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Corporate Governance

  • J. Crew decline accelerates

    J. Crew's troubles showed no sign of easing in the first quarter as the retailer posted its 11th consecutive quarter of same-store sales declines.    Total sales fell 6.3% to $532 million in the quarter, ended April 29. Total same-store sales fell 9%.   By brand, J. Crew sales decreased 11% to $428.5 million; same-store sales fell 12%. Madewell sales increased 17% to $84.7 million; same-store sales increased 10%.   

  • GDA acquires portion of Michigan power center

    GDA Real Estate Services has purchased an 174,353-sq.-ft. portion of the Marketplace at Delta Township Lansing, Michigan, in a deal brokered by Mid-America Real Estate Corporation. The sale price was not disclosed.   Key tenants at the acquired property include Michael’s, Petsmart, Tractor Supply, and Ulta Beauty. It is shadow-anchored by Walmart and Lowes.  

  • Amazon in new rewards program for Prime

    Amazon is giving shoppers another reason to sign up for Prime—and a reason not to use credit cards.   The online giant is launching a new program, called Amazon Prime Reload, that allows Prime members to earn 2% bonus every time they reload their Amazon gift card balance with cash from their checking account and debit card. The bonus is given in the form of rewards that can be used to make purchases on Amazon.   

  • Luxury department store retailer shelves sale

    Neiman Marcus Group is going it alone — at least, for now.

  • jet.com’s strategic move takes aim at Costco

    Walmart’s e-commerce arm is shaking up its private label offerings.   Jet.com will increasingly phase out its assortment of Kirkland Signature branded merchandise — Costco’s private label brand. The move is said to help augment efforts among Walmart’s Sam’s Club chain, which is focused on boosting sales among its own store brand, Member’s Mark, according to Bloomberg.

  • Study: The least trusted among top media channels is...

    Social media may be a popular platform for ad delivery, but that doesn't mean it is a trusted one.   Despite listing social media as the source of the second-highest volume of ad messages they receive — behind only television — consumers ranked social media last among their most trusted channels, according to a study by the Chief Marketing Officer Council. Consumers ranked friends, television, search engines and newspapers as more trusted sources.  

  • Survey: Lidl poses big competitive threat

    Consumers are very excited about shopping at German discount grocer Lidl — even though they have never set foot inside one of the company's stores before.    Lidl's upcoming entry into North Carolina, South Carolina, and Virginia could remove $1 billion in local sales in the medium term, according to a report by global consulting firm Oliver Wyman which surveyed consumers in the three states cited above. It reveals that consumers are overwhelmingly excited about trying Lidl.   

  • Supervalu embarks on IT transformation

    Eager to strengthen operations across its enterprise, Supervalu is moving to the cloud.   Through a strategic relationship with Sungard Availability Services (Sungard AS), the grocery company is replacing its mainframe technology infrastructure with a new mainframe platform that will offer cloud, back-up, and other solutions and services. The new configuration is designed to improve operations across the independent retailers it supports.   
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