Corporate Governance

Athletic giant adidas has opened a giant of a flagship, on the corner of Fifth Avenue and 46th Street in Manhattan. The four-story, 45,000-sq.-ft. store is the brand’s largest location in the world.    The new space marks the debut of adidas’ stadium retail concept, which is inspired by high school stadiums and celebrates creativity in sport. The store features a tunnel entrance, stands for live-game viewing on big screens, locker room-styled dressing rooms and track and turf sections where customers can try out products.

Visa’s new acquisition promises consumers more digital security when making payments on their laptop, mobile app, or connected device.   Visa is acquiring e-commerce payment authentication provider CardinalCommerce, a move that will enable the card issuer to deliver shoppers more secure, seamless digital payments, and help accelerate digital commerce. While Visa did not disclose financial terms of the transaction, the deal is expected to close in Visa’s second fiscal quarter 2017.  

Move over Lululemon and Athletica, Sweaty Betty is moving onto your turf.   The London-based retailer of stylish activewear for women opened its ninth U.S. store — and third location in the Los Angeles area — on Melrose Ave. in West Hollywood, reported The Los Angeles Times, with a location in San Francisco up next.  

Express reported a drop in third-quarter profit and slashed its full-year adjusted earnings outlook, warning that the holiday season will "remain challenging."   In recent days, an array of apparel retailers have expressed caution about the holiday selling season, including Gap, Abercrombie & Fitch  and American Eagle Outfitters.    Express earned $11.6 million, 15 cents per share, for the quarter ended Oct. 29, down from $26.3 million, or 31 cents per share, a year earlier.

One of many things that reaches a frenetic pace during the holiday season is social media activity, with brands ramping up promotions, suggestions and other communication to their followers. Aside from the fact that 23% of the world’s population — yes, 1.7 billion people — visit their Facebook profiles every month, the brands with the best social media presence are reaching upward of 40 million consumers.   

Howard Schultz is leaving his post as CEO of the company he built into a global coffee empire, but he’s not retiring.   Schultz will step down as CEO of Starbucks Corp. on April 3, at which time he will be appointed executive chairman and shift his focus to the company’s new upscale initiatives — the design and development of Starbucks Reserve Roasteries around the world and the expansion of the Starbucks Reserve retail store format — along with its social impact programs.     

J.C. Penney is often associated with an older shopper demographic. But its comeback is being fueled, at least partially, by a surprising group.    Millennial moms now account for 45% of Penney's revenue, CNBC reported, and the group is also driving much of the growth in the company's sales and customer count.   

Reductions in food-stamp benefits and falling grocery prices took a toll on Dollar General Corp.’s third-quarter performance which came in below expectations and included an unexpected drop in same-store sales.   The company reported a profit of $235 million, or $0.84 per diluted share, in the quarter, compared to net income of $253 million, or $0.86 per diluted share, in the year ago period. Its profit included a charge of about 5 cents per share for store relocation costs and disaster-related expenses.