Corporate Governance

J.Crew Group is in a reorganization mode as it look to better position itself for growth.   The apparel retailer announced several strategic changes across its organization, including reducing headcount. Approximately 150 full-time and 100 open positions are being cut, mostly from corporate headquarters.     

Always in search of more efficient, cheaper delivery methods, Amazon is exploring a new avenue.   The online giant has created a think tank that is evaluating how driverless vehicles could improve package delivery speeds, according to NewsMax.   The group, which is comprised of 12 members, began brainstorming on the initiative more than a year ago. However, the group is not designing a fleet of driverless vehicles.   

April's consumer confidence metric didn't live up to the new benchmark established in March, when consumer confidence reached a 16-year high.   This month, the Index declined to 120.3 from 124.9 in March.  

A home improvement start-up with a green conscience is expanding out of its Austin, Texas, hometown.    TreeHouse will open the nation’s first-ever net-zero energy store on June 1, at The Hill, a shopping center in Dallas. The store will be the retailer’s second location, but not for long. An additional store, planned for the Plano area, is due to open this fall.   

Rite Aid managed to best analyst forecasts for the fourth quarter even as its chairman and CEO noted that "the extended duration of the merger process" with Walgreens Boots Alliance is "having a negative impact" on the company's results.    Rite Aid’s revenue rose a better-than-expected 2.7% to $8.5 billion in the quarter. Same-store sales fell 3.0%, consisting of a 4.3% decrease in pharmacy sales and a 0.3% decrease in front-end sales.  

Deckers Brands announced on Tuesday is it reviewing strategic alternatives, including a possible sale.   The decision comes as the company said it has made “significant progress” in streamlining its cost structure, optimizing its retail store fleet, and realigning its brands to improve profitability. Deckers portfolio includes the popular footwear brands Ugg and Teva.  

Albertsons Cos. on Monday appointed the president of its Jewel-Osco division, Mike Withers as  executive VP, retail operations, Albertsons.   Withers will lead the company's East Region operations, while current executive VP, retail operations Susan Morris will lead the West Region. Jim Perkins, executive VP, retail operations Special Projects, is focused on targeted initiatives to accelerate growth. All three executives will continue to report to Wayne Denningham, president and COO, ALbertsons.  

Artificial intelligence (AI) is increasingly topping IT wish lists as a means of improving business decisions and providing personalization.   That’s according to a new report from PwC, “Bot.Me: A Revolutionary Partnership.” The study, surveyed consumers and business decision makers on AI’s impact in the business world, the evolution of AI acceptance by consumers and AI’s changing role in addressing socioeconomic issues.