Corporate Governance

Based on its third quarter earnings, Carter’s predicts that is on its way to its 28th consecutive year of sales growth.   The brand specializing in babies and young children’s apparel and accessories reported a net sales increase of 6.1%, totaling $901.4 million. The company credits this growth on its U.S. Carter’s and OshKosh retail businesses, Carter’s wholesale business, and international segment.  

Despite gains in the third quarter, Amazon’s stock fell 6% in extended trading.   The pure-play retailer’s net sales increased 29% to $32.7 billion for the third quarter ending Sept. 30, 2016, compared with $25.4 billion in third quarter 2015. The company credits the jump to $52 million in year-over-year changes in foreign exchange rates throughout the quarter.  

GNC had higher expectations for its third quarter earnings.   The nutritional supplement retailer reported revenue of $628.0 million, a decrease of 8.1% compared with $683.4 million for third quarter 2016, ended Sept. 30, 2016. Similarly, GNC’s net income of $32.4 million dropped compared with $45.8 million in third quarter 2015.  

Boxed.com, the online wholesale shopping club with no membership fees, on Thursday named former Sam's Club executive Heather Mayo the company's chief merchandising officer.     Mayo will lead the development and execution of all merchandising strategies and initiatives, and will be responsible for delivering the optimal product assortment as dictated by the brand's strategy and unique target customer profile.  

Clarks Americas has moved its head office to a historic location that provides employee- and eco-centric amenities.   After setting up shop in Newton Upper Falls for nearly 18 years, the footwear brand has moved into the historic Polaroid building in Waltham, Mass. The 120,000-sq.-ft., four-story office houses Clarks’s design and marketing operations, and retail and wholesale business support — divisions that are comprised of more than 400 employees.   

Boot Barn’s second quarter performance rose slightly, meeting Wall Street estimates.    The western-influenced specialty retailer reported $134 million in revenue for the second quarter ending Sept. 24, 2016, a 3.3% increase from $129.7 million in the prior-year period. This jump also exceeded Wall Street’s estimate of $131.61 million. Boot Barn credited the increase to 13 new stores opened over the past 12 months, and a 1.8% increase in same-store sales. Two of those stores opened the chain during the second quarter.

Boohoo.com, the England-based, low-priced fashion Web retailer, will be opening its first brick-and-mortar store in Manhattan’s Union Square neighborhood.   An opening date has not been set, but Cushman & Wakefield reported it has secured the retailer a lease for a 2,000-sq.-ft. space at 3 West 13th Street.  

The nation’s largest online retailer has big plans for brick-and-mortar expansion.