Corporate Governance

Tourneau gets with the times
For luxury watch retailer Tourneau, brick-and-mortar historically took precedence over online operations.

The New York-based retailer is known for having long-tenured associates with deep knowledge. This emphasis on the in-store experience often left digital commerce overlooked among the company’s strategic priorities.

However, recognizing that the modern consumer now expects a seamlessly blended experience that crosses the physical and digital channels, Tourneau is entering the omnichannel world with help from Demandware.
Children’s Place listened to shareholders, makes changes
Following a contentious exchange with a large shareholder in 2015, Children’s Place is changing a key provision of its bylaws that allows investors to nominate directors and allowing a vote on several other measures shareholders identified as concerns.

Pep Boys hears the voice of Instagram users

“Listening” on a visual platform such as Instagram might seem like an oxymoron, but there is no paradox in Pep Boys’ success in this endeavor.
Amazon reports happy holiday for sellers

Some of the details are vague, but businesses and individuals selling items via Amazon.com experienced a generally successful holiday season.

According to figures released by Amazon, more than 23 million items were ordered worldwide from sellers on Amazon on Cyber Monday, a more than 40% increase year-over-year. Use of the Amazon Sponsored Products targeted advertising service by sellers grew more than 100%year-over-year worldwide. Clicks on Sponsored Products in the U.S. grew by more than 200% from the previous holiday season.
KKR makes Midwestern retail move

Global investment firm KKR’s name is usually associated with large deals, but that’s not the case with it latest acquisition of a small Midwestern chain that looks a lot like Tractor Supply.
Vans shows fancy footwork on customer engagement

VF Corp.’s footwear, apparel and accessories brand Vans is capitalizing on one of the hottest trends in retail at its 450 stores and online.
Drug store chain names CEO

Pharmaca Integrative Pharmacy on Monday named Richard Willis as the company's president and CEO. He will also serve as a director of the company.
C-store company adds 62 stores

Circle K Stores Inc., a division of Alimentation Couche-Tard, has purchased 62 convenience stores in nine states from Dallas-based Greatstone Equities Inc., according to the Greater Baton Rouge Business Report.

The deal includes locations in Arizona, California, Florida, Louisiana, Nevada, New Mexico, North Carolina, Texas and Washington, the report said.
Soft Surroundings Pampers Customers as it Expands Store Network

Photo: ColorTek - Studio C, St. Louis
Walter Loeb: Retailers must restructure in 2016

Restructuring will be key to retail survival in 2016, according to veteran retail analyst Walter Loeb, who is worried about the future profitability of many leading traditional retailers as the year gets underway. “They are losing sales productivity in their stores while expenses rise and management bureaucracy grows,” Loeb wrote in an article on Forbes.com. [Forbes.com]
Restaurant chain to add 33 new locations in California

Sonic Drive-In is expanding its footprint in the Golden State.

The company signed franchise agreements to open a total of 33 new drive-ins in the state of California over the next seven years.

The 33 drive-ins are planned for multiple markets across the state: 11 in Sacramento; 12 in the San Francisco Bay Area; three in west Los Angeles; five between Bakersfield and Stockton and two in the Palm Springs area.
Rite Aid December sales flat at $2.2 billion

Rite Aid last week reported a same-store sales decrease of 0.1% for the four weeks ended Dec. 26. December front-end same-store sales increased 0.8% while pharmacy same-store sales, which included an approximate 207 basis points negative impact from new generic introductions, decreased 0.6%.

Despite the report of relatively flat sales, Rite Aid stocks were up on Dec. 31, reaching a peak of $7.89 for the day. Today, the stock is trading at $7.86, up slightly from the day's open of $7.84.