Corporate Governance

Hollister helps lift profit at Abercrombie
Efforts to change its merchandising and branding are paying off for Abercrombie & Fitch Co., which reported a smaller profit and revenue loss than expected in the second quarter.

Abercrombie reported a net loss of $810,000, compared to net income of $12.9 million the same quarter a year earlier. Revenue fell 9% to $817.8 million from $890.6 million. Total company ame-store sales dropped 4%. Abercrombie same-store sales fell 7% and Hollister same-store sales fell 1%, below Wall Street’s expected rate of decline.
Kate Upton ads a boon for Express?
Express Inc. says improved marketing and merchandising measures led to strong profit and revenue performance in the second quarter.

Net income totaled $21 million, compared to $6.9 million, boosted by gross profit resulting from cost of sales growth that was significantly behind the rate of net sales growth.

Net sales increased 11% to $535.58 million from $481.42 million. Same-store sales rose 7% and e-commerce sales grew 21%.

Staples focuses on tech for back-to-school

As it awaits regulatory approval of its acquisition of Office Depot, Staples Inc. is focused on making its stores appealing to students with tech items on their back-to-school lists.

The retailer is offering exclusive student savings with a valid college student I.D. or verifiable .edu email address for online orders.
The Bon-Ton poised for omnichannel growth

The Bon-Ton Stores is opening a new fulfillment center as the retailer looks to cut back on the amount of time it takes to deliver an online order.

The company announced the grand opening of its 743,000 square-foot state-of-the-art direct-to-consumer fulfillment center in West Jefferson, Ohio. The facility, which began transitioning fulfillment operations in June, was designed with the customer in mind and supports the company’s expanding e-commerce business and aggressive omnichannel growth, the company says.
Meijer asks customers to help the hungry

Meijer is recognizing the need to fund hunger programs in the communities it serves with a new promotion.
JCPenney touts its green successes

The J.C. Penney Co. Inc. is in the green again – at least when it comes to taking its sustainability responsibilities very seriously.
Report: Walmart to stop selling some rifles

Walmart plans to stop selling certain types of assault and sporting rifles, the company said on Wednesday.

“There wasn’t a whole lot of demand for those products so we replaced them with products we have seen customers coming into purchase it," Walmart spokesman Kory Lundberg told Fortune.

The move comes as the largest seller of guns and ammunition in the U.S. has been a large part of the national gun debate following recent shootings.
How Target plans to get its mojo back

Target is looking to return to the days when shoppers flocked to its stores for fabulously designed products, thanks to new directon from CEO Brian Cornell.

According to Ad Age, the company is refocused on wooing shoppers once again with a renewed emphasis on design that is "fab and functional," one of Target's core areas where the retailer really stands out in the crowded mass market field.

Read more about Target's design focus by clicking here.
What’s keeping CFOs awake at night?

Chicago -- The nation’s finance chiefs have a lot on their minds these days, from uncertainty in the U.S. economy to cybersecurity to regulatory and compliance issues. Another big concern: Congressional dysfunction around tax reform.
Consumer confidence has sharp rebound in August

New York -- Consumers didn’t let the heat get them down in August.

Consumer confidence rebounded in August, rising 10. 5 points to the strongest reading in seven months after having fallen sharply in July.

The Conference Board said Tuesday that its index of consumer confidence rose to 101.5 in August, up from a revised July reading of 91.0. It was the best showing since January.
The Customer Can’t Always Be Right

Imagine this scenario: You’ve worked hard to build a profitable business and you’ve done it the right way. You’ve taken every step to control the things you can control about every aspect of your company. You’ve got handbook policies regarding equal employment opportunity and prohibiting discrimination or harassment on any basis, and you have a diverse workforce that evidences your commitment to equal opportunity.
Sordid retail drama headed to off-Broadway

New York -- Coming soon: a theatrical spin on the drama surrounding American Apparel and its controversial founder and ousted CEO Dov Charney.

The play, entitled “Unseamly,” is due to make its off-Broadway debut on October 8, at the Urban Stages theatre. The drama, which first ran in Montreal in 2014, was written by Oren Safdie a first cousin of Charney. (Safdie has had several plays produced off-Broadway).