Corporate Governance

Things really aren't as bad as they seemed a few weeks ago for Costco, which just reported a sizable increase in same store sales for July.

The CEO of Fred's says its stellar sales for July reflect the success of the company's expanded pharmacy business.

Sears Canada has come up with an innovative way to appeal to back-to-school shoppers -- especially those parents who have kids who don't wear uniforms to school.

The retailer has launched the KidVantage Grow Out Guarantee, "created to take the stress and guesswork out of back-to-school shopping." The KidVantage Grow Out Guarantee promises that if your child grows out of an article of clothing purchased at Sears, you can exchange it for the next size up before the end of the current school year.

Cleveland – Stark Enterprises announced the addition of Stark Capital Group. The new division will provide comprehensive real estate capital markets solutions with an emphasis on equity and debt placements, principal acquisitions and asset management. 

Nico Bolzan will serve as executive director of SCG. Bolzan will lead efforts to raise both equity and debt financing through a variety of private and institutional capital sources on a national level.  

Downers Grove, Ill. – FTD Companies Inc. was provided a substantial financial boost in the second quarter of fiscal 2015 as a result of its December 2014 acquisition of floral gifting company Provide Commerce. The added business helped almost quadruple net income to $17.8 million from $4.7 million in the same period the previous fiscal year.

Consolidated revenues were $365.8 million, roughly double $168.1 million. New revenue from Provide Commerce, as well as increases in consumer and florist revenue, drove the sales growth.

Lynnwood, Wash. – Specialty sports retailer Zumiez Inc. had a fizzling July. Net sales decreased 2% to $61.4 million, from $62.8 million the same four-week period a year earlier. Same-store sales dropped 7.6%.

Brooklyn, N.Y. – Etsy Inc. assembled a growing net loss in the second quarter of fiscal 2015, despite improving sales results. Net loss doubled to $6.4 million from $3.2 million in the second quarter a year earlier.

Toano, Va. – Legal and regulatory costs, as well as costs related to payroll, severance and commissions, contributed to a surprise net loss during the second quarter of fiscal 2015 at Lumber Liquidators. The struggling retailer also informed financial regulators that it may face legal action stemming from the sale of Chinese hardwood flooring that allegedly contained excessive levels of formaldehyde.

New York -- The retailer whose customers often call it the “Whole Foods for pets” is expanding in the Chicago area as it looks to leverage what has become a $58 billion industry.

Kriser's Natural Pet is bringing the natural pet movement to the west suburbs of Chicago with a grand opening in Naperville on Aug. 15-16. A second grand opening will take place in Northbrook on Aug. 29-30.

New York -- Nike has given its Seattle flagship a makeover that includes technology to help customers select running shoes that are the perfect match for their feet and gait.  

Located on Sixth Avenue and Pike Street, the store incorporates unique design elements, including a custom neon sculpture celebrating sport icons and a number of the city's cultural symbols. An art installation signed by Seattle Seahawks players honors Seattle's sports fans.