Corporate Governance

Mark Tritton, chief merchandising officer of Target, discusses the chain’s holiday strategy of emphasizing low prices as well as highlighting private-brand clothes and splurges for the season in an interview with the Associated Press.  

Canadian outerwear brand Canada Goose, best known for its signature goose-down jacket with fur-trimmed hood, has opened its first-ever U.S. store.   The 4,100-sq.-ft. space is designed to reflect the company’s roots and Arctic heritage. The works of Canadian artisans are showcased throughout the store, which also features gallery-styled displays of vintage pieces from the brand’s archives and a 3,840-pound marble cash-wrap, carved from a single piece of rock and sourced from a quarry in British Columbia.   

The U.S. shopper’s love affair with the off-price channel shows no signs of winding down any time soon.       Ross Stores easily beat analysts’ expectations as its earnings increased 13% in the quarter ended Oct. 29, amid better-than-expected revenue growth and stronger margins.   

Levin Management president Matthew Harding says 2016 has been an especially active year for new retail leases. Over the past nine months, he reports his company handled leasing activity for more than 500,000 sq. ft. — over 400,000 sq. ft. of that in retail.   

PetSmart is working with retail and design consultancy Fitch to develop a new store environment.   The test store will open in Highland Ranch, Colorado, in fall 2007, and will bring a fresh, new and engaging customer experience to the pet retail marketplace, PetSmart said.    

Gap Inc. delivered another weak quarter as store closures outside of North America impacted its profitability and sales continue to slump at its namesake and Banana Republic divisions.   The retailer earned $204 million, or 51 cents per share, in the quarter ended Oct. 29. That compares with $248 million, or 61 cents per share, last year. Adjusted results were 60 cents per share, which matched estimates from FactSet.       

Folks were lined up down the block for the opening of The Lego Group’s largest – and most ambitious – store in the world.  

Abercrombie & Fitch’s efforts to turnaround its struggling namesake brand aren’t finding much traction with shoppers.   The teen apparel brand on Friday said that its profit declined 81% in the third quarter and warned that it expects a challenging holiday season for its namesake banner.     Abercrombie posted net income of $7.88 million, or 12 cents per share, for the quarter ended Oct. 29, down from $41.9 million, or 60 cents per share, in the year-ago period.