Corporate Governance

U.S. retail giant may run into trouble in this country
New York -- As Costco Wholesale inches closer to opening its first location in France, the retailer may not find the country such an easy target by any measure, reported the Seattle Times.

In France, Costco will find itself on the doorstep of hypermarket giants Carrefour, Auchan and Casino, which run huge stores selling a dizzying assortment of food and other products, according to the report.

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Staples debuts first-of-its-kind online store selling crowdfunded products
Framingham, Mass. -- Staples has opened an online store whose products were determined by crowdfunding.

The winners of the chain’s inaugural Crowd2Shelf Contest are being featured on Staples’ new entrepreneurial store at Staples.com/fundable. The debut of the online store marks the first time a retailer has used crowdfunding to determine market demand and social support in choosing products to carry.

Gap second quarter looking lackuster

San Francisco -- Gap Inc. is still searching for its turnaround.

Gap Inc. issued a second-quarter earnings forecast that was below Wall Street analysts' estimates, with its results impacted by foreign currency fluctuations, West Coast port delays and previously announced store closings in its namesake brand.

Gap reported less-than-expected total sales of $3.9 billion for the second quarter, down 2% from the $3.98 billion the year-ago period.
Washington Property Co. acquires $9.5 million Maryland shopping center

Bethesda, Md. -- Washington Property Company announced it has acquired Ballenger Creek Plaza, a 75,527-sq.-ft. center located in Frederick, Maryland, for $9.5 million.

“Washington Property Company is excited about expanding its retail portfolio with the acquisition of Ballenger Creek Center,” said WPC president Charles K. Nulsen, III. “We plan to renovate and reposition this neighborhood center in the growing submarket of southwestern Frederick.”
Recently renovated Parkway Pointe changes ownership

Atlanta -- FCA Partners announced the acquisition of Parkway Pointe, a 196,664-sq.-ft. retail center located in Atlanta. The property was purchased for $43.9 million from Stockbridge Capital on June 25.
Mobile payments now accepted at Rite Aid

Camp Hill, Pa. — Rite Aid is making it easier for customers to make purchases.
GameStop encourages employees to hit the books

New York -- GameStop wants its employees to pursue a higher education.
Macys hits the runway

New York -- Macy's is planning a catwalk show of its own to close out the biggest fashion week of the year.

The retailer announced that it will host “Macy’s Presents Fashion’s Front Row” on Sept. 17 in New York City, featuring celebrities, musical acts and a runway show.
Lowes upgrades Pro site

New York -- Lowe's is investing in helping its professional customers save time, money and run their businesses more efficiently.
Staples’ online store exercise in innovation

A collection of crowdfunded products introduced on Staples Web site is being billed as a “first-of-its-kind-entrepreneurial store.”

Staples conducted a contest called Crowd2Shelf and winners of the inaugural event created by Fundable debuted on Staples' new entrepreneurial store at Staples.com/fundable. The contest drew thousands of startups across the country who competed for a chance to crowdfund their way to Staples. The Crowd2Shelf Contest was also made possible by the business strategy firm Sprosty Network.
At Hhgregg, it's not too early for holiday hiring

Hhgregg says it is trying to get ahead of an ever-earlier holiday shopping season by starting to hire seasonal employees now.

The retailer plans to hire more than 550 full-time and part-time in-store sales associates. As the holiday shopping season continues to tiptoe earlier into the calendar year, Hhgregg is looking to have their stores fully staffed and associates trained and ready to greet shoppers getting a jump on the holiday rush.
No sign of any turnaround for the Gap

The turnaround at Gap Inc. is still struggling to get off the ground, if the retailers' latest round of financial results are any indication.

Gap reported that net sales for the four-week period ended Aug. 1 were $1.12 billion compared with net sales of $1.17 billion for the four-week period ended Aug. 2, 2014. For the second quarter of fiscal 2015, Gap Inc.’s net sales decreased 2% to $3.90 billion compared with $3.98 billion for the second quarter last year.