Corporate Governance

Walmart’s next e-commerce power-play is reportedly in the works.   In its latest move to compete against its online nemesis amazon.com, Walmart is reportedly ready to invest up to $1 billion in Flipkart, according to an article in Quartz.   

Simon Properties has announced the impending arrivals of Cartier and Hermes at its Stanford Shopping Center in Palo Alto, California. This marks Hermes’ first new U.S. store in five years, according to Simon.   The 6,000-sq.-ft. Hermes shop, which will reside near Neiman Marcus in the center of the newly updated center, is scheduled to open in late 2017 or early 2018. Its focus will be on men's, women's, home, and equestrian collections.   

The key to success is customer satisfaction. By arming itself with a fleet of “great personnel,” The Container Store is always ready to deliver top-notch store-level service. This message was delivered during “Doing Well by Doing Good — How to Build Trust and Win the Modern Customer,” a topic discussed yesterday at “Retail’s Digital Summit 2016.” The event, sponsored by Shop.org, a division of the National Retail Federation, was held in Dallas.

Walgreens is ready to shutter up to 1,000 stores, but no one is biting.   In accordance with the closing of its deal to purchase Rite Aid, the Walgreens Boots Alliance must sell or close between 500 and 1,000 of its stores. However, there is a lack of interest among private equity firms, according to an Investopedia article.   Walgreens still expects to move forward with the Rite Aid acquisition, which is slated to close in the second half of this year, the article said.  

Zappos.com has found a new way to “wow” its passionate shoppers.    In a strategic move to drive engagement, the online shoe retailer launched its first-ever loyalty program. Called Zappos Rewards, the progression-based program will allow customers to earn points toward future purchases, get free expedited shipping on all orders, and receive early access to exclusive products and sales.  

Aldi’s sustainability efforts are gaining recognition.   The grocer’s sustainable distribution center and regional headquarters in Moreno Valley, Calif., have earned LEED Gold certification from the U.S. Green Building Council (USGBC). Working alongside Graycor Construction Company, Aldi improved the design and materials used in the development of both buildings.   

Petco is losing its longtime chairman and CEO.   Jim Myers, a 26-year company veteran and CEO since 2004, is retiring. Petco pesident and chief merchant Brad Weston, who joined the company in 2011, will succeed Myers as CEO, effective February 1, 2017.   Prior to joining Petco, Weston held senior leadership roles at Dick's Sporting Goods, May Merchandising Company and Robinsons-May.  

Americans will open their purses for holiday shopping regardless of whether Hillary Clinton or Donald Trump wins the election.      A survey of American voters by RetailNext found the vast majority will not let the outcome of election 2016 affect their planned spending this coming holiday season.