Corporate Governance

What’s wrong with Five Below?
A rapidly expanding retailer led by a former top Walmart executive is supposed to produce strong same store sales growth, leverage expenses and increase profits. So why isn’t Five Below?

Joel Anderson’s tenure as CEO of value priced retailer Five Below (where everything cost less than $5) is off to an uneven start. The company is achieving its profitability targets, but doing so with productivity improvement in its selling space that is surprisingly weak given the newness of its store base.
Ikea to open its largest store in U.S. in 2016
Ikea will open the largest Ikea store in the United States in Burbank, Calif., next year.

The new store, on 22 acres along Interstate 5 in Burbank, be 456,000 square feet (the biggest Ikea in the world, at 594,000 square feet, is in Stockholm). Plans include parking for 1,700 cars, "improved access and parking and a larger warehouse space," plus "50 'inspirational room-settings,' three model-home interiors, a supervised children's play area and a larger restaurant for serving Swedish specialties."

PetSmart says 'Happy Gotcha Day'

PetSmart is throwing a celebration at its stores that aims to appeal to pet owners and people who want to be pet owners.

For the first time, PetSmart will throw a “Happy Gotcha Day” celebration to help find homes for about 15,000 homeless pets during the next PetSmart Charities National Adoption Weekend, Sept. 11-13, when more than 1,400 PetSmart stores will host the event in the U.S., Canada and Puerto Rico. The thousands of pets with unknown birthdays that are expected to be adopted will now have a day to call their own.
Retail solutions showroom now open in Philly

As the demand for differentiation grows among retailers and suppliers, Daymon Worldwide’s Omni Global Sourcing Solutions has opened a new showroom to allow customers access to in-demand seasonal and general merchandise imports.
Report: Apple reveals new retail store design

Apple is about to embark on a whole new path when it comes to the design of its retail stores, starting with its next project in Memphis, Tenn.

According to the Memphis Daily News, Apple’s new location at the Shops of Saddle Creek mall in Germantown will see several departures from the company’s traditional retail look and feel, with the facade set to feature “a matte granite reinforced panel on the exterior wall," among other differences.
Net-A-Porter loses its public face

The founder and chairman of U.K.-based online luxury retailer Net-a-Porter has unexpectedly resigned from the company ahead of a merger with another e-commerce group.
Sam's Club seeks to beat Costco on car shopping

Sam's Club is taking on Costco in the auto buying program business by teaming up with one of the biggest names in car-shopping in an effort to boost its auto business.

The all-new Sam's Club Auto Buying Program will now be powered by TrueCar, Sam's Club announced Thursday. Sams Club says members will have access to more than 10,000 TrueCar Certified Dealers nationwide, more than three times the nearest competitor in the warehouse club channel (i.e., Costco).
Why Costco may be the envy of Walmart

Despite reporting ho-hum sales for July, Costco said Thursday that its comps for the fourth quarter and fiscal year were up an impressive 6%.
CVS Health marks anniversary of no tobacco

A year after deciding to end tobacco sales, CVS Health on Thursday released new data from a CVS Health Research Institute study that shows a reduction in cigarette purchases over the past year.
Pharmacy sales give Fred's a boost

Fueled in part by increased pharmacy sales, Fred’s reported Thursday that its August sales hit $165.6 million this year, up 12% over August 2014.
Genesco takes the Lid off sales in Q2

The CEO of Genesco Inc. says the company had strong sales despite the later start to the back-to-school season and some pressures to right-size inventories.
Hillside Village multi-million dollar renovation is underway

Cedar Hill, Texas -- Trademark Property Co. announced that it has broken ground on its multi-million dollar renovation of Hillside Village, formerly Uptown Village at Cedar Hill, located in Cedar Hill, Texas.