. [Re/Code]

99 Cents Only bolsters capital structure

Leading single price point retailer 99 Cents Only has secured a major amendment and extension of its credit facility until 2021.

The operator of 391 stores, 283 of which are located in California, announced it successfully completed an amendment and extension of its asset-based revolving credit facility providing commitment of up to $160 million and extending the maturity date by five years to April 8, 2021.
Report: Amazon’s Bezos not afraid of failure

Amazon is the best place in the world to fail—that’s just one of the insights and observations in CEO Jeff Bezos’ annual letter to shareholders.
Facebook branded content update offers retailers new marketing tool

The world’s largest social network has updated its policies regarding branded content and, in so doing, given retailers a new marketing tool.

Facebook is now allowing retailers and other marketers to work with media companies, celebrities and other key “influencers” to place certain types of branded content on its platform.
In branded content update, Facebook provides retailers with new marketing tool

The world’s largest social network has updated its policies regarding branded content and, in so doing, given retailers a new marketing tool.

Facebook is now allowing retailers and other marketers to work with media companies, celebrities and other key “influencers” to place certain types of branded content on its platform.
Survey: Most consumers have chip-enabled cards; retailer acceptance lags way behind

Most U.S. consumers now carry a smart credit card, but they haven’t had all that much opportunity to stop swiping and start dipping their cards into upgraded terminals.

That’s according to a survey of 932 U.S. credit card-holders by CreditCards.com, which found that 70% of respondents carry at least one chip-based card. This is up from only 14% in a survey conducted by the same company in September 2015, before the October 1 deadline that shifted liability for some fraud shifted from card issuers to merchants that can't accept the new cards.
The North Face has big plans for Manhattan

The outdoor apparel retailer plans to open a flagship on Fifth Avenue, in the space formerly occupied by Canadian fast-fashion merchant Joe Fresh, the Real Deal reported.

The retailer signed an eight-year sublease from Joe Fresh for approximately 20,000 sq.ft. at Vornado Realty Trust’s landmarked building at 510 Fifth Avenue, according to the report. The space includes three levels of retail.

The North Face is also looking for a larger space in Manhattan’s SoHo area, the report said.
Best Buy’s Geek Squad gets new green wheels

Best Buy is ditching the signature Volkswagen Beetle it has used to transport its tech support arm, the Geek Squad, over the past 14 years in favor of Toyota’s Prius c hybrid cars.

In addition to saving money on gasoline, switching to the hybrid gasoline-electric vehicle will produce about half the emissions of the previous Geekmobile over the life of the vehicle, in line with Best Buy’s commitment to reduce its own carbon emissions by 45% by 2020.
Founder of American Apparel plans new venture

Dov Charney, the founder and ousted CEO of American Apparel, is scouting sites for a factory in South Central Los Angeles as he plots his comeback, Bloomberg reported.

Charney’s new venture reportedly will sell USA-made basics, starting off as a wholesale business and then expanding into a consumer online brand.

“I have a vision,” Charney told Bloomberg. “My business model works.”
Walmart online marketing head returns to his roots

Brian Monahan, VP of marketing for Walmart.com, has left the chain (as of April 1) to go back to a startup he helped found in 2012.

Monahan, who joined Walmart in May 2013, is now serving as chief evangelist of San Francisco-based NewCo Festivals, a media and events platform he co-founded with John Battelle in 2012. NewCo hosts global events it calls “festivals” for start-ups and also publishes editorial content aimed at start-ups. In his new (or old) role, he will oversee brand strategy, sales and marketing, and product development.
Duluth Trading expanding its store base

Brand awareness and sales growth are accelerating at Duluth Holdings where the company’s rapidly expanding store base is so young it won’t be able to report same-store sale growth until 2017.

Belleville, Wisconsin-based Duluth Holdings, known to customers as Duluth Trading Company, grew sales 27.5% to $140.4 million and net income increased 25.8% to $17.5 million, or 58 cents a share, during the quarter ended Jan. 31. For the full year, total sales rose 31.2% to $304 billion. Net income grew 16.1% to $27.4 million, or $1.06 a share.