Corporate Governance

Targets adds more CPG, retail muscle to its board
New York -- Two retail and consumer product goods veterans have joined Target's board of directors.

The company announced Wednesday that its board of directors elected Donald R. Knauss, former executive chairman and former chairman and CEO of the Clorox Company, and Robert L. Edwards, former CEO of Safeway Inc., as new directors, effective immediately. 
Online retailer Wayfair narrows loss on growing sales
Boston -- Online home furnishings retailer Wayfair is losing less money than before and gaining new customers at a rapid pace.

The retailer reported a loss of $19.3 million for the second quarter, ended June 30, down from a loss of $28 million, in the year-ago period.

Revenue increased to $491.8 million, up 66.4% year over year. Direct retail revenue, consisting of sales generated primarily through the sites of Wayfair’s five brands, increased to $440.3 million, up 80.8% year over year.

Why Macy’s got rid of Trump’s menswear line

New York -- Macy’s CEO and chairman Terry Lundgren is talking about why the department store giant decided to stop carrying Donald Trump’s menswear collection.

In a report on CNBC, Lundgren said the decision was a business one.
Macy’s in real estate deal with Tishman Speyer for Brooklyn store

New York -- Macy’s has joined the increasing number of retailers tapping into their real estate assets.

Macy’s on Wednesday announced a real estate purchase agreement with developer Tishman Speyer to sell several of the nine floors of the Macy’s store on Fulton Street in Brooklyn, New York. The real estate transaction is expected to be completed in the fourth quarter, and Macy’s is expected to record a gain of approximately $250 million in its fiscal fourth quarter of 2015.
Boston’s Copley Place is getting a makeover

Boston -- Simon announced plans for a major renovation to Boston’s Copley Place that will begin in September and include interior and exterior enhancements to the retail portion of the property.

In addition to physical upgrades, Simon will continue to add a number of luxury retailers to the property. The majority of the project will be completed by the summer of 2016 with Copley Place remaining fully open throughout the renovation.
Macy’s Q2 falls short; announces new omnichannel, global initiatives

Cincinnati -- Macy’s on Wednesday announced several key initiatives to drive its growth going forward, ranging from new store ventures to digital efforts to an international foray.
Why Macy's is looking forward to the holidays

Macy’s may be counting on key growth initiatives to generate sales during the holidays after reporting another disappointing quarter of financial results.

The company says same store sales declined 2.1% in the second quarter ended Aug. 1. Profit fell to $217 million, or 64 cents a share, from $292 million, or 80 cents a share, a year earlier. Total sales fell 2.6% to $6.1 billion, missing analysts’ estimates for $6.23 billion. Gross margin narrowed to 40.9% from 41.4% a year earlier.
Wayfair investors say ‘way to go’

Online home furnishings retailer Wayfair is losing less money than before and gaining new customers at a rapid pace.
Will Macy's get caught up in a currency war?

At a time when the Chinese currency is being devalued and Macy’s financial results are disappointing investors, the company is forming an exclusive partnership with Alibaba.
These brands are tops with students

Barnes & Noble is tops when it comes to the most powerful “Back-to-School” retail brands, according to a new survey.
Lowe's builds a new strategy with N.Y. stores

Lowe’s is giving an overhaul to its store format strategy when it opens in New York City this week.
Back-to-school not all about students at Lane Bryant

Lane Bryant is taking a non-student approach to back-to-school marketing with its third annual Chalk it up to Style promotion.

Now through Aug. 31, teachers and supporting school staff who shop at Lane Bryant during Chalk it up to Style will enjoy saving 15% off their purchase when shopping in store with a valid school ID or paystub.