Corporate Governance

Report: American Express sued for misleading investors about Costco
New York -- American Express Co and Costco Wholesale Corp. are at it again.

A lawsuit has been filed accusing American Express of misleading investors about the loss of its contract with Costco after having failed to reveal how significant that business had become to the credit-card company, Reuters reported.
Sporting goods giant targets women with new format
Pittsburgh – Who said women don’t like sports? Dick’s Sporting Goods certainly never said so.

Dick’s is launching Chelsea Collective, a specialty women's fitness and lifestyle boutique. The first two Chelsea Collective locations will open in August 2015 in Tysons Corner, Virginia at Tysons Corner Center and Pittsburgh at Ross Park Mall.

Starbucks to open stores in lower-income urban areas, including Ferguson

Seattle -- Starbucks Corp. is making good on its pledge to spur job growth among “opportunity youth,” or young people aged 16 to 24 who don’t have jobs and aren’t in school.
ChannelIQ eyes CPG growth opportunity

Retail intelligence provider ChannelIQ helps brands cope with e-commerce complexity and it just bolstered its ability to do so with a key hire from the consumer packaged goods world.
Saks satisfies foot fetish in Connecticut

Saks Fifth Avenue is putting its best foot forward in a hot category.

The retailer plans to open its first-ever stand-alone 10022-SHOE store in Greenwich, Conn. Expected to open in fall 2016, the new 14,000 square-foot location at 20 East Elm Street will be dedicated to women’s footwear and will be just a short distance from the existing Saks Fifth Avenue location in downtown Greenwich.
Ex-Target tech exec to become CIO at Foot Locker Inc.

Foot Locker Inc. has chosen a new IT chief to drive the company's next generation of technological advances.

The retailer has appointed Pawan Verma as Senior Vice President and Chief Information Officer, effective Aug. 10. Verma succeeds Peter Brown, who retired in April after 38 years with the company.
Verma will oversee the company's global information technology functions and infrastructure, and provide leadership and vision to align technology with strategic business initiatives.
Bridgestone aims to drive great futures

While many retailers are promoting back-to-school sales, Bridgestone has come up with an alternative way to ring in the beginning of the school year.

The company announced it is joining with Boys & Girls Clubs of America on an initiative to provide safe and productive after-school and summer space for kids and teens at Clubs in communities nationwide, with the programming and resources they need to achieve a great future.
H&M to expand sleeker, sexier sister stores

Fast-fashion giant H&M is adding another set of initials to its aggressive expansion plans.
Instagram commerce is about to explode

Facebook is preparing to make a change on Instagram that will have a big impact on social shopping and retailers.
J. Crew’s Mercantile headed to Wisconsin

Chicago -- J. Crew Group’s new value-priced store concept has announced a second location.

Mercantile, which recently made its national debut at The Shops at Park Lane in Dallas, will open at The Mayfair Collection, in Wauwatosa, Wisconsin.
H&M expanding higher-end store banner in the U.S.

London -- Fast-fashion giant H&M doesn’t let any grass grow under its feet.

H&M is expanding its higher-end, minimalist-styled brand, COS (short for Collection of Style). The retailer plans to open four stores in the United States in 2015, starting this fall, with two new markets on tap. COS is also expanding into Canada, with stores set to open in both Montreal and Toronto later this year.
Fridays on hunt for new CEO

Carrollton, Texas -- TGI Fridays is looking for a new chief executive.

The company announced that Nick Shepherd recently informed the Fridays’ board of his decision to step down as president and CEO, citing that he believes the time is right to pass the torch to a new leader to steer the 50-year-old brand through its next chapter of growth.

Shepherd will continue to actively lead the business through mid-October, and will be working closely with Fridays chairman of the board, John Antioco.