Corporate Governance

Westfield adds tech talent to make mall digital
Mall owner Westfield Corporation has created a new big data and analytics unit and made a key hire to oversee the important function.

Westfield named Raghav Lal as its new chief data and analytics officer to lead a newly established big data and analytics group that will be responsible for conceptualizing, developing and deploying the company’s data strategy. The move is a significant hiring investment to centralize the company’s wealth of data effectively, efficiently and safely for its customers and retailers alike, Westfield said in a statement.
J.C. Penney letting go of 300 at HQ
Headquarters layoffs are spreading throughout the retail industry with J.C. Penney joining Walmart and Dollar General in making deep cuts to its non-store workforce.

The department store retailer on Thursday said it planned to cut 300 of its 3,400 home office positions to reduce expenses and achieve financial targets.

What the future of product safety looks like

Shoppers will take for granted that the products they buy are safe this holiday season, but behind scenes it requires a tremendous amount of effort to deliver on that expectation. Join Walmart, the Consumer Products Safety Commission and ICIX for a look at what’s next in the world of product safety during an upcoming webinar on Nov. 13 at 1 p.m., EST.
Report: Three Biggest Takeaways from Amazon’s impressive third quarter

Amazon surpassed analysts’ expectations on Thursday, posting a 23% increase in revenue and its second consecutive quarterly profit. But according to a report by The Street, Amazon’s fast-growing cloud services business was the biggest story, bringing in $2.1 billion in revenue for the quarter. [The Street]
Former Bon-Ton, Lord & Taylor CEO takes top spot at luxury brand

A veteran retailer has taken the reins at Vince, a leading-edge contemporary fashion label and retailer.

The company named Brendan L. Hoffman as CEO, effective immediately, replacing interim chief. He is the former chief executive and president of The Bon-Ton Stores Inc, a position he held from February 2012 to August 2014. Prior to that, Hoffman was CEO and president of Lord & Taylor.
Nike, East Los Angeles

Nike has brought its “community store” concept to California, opening a 19,000-sq.-ft.-plus location in East Los Angeles.
Hay Creek Shops open first phase of development

Bismarck, N.D. -- The Woodmont Company and Northwest Contracting announce the completion and opening of the first phase of development of Hay Creek Shops in Bismarck, North Dakota. Hay Creek Shops is a regional power center on 33 acres that once complete will total more than 300,000 sq. ft. of retail and restaurants.
1.2 million sq. ft. mixed-use Liberty Center opens in Cincinnati

Cincinnati -- Steiner + Associates and Bucksbaum Retail Properties opened their highly anticipated 1.2 million sq. ft. Liberty Center in Cincinnati. Liberty Center is one of the largest mixed-use projects to open in the U.S. this year.
Staples founder Tom Stemberg has died

One of the retail industry’s true innovators, Staples co-founder Tom Stemberg, passed away on Friday at the age of 66. 
Report: Struggling grocer turning out the lights

Fresh & Easy, which opened its first store in 2007 and was U.K. giant Tesco’s first U.S. venture, is closing its stores, the Los Angeles Times reported. The chain, which was never able to gain a foothold in the competitive U.S. grocery market, filed Chapter 11 in 2013, and was acquired by grocery billionaire Ron Burkle's Yucaipa Cos. with a loan from Tesco. [Los Angeles Times]
Prime Power: Amazon’s sales surge ahead of holidays

Amazon.com’s third quarter sales increased 23% to $25.4 billion and the online retailer and tech giant posted a huge improvement in profitability.

The company said operating income increased to $406 million in the third quarter ended Sept. 30, compared to an operating loss of $544 million in third quarter 2014. Net income increased to $79 million, or 17 cents a share, compared with net loss of $437 million, or 95 cents a share, the prior year.
Lumber Liquidators pleads guilty, pays fine

A federal investigation related to Lumber Liquidator’s illegal timber trafficking has ended with a guilty plea and some damning statements by prosecutors.