Corporate Governance

Retailers are focused on getting leaner.   That’s according to a new study by Accenture, in which 88% of retailers said they were focused on cost reduction to free up funds necessary to reinvest in growth initiatives.  As for where they are those cost savings, the top three areas were expanding into new geographies (cited by 60%), digital technologies (54%) and enhancing customer experiences (52%).  

Urban Outfitters, which has a history of selling products that can sometimes cause offense (at least to some consumers),  has entered the presidential debate.   The chain is offering a range of merchandise criticizing Donald Trump, Bloomberg reported, including  a book of Trump quotations styled to look like Chinese communist leader Mao Zedong’s Little Red Book.   

Matt Powers, who formerly held a high-level real estate executive role at Walmart, is shifting professional gears.   Powers has joined real estate services firm JLL Inc. as an executive VP who will serve on the company’s Retail e-commerce Distribution (ReD) platform. He will help advise retailers on their distribution real estate strategies and implement solutions that help clients achieve their supply chain, e-commerce and omni-channel operational goals.  

In a move that could help its employees save money, Starbucks Corp. is increasing the number of health insurance options available to its employees.    The coffee giant announced Monday that beginning this fall it will give eligible U.S. employees (those who work 20 hours or more per week) the ability to buy their insurance coverage through a private health exchange, which will increase the number of insurance options available to them.,   

By Dan Berthiaume Walmart Canada has begun following through with a June announcement it would gradually stop accepting Visa payments. On June 11, the retailer issued a release stating it would stop accepting Visa payments across Canada, starting July 18 at stores in Thunder Bay, Ontario. Multiple media reports indicate that as of July 18, Walmart Canada is no longer taking payments via Visa-branded cards at three stores in Thunder Bay.

Burlington Stores Inc. is upping its guidance for several key fiscal metrics in the second quarter of fiscal 2016.   The retailer now expects second quarter adjusted net income per share to total $0.28 to $.30, up from a previously announced range of $0.20-$0.23 per share and compared to $0.19 in the same period the previous year. Burlington Stores also currently anticipates adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) in the range of $88 to $90 million, compared to the prior year figure of $75.4 million.

Urban Outfitters, which has a history of selling products that can sometimes cause offense (at least to some consumers), has entered the presidential debate.   The chain is offering a range of merchandise criticizing Donald Trump, Bloomberg reported, including  a book of Trump quotations styled to look like Chinese communist leader Mao Zedong’s Little Red Book.   

Ross Stores remains among the nation’s most expansion-minded retailers.     The company  is opening a total of 24 Ross Dress for Less stores and seven dd's Discounts stores across 15 different states in June and July. The openings are part of the company's 2016 expansion plans, which call for the opening of approximately 70 Ross stores and 20 dd's Discounts locations throughout the year.