Corporate Governance

Bigcommerce prepares new environment for new year
Online shopping platform Bigcommerce has some big plans for enhancing the capabilities it offers retailers.

Bigcommerce has signed a strategic partnership with design firm Pixel Union that includes plans to deliver a re-architected, modern storefront development framework in first quarter 2016. The new development framework offers features including a local development environment, the ability to develop with a live store catalogue, and rapid preview and editing capabilities.
Schnucks Markets names new chief merchant
Schnucks Markets on Monday named industry veteran Mark Doiron its new chief merchant. Doiron, who has more than 25 years of experience in the food and grocery industries, will be responsible for procurement and merchandising throughout Schnucks’ 99 supermarkets. He serves on the company’s senior management team and reports to Schnucks chairman and CEO Todd Schnuck.

Target phases out Pharmacy Rewards program

This month, Target began contacting its Pharmacy Rewards members to informing them that the company was ending the rewards program because CVS/pharmacy will bring its own program when it replaces the pharmacies in Target stores as part of a deal between the two companies announced this summer.
New Filters for Hiring CEOs in 2016

I remember something a retailer once said to me more than 25 years ago, long before digital mattered. It’s still true today: if the product’s not right, nothing matters. If the product is right, everything matters. That everything now includes staying ahead of the consumer digitally. We’ve gone from a generation that saw technology as a skill, to one that doesn’t see it at all – it’s so natural it's become instinct. This shopper lives in a world where digital doesn’t just define shopping habits - it defines the way they live.
Perfumania has a stinky third quarter

The value proposition of Perfumania stores is under scrutiny after the retailer reported dismal same store sale for the third quarter.

For the 13-week period ended Oct. 31, net sales at Perfumania decreased 8% to $142 million, compared to $154.3 million in the prior year. Same store sales decreased 22.1%. Net income was $3 million, or net income per diluted share of 20 cents, compared to a net income of $7.5 million, or a net income per diluted share of 48 cents during last year’s third quarter.
Valeant extends savings in new fulfillment agreement with Walgreens

Valeant Pharmaceuticals is forming new fulfillment agreements with Walgreens while indicating it intends to extend this distribution model to additional participating independent retail pharmacies.
Doing well by doing good
Focused on flawless, Toys “R” Us ready for stretch run

With the financial picture improving modestly at Toys “R” Us, CEO Dave Brandon said the company is ready to build on third quarter successes during the final days of the holiday season.
Neiman Marcus hit by department store slump

The strong dollar’s influence on tourism and store traffic led the Neiman Marcus Group to report a decline in same-store sales for the first time in six years.
Store closing sales have begun at iconic Kitson

Boston -- Gordon Brothers Group and Hilco Merchant Resources announced that the companies will be managing the stores closing process, which has begun, for Los Angeles-based, Kitson, at all 17 locations throughout California, Oregon, and Nevada. Sales are offering discounts of up to 50% on all of the fashion apparel, gifts and novelty merchandise. Store fixtures, furniture and equipment will also be available for sale.
Destination Maternity rejects takeover bid

Destination Maternity Corp. has turned down an offer from a French company that disclosed a 13.1% stake in the U.S. company, according to a Securities and Exchange Commission filing Monday.

The nation’s largest retailer of maternity apparel rejected an offer from children’s clothing company Orchestra-Premaman, which manufactures clothing for children and infants, saying the request for talks regarding a potential acquisition were not in the best interests of Destination Maternity shareholders.
Konover South closes $2.25 million, 4.43-acre land purchase

Stuart, Fla. -- Konover South announced the acquisition of 4.43-acres of land for its new 30,587-sq.-ft. Stuart Landings retail center in Stuart, Florida, for $2.25 million.

The center will be located at SE Federal Highway and SE Miami Ave., which shares U.S. 1 access with an adjacent Walmart Supercenter. Stuart Landings will feature a 17,837-sq.-ft. Aldi, a 3,500-sq.-ft. Aspen Dental with additional lease negotiations underway.