Corporate Governance

How many retailers have boasted of record sales and earnings in the third quarter? So far the answer is only one (hint: It hosts a bra and panty show on national television every fall).

More robust omnichannel capabilities have Best Buy CEO Hubert Joly confident about his company’s ability to execute during the holidays, but his views on overall demand for consumer electronics are another matter.

A steep profit decline and deteriorating sales at two of Gap Inc.’s three flagship formats in the third quarter have CEO Art Peck looking ahead to what he expects to be better times.

Martha Stewart has taken her American Made store out of eBay and announced a new partnership with Amazon.com.

Nordstrom is adding some financial expertise to its board with its latest appointment.

The Seattle-based retailer has appointed Gordon Smith, CEO of Consumer and Community Banking at JPMorgan Chase, to the company's board of directors. The addition of Smith brings the total number of directors to 15 and the number of independent directors to 12. Nordstrom directors serve one-year terms and the company requires annual elections of all Board members. Smith will join the Compensation and Corporate Governance and Nominating Committees.

Ollie's Bargain Outlet Holdings Inc. is looking to a Sports Authority executive to fill the newly created position of senior VP of finance and chief accounting officer.

The company has named Jay Stasz to the position, which will report to John Swygert, Ollie's executive VP and CFO.

When it comes to retail rents, Manhattan’s Fifth Avenue is really in a class by itself.

Upper Fifth Avenue, between 49th and 60th streets, is the most expensive retail corridor in the world, with rents rising 3.6% to $3,500 per square foot through the first half of this year, according to an annual report from Cushman & Wakefield. (The top 10 streets are listed at end of article.)

Fifth Avenue rent was nearly double that of the second priciest corridor, Causeway Bay in Hong Kong, at $2,399 per square foot.

Lululemon Athletica has opened its largest store yet, an 11,500-sq.-ft. flagship in Manhattan. The store includes such new features as a 3,000-sq.-ft. community gathering space, called Hub Seventeen, and concierge services, reports New York Business Journal. [New York Business Journal]

How busy is Times Square? Enough to support two Modell’s Sporting Goods stores.

The retailer is opening two new stores in the New York City metro area, including one at 136 West 42nd Street, its second Times Square location. Modell’s is also opening a store at Crossroads Plaza East in Rocky Point, New York.

The two new locations will expand the retailer’s portfolio to 155 stores in 10 states.

Starbucks is the number one retailer employer in the United States when it comes to fostering a happy workplace.

That’s according to a survey by CareerBliss, which analyzed the key factors that impact workplace happiness. Ace Hardware, Ikea, Apple and Barnes & Noble round out the CareerBliss top five.

“The employee reviews on CareerBliss rank Starbucks as the number one retail employer in the United States when it comes to employee happiness,” said Heidi Golledge, co-founder of CareerBliss.