Corporate Governance

dd's Discounts ramps up growth in Florida
Dublin, Calif. -- dd’s Discounts, a division of Ross Stores, Inc., opened a new store in Tampa on June 27.

The 22,000-sq.-ft. store, located in University Plaza on the northwest corner of Fletcher Avenue and Bruce B. Downs Boulevard, marks the retailer’s 26th store in Florida and secures the state as dd’s third-largest in terms of store counts.
dd's Discounts opens fourth Tucson-area store
Dublin, Calif. -- dd’s Discounts, a division of Ross Stores, Inc., opened its newest Arizona store on June 27 – a 22,000-sq.-ft. unit in North Tucson.

The newest store is located in the Oracle Gateway off of North Oracle Road and Pastime Road, 3.7 miles north of downtown Tucson, and it brings the total number of stores in the Tucson area to four.

Merger costs take toll on Family Dollar Q3 profits

Matthews, N.C. – The pending merger with Dollar Tree Inc. took a toll on Family Dollar’s profits in the third quarter.

Expenses related to the merger drove Family Dollar’s net income down 1.5% to $79.9 million from $81.1 million the year-ago period, below Wall Street expectations.
REI bringing the outdoors to new markets

Seattle – Lovers of the great outdoors in the Cleveland and Philadelphia areas have something else to celebrate as Independence Day approaches.

Outdoor gear and apparel retailer announced it will open new stores in fall 2016 in Cleveland and in King of Prussia, Pennsylvania.
Sears Hometown and Outlet Stores promotes COO to CEO

Hoffman Estates, Ill. – Sears Hometown and Outlet Stores Inc. has named William (Will) A. Powell as CEO and president. Powell succeeds W. Bruce Johnson, who as previously announced is stepping down as CEO and president.
American Girl says ‘hola’ to Mexico

Middleton, Wis. - American Girl is expanding south of the boarder.

The brand will make its debut in Mexico, opening in-store boutiques in department store El Palacio de Hierro’s locations in Interlomas and Perisur. The in-store shops, ranging in size from 1,500 sq. ft. to 2,000 sq. ft., open July 4.

Mexico marks the second international retail presence for American Girl, which opened its first Canadian store in October 2013.
Online puppet retailer to become ‘real’ store chain

Mount Shasta, Calif. – Following the lead of Pinocchio, online puppet and educational toy retailer ePuppets Inc. is joining the “real” world.

E-Puppets will open its first physical store on July 4, in its headquarters town of Mount Shasta, California.
Dover Saddlery jumps into merger

Littleton, Mass. – Specialty equestrian retailer Dover Saddlery Inc. is jumping into a new business arrangement.

Dover Saddlery has completed its merger with a company formed by Webster Capital. Dover shareholders will receive $8.50 per share in cash in the merger, and all in-the-money stock options and warrants will be cashed out.
PayPal is in the money with new acquisition

San Jose, Calif. – PayPal Inc. is getting itself “in the money” with a major acquisition as the company prepares for its impending July 17 split from eBay Inc.

PayPal will purchase digital money transfer service Xoom Corp. for $25 per share in cash, or about $890 million.
Aeropostale prepares for landing in India, Indonesia

New York – Aeropostale Inc. is expanding in Asia through new licensing agreements in India and Indonesia. The company plans to open stores in India through a licensing agreement with Arvind Lifestyle Brands Ltd., and in Indonesia through a licensing agreement with PT Mitra Adiperkasa TBK (MAP).
Sears Canada CEO resigns to become chief of Barnes & Noble’s new retail business

New York – Barnes & Noble Inc. has tapped Ronald D. Boire, currently president and CEO of Sears Canada Inc., to become the CEO of its new retail division, effective Sept. 8.
Kohl’s opens new concept

New York -- Kohl's has thrown its hat in the growing off-price market.

The company has officially debuted its new off-price format, Off Aisle by Kohl’s, with a test store in Cherry Hill, New Jersey.