Corporate Governance

Atlanta - Gerard J. Arpey, former CEO of American Airlines, has been named to the board of directors of The Home Depot Inc. Arpey will serve on the company's Finance Committee and its Nominating and Corporate Governance Committee.

Cincinnati -- Phillips Edison Grocery Center REIT II, Inc. announced it has acquired Plano Market Street in Plano, Texas, and The West Acres Shopping Center in Fresno, California, for a collective $57.1 million, totaling more than 253,038 sq. ft.

Plano Market Street is a 169,624 sq. ft. grocery store-anchored shopping center in Plano, Texas, just outside Dallas. The center is 94.2% leased, anchored by Market Street and retailers World of Beer, Tony & Guy, and the Little Gym.

Henderson, Nev. -- Vestar recently completed a $120 million buyout from its joint venture partner, Rockwood Capital, to take full ownership and operations including property management, leasing and marketing of The District at Green Valley Ranch, a 37-acre, 384,107-sq.-ft. mixed-use center in Henderson, Nevada.  

The CEO of hhgregg says his company is off to a “solid start” despite first quarter numbers that clearly show otherwise.

The retailer reported that for the first quarter ended June 30, net sales decreased 6.6% to $441.1 million compared to prior year first quarter. Same store sales decreased 6.3% compared to the prior year first quarter. Revenue for the quarter came in at $441.1 million versus the consensus estimate of $445.99 million. And net loss per diluted share was $0.32 versus net loss per diluted share of $0.36 in the prior year first quarter. 

Despite posting a sales increase in July, Conn's says nearly 10% of its customers are not paying their bills.

"Greater than 60-day delinquency was 9.2% as of July 31, 2015 compared to 8.7% as of July 31, 2014. Greater than 60-day delinquency as of July 31, 2015 increased seasonally compared to the June 30, 2015 rate of 8.9%," said Theodore M. Wright, Conn’s chairman and chief executive officer.

Luxury handbags seem to be as common these days as smartphones, and therein lies the problem for rival brands Coach, Michael Kors and Kate Spade, who all reported quarterly results this week.

As these three luxury heavyweights battle it out against brand saturation and bored shoppers midway through the year, it seems as though only Kate Spade has all the right moves.

The shopping public's appetite for sexy underwear is apparently unsatiable, if the results from L Brands are any indication.

Off-price shop Stein Mart's strategy of just the right product, at just the right price, at just the right time seems to be working as the retailer reported another quarterly increase in same store sales.

Stein Mart Inc. reported rising total sales in the second quarter ended Aug. 1. Total sales for the quarter rose 4% to $311.6 million, from $298.1 million. Same store sales for the quarter rose 3%.

Sally Beauty Holdings is feeling the impact of its data breach.

Costs related to a data breach discovered in May, as well as higher selling, general and administrative expenses, helped reduce profit at Sally Beauty during the third quarter of fiscal 2015. Net earnings fell 8% to $62.46 million, from $67.76 million the same period a year earlier.

Net sales rose 2% to $967.89 million, from $949.27 million. Same-store sales increased 2% in the Sally Beauty Supply division and 5.6% in the Beauty Systems division.

A Northern California mountaintop retreat was the perfect venue for the nation’s largest arts and crafts retailer to host the inaugural Michaels Makers Summit.

The recent event was intended to serve as a community-building event for the a group of approximately 50 DIY and lifestyle bloggers who comprise the Michaels Makers community.