Corporate Governance

Sycamore Partners to buy Belk for $3 billion
Private equity firm Sycamore Partners is adding a department store to its growing portfolio, which includes such brands as Aeropostale, Jones New York and Nine West.
Johnson & Johnson exec to lead hardlines for Sears
Sears Holdings Co. has made an interesting choice to lead its hardlines division.

The company announced that Lynn Pendergrass has joined the company in the new role of president, hardlines. In this position, she will be responsible for working across the Kenmore, Craftsman & DieHard business unit and its hardlines partners — including Home Appliances, Lawn & Garden, Tools, and Sears Auto Centers — to develop compelling offers and build relationships with members who shop the hardline categories.

Embrace change and ‘interruption,’ NACDS leaders urge TSE attendees

Massive changes in healthcare delivery, the rise of a new generation of health consumers and other forces continue to upend the practice and business of chain pharmacy, NACDS leaders told attendees of the Business Program at the 2015 NACDS Total Store Expo conference.
Miami Home Centers joins the True Value family

The newest addition to the True Value Company cooperative is a 60-year-old hardware chain based in South Florida.
Dollar General digs deep in pockets for literacy

Dollar General is trying to launch a literacy revolution in in its home state of Tennessee.

The retailer presented a surprise check to students, teachers and administrators at H.B. Williams Elementary in White House, Tenn., for $50,000 to support literacy initiatives at the school.

"Reading is critical to a child's success in school and in life. We hope this gift will help infuse a renewed excitement about reading and strengthen the literacy programs available to the students," said Denine Torr, senior director of Community Initiatives at Dollar General.
Macy's asks consumers to give back while shopping

Macy’s is appealing to customers with a favorite cause by asking shoppers to participate in the retailer's marquee charity event.

The retailer will hold its annual “Shop For A Cause” event, a unique, one-day-only shopping event created to support local charities’ fundraising efforts, on Aug. 29. Since 2006, the program has helped raise tens of millions of dollars for thousands of charities across the country.
Texas has space for fifth Amazon fulfillment center

Seattle – Texas is known for its wide open spaces, and Amazon.com Inc. is slowly filling them in with distribution centers. Amazon plans to open a fifth Texas fulfillment center in San Marcos.

Amazon employees at the 855,000 sq.-ft. San Marcos fulfillment center will pick, pack, and ship smaller customer items, such as books, electronics and toys.
Report: Best Buy will care for your Apple devices

Minneapolis – First Best Buy became the first national retailer, other than Apple Stores, where customers can buy the Apple Watch. Now Best Buy will reportedly become the first national retailer outside of Apple Stores to offer the Apple Care warranty program.
Pet Supplies Plus gets assortment collaboration on leash

Livonia, Mich. - Pet Supplies Plus, a retail pet supply business with 320 stores in 25 states, positions itself as a smaller, convenient alternative to big-box competitors. Success requires proper product assortment always being available through all channels.
Completed merger creates third-largest U.S. specialty retailer

Mahwah, N.J. — Ann Inc. is no more.

Ascena Retail Group Inc. has completed its acquisition of Ann Inc., formerly called Ann Taylor. Shares of Ann Inc. will be delisted from the NYSE and trading ceased at the close of business on Friday, August 21st.
Lowe’s Canada names VP of real estate

Toronto, Canada — Lowe's Canada has named Jeff Boyd as VP, real estate, construction and store design effective immediately. Boyd joined Lowe's in October 2007 and has played an instrumental role in the development of the company's Real Estate and Construction function in Canada over the past seven and a half years.
Foot Locker scores big with Q2 profit, sales

New York – Foot Locker Inc. scored big in the second quarter of fiscal 2015 with profit and sales that exceeded Wall Street expectations. Net income was $119 million, a 33% increase from $92 million the same period the prior year. Total sales climbed 3% to $1.69 billion from $1.64 billion. Same-store sales grew 9.6%. Falling selling, general and administrative (SG&A) expenses aided profit growth, while foreign currency fluctuation had a negative impact on sales growth.