Corporate Governance

Regional grocery chain Southeastern Grocers has agreed to sell 29 BI-LO stores to another regional grocery chain: K-VA-T Food Stores.

K-VA-T says it intends to continue to operate all of these stores under the Food City banner and hire the vast majority of their store associates, retaining their years of service.

Shares of Amazon.com surged past the $500 mark after the company reported a second quarter profit and revealed more details about a phenomenally successful Prime day promotion that fell in the third quarter.

New York – There is no shortage of retailers treading on different pieces of retail turf dominated by Amazon.com, and Macy’s is reportedly joining the list. According to Reuters, Macy’s will partner with same-day delivery provider Deliv to expand same-day delivery of online purchases to several new U.S. markets before the end of the summer.

Commerce, Calif. – Smart & Final Stores Inc. reported net income of $11 million in the second quarter of fiscal 2015, essentially flat compared to $11.1 million in the year-earlier period. Higher expenses related to higher sales volumes, increased store support costs, additional marketing expense, and public company costs inhibited profit growth.

Seattle – Nordstrom Inc. is letting women join the club. More specifically, Nordstrom is now allowing women to apply to its Trunk Club online personal shopper service that was previously only open to men.

Goodlettsville, Tenn. – Dollar General is taking a decidedly modern approach to the age-old tradition of back-to-school shopping. The retailer is offering its Fast Way to Save digital coupon program through Aug. 15.

To enroll or upload these coupons, customers may login to their electronic DG Digital Coupon account either through Dollar General’s website or through the DG mobile app

Clearwater, Fla. – Recreational boat retailer MarineMax Inc. should be floating after receiving positive fiscal results for the third quarter of fiscal 2015. Net income sailed 29% to $14.9 million from $11.5 million in the same period the prior year, aided by gains from sale of real estate.

Revenue grew approximately 8% to $231.8 million, compared with $214.4 million. Same-store sales increased approximately 10%.

Covington, La. - Stirling Properties has completed its first retail development in Lake Charles, Louisiana. Academy Sports + Outdoors was relocated to a new location, adding an additional 22,000-sq.-ft. to the store. The new 72,000-sq.-ft. store was expanded to meet the demand of the growing Lake Charles community.

All of the land surrounding the larger Academy Sports + Outdoors is currently available for sale or lease.

Bassett, Va. - Bassett Furniture Industries Inc. has named Ann Zaccaria has joined the organization as VP, real estate and new store development. She will be responsible for site selection, lease negotiation and store planning for new Bassett retail locations.

Zaccaria served as VP, real estate with Ethan Allen Interiors for the last 22 years.

Bassett Furniture is a manufacturer and marketer of mid-priced home furnishings with 92 company- and licensee-owned stores.

Bentonville, Ark. – Wal-Mart Stores Inc. has made it clear with recent promotions that it has Amazon.com in its sights, and the retailer is now boning up on back-end fulfillment capability for its e-commerce business. Wal-Mart is opening two new e-commerce distribution facilities Bethlehem, Pennsylvania.