Corporate Governance

Alliance Data’s card services business has renewed its agreement with Restoration Hardware.   Alliance signed a long-term renewal agreement to provide private label credit services for the luxury home furnishings retailer.       

That didn’t take very long.   Industry veteran Paula Schneider, former CEO of American Apparel, has been named chief executive of DG Premium Brands, whose brands include 7 For All Mankind, Splendid and Ella Moss.   Schneider took the reins of the embattled American Apparel in December 2014. She steered the chain through bankruptcy and reorganization and launched an ambitious turnaround strategy. Schneider left American Apparel in early October amid rumors that the company was on the block.

Legendary retailer Mickey Drexler, chairman and CEO of J. Crew, is working with McKinsey & Co. to develop a new business strategy for J.Crew, reported The New York Post.      J. Crew is looking to reverse a two-year slump. In its most recent second quarter, same-store sales fell 8%, the eight straight quarter of declines.   

Rue La La is embarking on a cross-border journey.   Pure-play retailer Rue La La is going international.    The retailer is expanding its reach to members in 219 countries and territories.    By utilizing the Borderfree Retail Platform from Pitney Bowes, the brand can now support a seamless shopping experience internationally, from leveraging local currency to accessing available local shipping services, regardless of where the member is located.

Apple is turning its stores into mini town squares.   The tech giant is redesigning its stores along the lines of its new San Francisco Union Square and London Regent Street locations, Fortune reported. It expects to have 95 stores fully revamped by year end.    

Organized retail crime does not discriminate.      In a unanimous finding, a full 100% of retailers reported that their companies had experienced ORC in the past year, up from 97% in 2015, according to the 12th annual ORC study released by the National Retail Federation. It is the first time in the survey’s history that all responding companies reported being a victim.     

Gap to shut all Banana Republic stores in the U.K.   Shoppers in the United Kingdom will soon be able to buy Banana Republic merchandise only via the chain’s website.   Gap Inc. plans to close all eight of its Banana Republic stores in United Kingdom by the end of its fiscal year, Bloomberg reported.    In May, Gap announced that it planned to shut about 75 stores across its Old Navy and Banana Republic brands, with most of the closures overseas.

The surge in home improvement projects is helping fuel sales at The Tile Shop.    Tile Shop Holdings Inc. on Tuesday reported third-quarter profit of $4.6 million for the third quarter, ended Sept. 30. Earnings, adjusted for non-recurring costs, came to 10 cents per share.   The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.