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Corporate Governance

  • Gifting retailer’s Q3 revenues slip

    While sales across floral divisions were strong, a late Easter impacted 1-800-Flowers.com’s third quarter revenues.    For the quarter ended April 2, 2017, revenues were $233.7 million, a slight dip compared to $234.2 million in the prior year period. This reflects lower year-over-year profits across the Gourmet Food and Gift Baskets divisions due to the Easter holiday shifting into the company’s fiscal fourth quarter this year.  

  • CVS profit declines but still beats Street

    CVS Health Corp. reported lower profit in its first quarter amid pressure by more generic drugs and softer customer traffic.    Net income for the three months ended March 31 decreased 16.9% year over year to $953 million. CVS said the decline was primarily driven by the decline in operating profit, partially offset by lower interest expense of $31 million related to refinancing activity in the prior year as well as the improvement in the effective income tax rate, from 39.4% to 37.3%.    

  • Washington Spotlight: May Day Becomes International Day of Anger

    Monday's May Day demonstrations across the country and world are yet another reminder that we are in a politically precarious position in this country. The intensity of anger within our populace far outweighs the ability of our government mechanisms to address it.  

  • CBL sells outlet center for $130 million

    The Outlet Shoppes at Oklahoma City was acquired this week by an unnamed buyer, reported CBL & Associates, which co-owned the center with Horizon Group Properties.   "The Outlet Shoppes at Oklahoma City was the first project we developed with Horizon and has been a huge success,” said Stephen Lebovitz, CBL’s president & CEO. “We are pleased to demonstrate the value of our outlet portfolio and provide additional liquidity to reduce leverage and help fund our redevelopment program."  

  • Nine West exec to head up IT at department store chain

    The Bon Ton Stores has a new technology leader.   Norm Veit has joined the company as executive VP, CIO, responsible for the chain’s IT strategy and operations.   Veit bring more than 35 years of experience to Bon-Ton, having held a variety of leadership roles in retail companies throughout his career. Most recently, he served as CIO and executive VP, distribution, real estate and facilities for Nine West Holdings, Inc.   

  • Department store giant on hunt for a CFO

    Hudson’s Bay Company is losing its finance head.   The retailer said that CFO Paul Beesley has made the decision to resign in order to return home to Canada to be closer to his family. Beesley will continue in his role over the next two months to ensure a smooth transition. His last day with HBC will be July 7. HBC has engaged an executive search firm to assist in recruiting a new CFO.  

  • Men’s grooming concept has big plans for growth

    A men’s grooming shop that provides hand and foot care, haircuts and shaves in a “man cave nirvana” has ambitious designs for expansion.   

  • Bankrupt games and puzzle retailer acquired

    The company responsible for last year’s hottest holiday toy has bought Marbles: The Brain Store.   Toronto-based Spin Master Corp., creators of hit toy Hatchimal, said its purchase of Marbles builds upon Spin Master's increased presence in the games and puzzles category. Under the terms of the sale, Spin Master will acquire the company's brand name, e-commerce business, portfolio of games and other assets.    
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