Corporate Governance

DSW to expand across America this fall
DSW's aggressive store expansion plan is still on track, as the retailer looks to tap growth in existing as well as new markets.

The footwear and accessories retailer says it is opening 22 stores this fall, 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.
Petco puts its best paw forward for war dogs
Petco is putting a spotlight on the plight of military dogs who are left behind with an uncertain fate in a potentially hostile country.

The Petco Foundation has awarded $250,000 to the United States War Dogs Association to help return, reunite and provide medical care for retiring military and contract working dogs serving overseas with their handlers.

Stein Mart targets discount shoppers in N.Y., Mich.

Off-price retailer Stein Mart is accelerating the implementation of its store growth strategy just as thrifty shoppers increasingly flock to discounters.
New Yorkers to get a (smaller) taste of Cost Plus

A soon-to-open Cost Plus World Market store in Manhattan could serve as a blueprint for the company's expansion in other urban areas.
Cabela's adds Coors Brewing veteran to its board

Nebraska-based sportings goods retailer Cabela’s has appointed the former CEO of Coors to its board.

The company announced that Peter S. Swinburn has been named to its board of directors.
Kroger looks to Liberty Mutual for loyalty program

Kroger is partnering with Liberty Mutual on a new loyalty card program for shoppers, Loyalty360 reported Thursday.
Nordstrom avoids the department store doldrums

In a week in which many of the nation's major department stores reported disappointing financial results, Nordstrom showed once again how to drive sales growth.

The Washington-based retailer reported that total sales rose 9.2% from the same quarter in 2014, while same store sales rose 4.9%. The company posted a profit of $211 million, or $1.09 a share, compared with $183 million, or 95 cents a share, a year earlier. Revenue, which includes revenue from its credit cards, rose 9% to $3.7 billion.
Embattled American Apparel issues blunt warning to shareholders

New York -- Things are not getting any better at the struggling and cash-poor American Apparel. In fact, it looks like they are getting worse.

In a short form quarterly filing, the retailer said its net loss increased to $19.4 million in the second quarter from $16.2 million in the year-ago period while net sales fell 17% to $134 million. It estimated that, as of June 30, it had only $7 million in cash and $6 million left in its Capital One credit line. (American Apparel’s full quarterly filing will be delayed.)
Lowe’s readies Manhattan debut with new store format

Photo: At Broadway and 68th, a 30,000-sq.-ft. store takes shape.

New York -- Lowe’s is giving an overhaul to its store format strategy when it makes its Manhattan debut on Aug. 17.

The North Carolina-based retailer is set to open two stores in the Big Apple, with the first opening on the Upper West Side on Monday, and the second, in the city’s Chelsea neighborhood, in September.
West Coast home furnishings fave comes to New York

Oakland, Calif. -- Cost Plus Worldwide Market is opening its first-ever Manhattan outpost — and also showing off a new format.

The value-priced home furnishings and lifestyle specialty retailer will open a store on Thursday, August 20, in the city’s Chelsea neighborhood. At 5,000-sq.-ft., it is Cost Plus’ first small-scale store.
Report: Target to test grocery-delivery service

New York -- Target Corp. is joining other retailers in the grocery delivery service.

The chain plans to begin testing a grocery-delivery service, reports the Minneapolis-St. Paul Business Journal.

To read the story, click here.
REI names former Nordstrom exec as first-ever CIO; recruiting tech talent

Seattle -- REI has named its first-ever CIO. The outdoor specialty retailer company is also on the hunt for talented techies to join its ranks.

REI promoted Julie Averill to CIO, where she will continue to lead REI’s technology organization. A 25-year technology veteran, Averill joined REI in 2014 and most recently served as VP of information technology.