Corporate Governance

Mobile display advertising continues to surge, and it’s on pace to claim a significant portion of online advertising revenue.   In fact, more than three-quarters of all online display advertising income will stem from mobile by 2020, according to data from analytics provider by IHS Markit.  

A week after bringing in advisers to determine how to return the chain to profitability, Hhgregg is preparing to file Chapter 11.  

J.C. Penney is extending its appliance showroom footprint and also delving deeper into the category.        The retailer will expand its in-store appliance showroom concept from its current 500 stores to an additional 100 locations in early 2017, and also add new appliance brands to the merchandise mix, company chairman and CEO Marvin Ellison said on Penney’s quarterly earnings call.    

Regency Centers has promoted 14-year veteran Michael Mas to managing director of finance. In this role, he will oversee capital markets, co-investment partnerships, investor/lender relations, underwriting, and due diligence of new investments and information technology.   Mas was senior VP of capital markets prior to the promotion and earlier directed financial and operational aspects of joint ventures for the Jacksonville-based owner, operator, and developer of grocery-anchored centers.  

Commentary by Neil Saunders, managing director of GlobalData Retail, comments on J.C. Penney’s fourth quarter:     Although JCP ended its fiscal year with a shrink in sales, it can take some comfort from the fact that the decreases are modest and that it managed to outperform its main department store rivals.  

Despite a softer sales environment, Foot Locker reported strong fourth quarter earnings — surpassing analyst estimates.   For the fourth quarter ended January 28, 2017, the specialty athletic retailer’s profits hit $189 million, or $1.42 per share, compared with net income of $158 million, or $1.14 per share in the same period of 2015. This exceeded analyst estimates of $1.31 per share.  

Dalton Street Properties has acquired East Side Plaza, a Michaels-anchored center in Shreveport, Louisiana for $8.95 million. Other tenants at the 78,761-sq.-ft. center include Guitar Center, Dollar Tree and Cato.   “The East Side Plaza sale was a significant win for both parties, allowing the seller to exit a non-focal market while providing the purchaser with a high-quality asset,” said Fred Victor, VP of Transwestern, who brokered the sale on behalf of the seller, Eastside Dunhill.

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Digital transformation is CEOs’ number one priority this year.   To make this a reality, chief executives are investing their capital in the Internet of Things (IoT), big data, robotics, and augmented reality, according to “CEO Viewpoint 2017: The Transformation of Retail,” a report from JDA Software Group and PwC.