Corporate Governance

Seattle -- Finally some good news in the department store sector.

Nordstrom Inc. on Thursday reported better-than-expected fiscal second-quarter earnings and sales.

The retailer reported net profit of $211 million, or $1.09 a share, for the quarter ending Aug. 1, up from $183 million, or 95 cents a share, in the year-ago period.

New York -- It’s been a rough week for department stores.

Kohl’s Corp. joined Macy’s and Dillard’s this week in reporting disappointing earnings and weak same-store sales growth.

Kohl’s posted a profit of $130 million in the second quarter ended Aug. 1, down from $232 million in the prior-year quarter.

Columbus, Ohio -- DSW continues its march across America.

The footwear and accessories retailer is opening 22 stores this fill, including six locations in new markets.

"Expanding our store base allows us to grow our footprint in areas we already call home, while also bringing DSW stores and the DSW brand to areas where our customers have been anticipating our arrival,” said Carrie McDermott, executive VP and COO of DSW, which operated 449 stores in 42 states.

Little Rock, Ark. -- Dillard’s Inc. profit declined 13.3% in the second quarter, but it still came in better than analysts had expected.

Growth in shoes and some apparel categories helped Dillard’s post a feeble second quarter same-store sale increase, but it was too little for the department store retailer to avoid the sharp decline in profitability. The retailer’s profit for the quarter ending Aug. 1 was $29.9 million, down from $34.5 million in the year-ago period.

Jacksonville, Fla. -- Off-price retailer Stein Mart continues to pursue the accelerated store growth strategy that it began in 2014.

The off-price retailer announced it will open nine stores this fall, and at least 12 new locations in 2016.

The news follows the company's recent release of first half 2015 total sales growth of 6.1% and comparable store-sales growth of 4.0%.

New York -- A strong majority of Americans (72%) - crossing regional, political, generational, gender and income lines – believe the current federal minimum wage of $7.25 per hour is lower than it should be. However, while Americans clearly feel minimum wage should be higher, exactly how high remains a more contentious subject.

Chicago – Mid-America Real Estate Corporation announced the addition of Lara Keene as VP to the Urban Team. Prior to joining Mid-America Keene was managing director at RKF and part of Baum Realty Group’s tenant and luxury division.

Keene will be specializing in landlord and tenant representation with a focus on Chicago’s luxury fashion streets and neighborhoods.

Kohl’s has joined other major retailers this week reporting disappointing earnings and anemic same store sales growth.

The Wisconsin-based retailer posted a profit of $130 million in the second quarter ended Aug. 1, below the $232 million in the prior-year quarter. Earnings per share were 66 cents, compared with $1.13 in the second quarter of 2014. Same store sales grew a measly 0.1%. Overall revenue increased by just 0.6%, to $4.27 billion for the quarter.

Kmart is taking a comedic approach to its back-to-school promotions this year with an eccentric ad campaign.

The retailer has rolled out an ad that touts back-to-school season not being about students, but about parents getting ready to get their free time back.

PayPal has revised its disclosure practices for material information in a way that could serve as a blueprint for retailers in the wake of a major insider trading bust that took down 32 hackers and brokers who allegedly reaped $100 million during a five year scheme to steal press releases.