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Corporate Governance

  • Report: Is ‘Apple Cash’ on the horizon?

    Apple may be the next company to provide a money-transfer service.   Sources said Apple has recently held discussions with payments industry partners about introducing a program that would allow iPhone owners to send money to each other digitally, according to ReCode.   If Apple’s plan pans out, its service will rival offerings from big U.S. banks, as well as PayPal, its millennial-popular subsidiary Venmo, and Square Cash, the report said.  

  • Teen apparel chain improves leasing efforts

    A new accounting standard is pushing Tilly’s to get a better handle on its lease administration.   The new accounting standard, FASB ASC 842, requires non-governmental companies to include lease obligations on their balance sheets. To avoid a compliance burden, the teen apparel retailer will use software from Accruent to manage leases for its 222 stores.   

  • Iconic footwear brand in deal to expand worldwide

    Authentic Brands Group has taken a 51% stake in Frye, one of the nation’s oldest footwear brands, with an eye to expanding its footprint.   ABG will co-own the brand in partnership with Global Brands Group Holding Limited, from whom it acquired the stake. This is the first time ABG and Global Brands, who have had a long history of collaboration, co-own a brand.   

  • Retail Group make case for swipe fee reform

    The National Retail Federation brought added attention to its stance on debit card swipe fee reform at a Congressional hearing on Capitol Hill.    According to the NRF, reform has saved merchants and consumers more than $40 billion -- which is why the association is asking that it be protected.  

  • Ace Hardware streamlines East Coast distribution operations

    In a major restructuring of its eastern U.S. distribution network, Ace Hardware Corp. intends to open a new 1.1. million-sq.-ft. Retail Support Center in Pennsylvania while closing a handful of other facilities.   The moves will play out over the next 24 months.  

  • Amazon blows past earnings forecasts

    Amazon on Thursday posted its eight straight quarter of net profitability, fueled by growth in e-commerce sales and its lucrative cloud service platform, Amazon Web Services.   Amazon easily topped earning expectations for its first quarter, ended March 31, reporting $1.48 per share, above the $1.12 Wall Street expected. Net income rose to $724 million from $513 million in the year-ago period.  

  • Barnes & Noble names new CEO — its fourth in four years

    Barnes & Noble has ended its quest for a new chief executive with an in-house promotion.   The struggling bookseller named Demos Parneros as CEO, effective immediately. Parneros, who has served as COO of Barnes & Noble since November 2016, is a longtime Staples veteran. Prior to joining Barnes & Noble, he was president of North American stores & online for the office supply giant.  

  • Target extends solar commitment with two innovations

    Target Corp. is extending its progress to renewable energy and making progress on its goal to have 500 buildings with rooftop solar panels by 2020.   
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