Corporate Governance

Sephora is all about offering top-notch service to its customers — even its business partners.   According to the Incentive Research Foundation and Incentive Gift Card Council, business-to-business (B2B) gifting is becoming more prevalent across U.S. companies, as they spend $22.7 billion per year on gift cards. Sephora’s new partnership will enable the company to claim a bigger portion of this market share.  

A luxury retail giant just made a move that could step up its digital efforts.    Nordstrom appointed Stacy Brown-Philpot to its board of directors, and she will also serve as a member of the board’s finance and technology committees. She replaces Enrique 'Rick' Hernandez, Jr., who announced earlier this year that he would not be seeking re-election.   

A decade from now, there’s not likely to be a shopping center — a successful one, at least — without click-and-pick meals, several fitness options, and healthy food and beverage purveyors.   That was the take of Phillips’ Edison’s VP of national accounts Michael Conway during a session at the RECon show. Some things all centers will soon provide, according to Conway:  

Although overall sales at Lowe's increased by double digits, the somewhat softer comparable numbers and the decline in net income have taken a little of the shine off first quarter performance.  

Start your engines: Ace Café, a motorcycle and car-themed chain, has parked itself in downtown Orlando.     The 35,000-sq-ft. entertainment, dining and retail destination is the first North American location of the London-based brand and the sixth Ace Cafe in the world. Ace Cafe Orlando spans two floors and features a full-service restaurant, four bars, a coffee bar, a stage, a mezzanine that overlooks the main floor dining area and stage, and private and semi-private spaces for groups.  

Twenty retail executives traveled to the nation's capitol on Wednesday to voice their opposition to the proposed border adjustment tax (BAT).   

Williams-Sonoma Inc. on Wednesday reported better-than-expected quarterly results, fueled by a strong performance at its millennial-targeted West Elm division.    The home furnishings retailer's first-quarter earnings were $39.6 million, or 45 cents a share, compared with $39.6 million, or 44 cents a share, in the year-ago period. On an adjusted basis, the company earned 51 cents a share. Analysts had forecast earnings of 49 cents a share.   

PREIT’s mall-pruning program picked up during the retail real estate industry’s big RECon show.   As the show floor opened in Las Vegas, the Philadelphia-based company announced it had put up for sale Logan Valley Mall in Altoona, Pennsylvania, and Valley View Mall in LaCrosse, Wisconsin. PREIT reported it had received unsolicited interest in these properties and was willing to dispose of them to increase its cash position.