Corporate Governance

Staples is getting into the licensing game as a means of expanding its brand. It’s first target — document storage.  

Starbucks isn’t the only company that has big plans for China.   New Look, the British apparel retailer, is looking to expand to 500 stores over the next three years in China, Fortune reported. It currently operates a total of 850 stores globally, with 95 locations in China.  

Round One, Japan’s answer to Dave & Busters, announced it will open its first New York State location at the Galleria at Crystal Run in Middletown.    The entertainment brand offers bowling, karaoke, billiards, and darts, as well as food. Other new locations in Colorado, Georgia, and Pennsylvania will bring its U.S. store total to 14. Round One spaces are generally 80,000 sq. ft.; the Middletown store will be only 45,000 sq. ft.  

Skechers’ third quarter results came in below estimates as the company said it would continue to focus internationally for growth.   The Manhattan Beach, Calif.-based brand’s net income fell 2.2% to $65.1 million, or 42 cents per diluted share, which was below forecasts for diluted EPS of 47 cents. Skechers said its diluted EPS were negatively impacted by foreign currency translation and exchange losses.  

Walmart has made another big e-commerce investment in China.   On the heels of launching three major e-commerce initiatives in China, Walmart will invest $50 million in New Dada — China’s largest local on-demand logistics and grocery online-to-offline (O2O) e-commerce platform.  

The use of cash remains strong among in-store shoppers.   That’s according to a new survey by Cardtronics, in which 89% of consumers report using cash in the past six months to pay for merchandise in a physical store.    Cash was followed by debit cards, used by 74% of consumers in the last six months, and credit cards, used by 66% of consumers. Eighteen percent of consumers reported using store mobile apps to pay for something in the last six months, and 17% used a mobile wallet. 

Saks Fifth Avenue has opened its first standalone store dedicated exclusively to footwear.  

Sheetz just added a new item to its assortment — an app-based delivery service.    Through a partnership with OrderUp from Groupon, an on-demand restaurant food-delivery service, Sheetz now features a mobile ordering program for food and beverages. The service, which is available in its Morgantown, W.V., and State College, Pennsylvania, locations, allows shoppers to place orders and have them delivered to their doorstep.