Corporate Governance

It’s the pizza chain on the rise in the U.S. and in Houston, too, apparently.   MOD Pizza will open 11 new locations in H-town this year, bringing its total in the metro to 15, according to Transwestern, which served as the leasing agent. The fast-casual chain is well on its way to 200 locations, with for 50 new shops in 2016.   MOD Pizza’s $65 million in sales represented a 21% increase in 2015, making it the fastest-growing new food chain in the U.S., according to Nation’s Restaurant News.

Target Corp. is taking action to put an end to the controversy that erupted in the wake of its transgender bathroom decision.    The retailer will spend $20 million to ensure that each of its stores have a single-occupancy, unisex bathroom by next year, MarketWatch reported.  

Target Corp. on Wednesday reported second quarter earnings that exceeded Wall Street expectations, but the discounter lowered its guidance for the full year amid declining sales and what it called a “difficult retail environment.”   Net income for the quarter was $680 million, or $1.16 cents per share, versus $753 million, or $1.18 per share in the year-ago quarter. Adjusted per-share earnings were $1.23, easily outdistancing analysts’ projections of $1.12.   

The Rite Aid Foundation announced Monday a $50,000 donation to the American Red Cross Louisiana Capital Area to help the victims, families and communities across the greater Baton Rouge area that were affected by the historic rainfall and flooding over the weekend.   

Urban Outfitter Inc. turned in a better-than-expected performance in the second quarter amid increased sales and fewer promotions and markdowns.   “Urban has now regained its position as the brand leader for young people,” said Urban Outfitters CEO Richard A. Haynes during the chain’s quarterly conference call.  

The Northfield Crossing Shopping Center in Murfreesboro, Tennessee, that featured a Hastings Entertainment store has been purchased by Baker Storey McDonald Properties on behalf of an unnamed client. Terms of the sale were not disclosed.   Meanwhile, RCS Real Estate Advisors announced it would be auctioning off 120-plus store leases for the bankrupted music, movie, and video game retailer. The chain’s inventory was purchased by Hilco Merchant Resourses and Gordon Bros. Retail Partners in a Chapter 11 filing.   

PetSmart is looking to get a bigger share of the more than $60 billion Americans spent on their pets last year.      The retailer has opened its first-ever PetSmart Pet Spa, in Oceanside, New York. The new store is aimed at offering an enhanced experience and is intended to test out various ideas for consideration within PetSmart’s network of 1,460 plus stores.  

Customer experience remains at the hub of all retail strategies, including technical strategy. Whether it’s global inventory availability, mobile payment or loyalty apps, e-commerce and call center integration, or ubiquitous points-of-sale, infrastructure that uses all assets while integrating suppliers and consumers continues to define a retailer’s network design. Further, in highly competitive retail segments, managing the costs of digital fluidity is not only vital to capturing profitable share; it can also distinguish competitive advantage.