Corporate Governance

The CEO of 99 Cents Only pointed to the promise of a new executive team as evidence that the company can return to profitable growth even as it reported disappointing third quarter results.

The company said for the period ended Oct. 30, the company's net sales increased 2.8% to $491.5 million, compared to $478.3 million in the prior year. Same-store sales decreased 3.9% due to challenges in produce and consumables sales, the cannibalization impact of recent new store openings as well as ongoing initiatives to clear excess seasonal inventory, the company said.

Despite the mixed outlook for holiday sales, the private equity community remains interested in retail, believing that the sector can offer the opportunity to achieve scalable growth.

Callison and RTKL have officially joined forces as CallisonRTKL.

The firm announced several senior-level appointments to launch its next level of growth:

Eric Lagerberg (New York) has been named executive VP and will serve as global practice group leader for retail stores and regional director of North America for CallisonRTKL.

Hip eyewear retailer Warby Parker continues to put down roots in Nashville.

Last year, the company opened a local corporate office in the city (its first outside of its New York City home base) and, more recently, opened a store at Nashville’s Edgehille Village. The storefront is open and provides full visibility into the interior. It is designed as an inviting outdoor space with native plants and landscaping.

The instability in the executive suite at Barnes & Noble continues, as the retailer has named a new CIO just months after installing a new chief digital officer.

The retailer has named William Wood as its new CIO. Wood comes from EZCORP Inc., where he also served as chief information officer. He will report directly to Ron Boire, CEO.

Oak Brook, Ill. -- InvenTrust Properties Corp. announced the appointment of Lance W. Billingsley as senior VP of leasing. Billingsley will oversee the leasing of the Company’s retail portfolio and manage leasing teams based in Dallas, Houston, Atlanta and Oak Brook, Illinois.

Fort Worth, Texas -- Trademark Property Co. announced new public art programs underway at the developer’s two Fort Worth, Texas properties, Waterside and WestBend. The art programs are intended to support Fort Worth culture and arts through historical tributes and commissions by local artists. They are a part of Trademark’s Conscious Place initiative; a stakeholder driven development model that aims to ensure that its properties are more than just places of commerce, but also places of community and meaning.

Plymouth Meeting, Pa. -- PREIT will begin construction next summer on LEGOLAND Discovery Center Philadelphia at Plymouth Meeting Mall in Plymouth Meeting, Pennsylvania. The 33,000 sq. ft. attraction, is a unique indoor attractions based on the popular LEGO brick, designed for families with children aged 3-10.

It’s no secret Amazon.com counts Google and Apple as two of its biggest competitors for general online domination. According to Motley Fool, Amazon is expanding a specific benefit of its Prime paid loyalty service intended to both boost membership and stay current with Google and Apple’s consumer offerings. [Motley Fool]

Tuesday Morning Corp. has selected the chairman of its board to be the off-price retailer's next chief executive, ending a search that began in September.

Steven R. Becker becomes the Texas-based retailer's next CEO, effective immediately. Becker has led Tuesday Morning's office of the chairman since Sept. 28, when the Dallas-based retailer’s previous CEO, Michael Rouleau, announced his retirement. Previously Becker had served as the company's chairman of the board since 2012.