Corporate Governance

Michaels crafts a successful growth strategy
Michaels says its new marketing and merchandising strategies are resonating with customers, as the arts and crafts retailer reported an uptick in same-store sales for the third quarter.

The retailer said comps increased 3.1% in the period ended Oct. 31. Sales rose 3.4% to $1.17 billion. The company posted a profit of $76.8 million, or 37 cents per share, compared with $64.1 million, or 31 cents per share a year prior.
A surging American Eagle Outfitters names CEO—finally
Everything old is new again at American Eagle Outfitters, apparently with good reason.

The teen apparel retailer on Wednesday named Jay L. Schottenstein as CEO, effective immediately. Schottenstein, who has served as interim chief since January 2014, will also continue in his role as executive chairman of the board. The news of his appointment came as the retailer reported a strong increase in its third quarter earnings. It was the chain’s third consecutive quarter of increased sales and profits.

Retail CEOs fear rising costs from climate change

The chief executives of H&M, Gap Inc. and five other apparel companies are urging world leaders to agree to a strong climate change deal.

The leaders say they fear global warming will drive up their costs by having a negative impact on cotton production, Reuters reported.

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Sears still can't stop sales skid

Sears Holdings Corp. is doing a much better job at cutting costs than at stopping its sales decline.
American Express adds Dollar General, Rite Aid as card reload providers

American Express Serve announced this week that it and Rite Aid and Dollar General had joined forces to allow American Express Serve account holders to add money to their cards at the retailers’ locations around the country.
Lands' End still trying to turn itself around

The CEO of Lands End says the challenging retail environment and unseasonably warm weather did not help the company's turnaround plan in the third quarter.

The online apparel retailer said that for the period ended Oct. 31, net revenue was $334.4 million, compared to $373.1 million in the third quarter last year. Net income was $10.7 million, compared to $18 million in the third quarter last year.
Kroger extends its winning comp streak

The nation’s largest supermarket operator reported profit that surpassed Wall Street expectations and raised its annual forecast.
This mall retailer is still on a roll

Express continues to make all the right moves, reporting better than expected results for its third quarter and raising its 2015 outlook.
Saks expands off-price north of the border

Saks Fifth Avenue Off 5th continues to expand north of the border.
A strong quarter and new CFO for Dollar General

Dollar General Corp. missed Wall Street projections for sales in its third quarter, but the chain came out on top again in its earnings. It also named a permanent CFO.
A gorgeous third quarter for Ulta Beauty

Ulta Beauty's formula of one-stop shopping for prestige, mass and salon beauty products continued to produce impressive sales growth in the third quarter.
A surging American Eagle Outfitters names CEO — finally

Everything old is new again at American Eagle Outfitters, apparently with good reason.

The teen apparel retailer on Wednesday named Jay L. Schottenstein as CEO, effective immediately. Schottenstein, who has served as interim chief since January 2014, will also continue in his role as executive chairman of the board. The news of his appointment came as the retailer reported a strong increase in its third quarter earnings. It was the chain’s third consecutive quarter of increased sales and profits.