Corporate Governance

The nation’s largest specialty pet supplies retailer is upping its store growth this year.   PetSmart said it expects to open approximately 80 net new stores in fiscal 2016, up from 50 locations in fiscal 2015.     PetSmart is on its way to meeting its goal, having opened 12 net new stores in the United States and Canada during the quarter ended May 1, 2016. The new locations average over 12,000 sq. ft., and include service offerings such as grooming and pet training.  

H&M isn’t letting a weak second quarter performance stand in the way of its ambitious expansion plans.   The Swedish retailer’s profit in the quarter, which ended May 31, fell 17% to 5.357 billion Swedish kronor ($649.6 million), according to MarketWatch, as unusually cool weather dimmed sales of spring clothing and a strong U.S. dollar added to its costs. The strong dollar will have a negative impact on purchasing costs for the third quarter and a neutral effect in the fourth, the chain said.  

Photo: Sara Martin and Dave Cheatham   X Team International has announced the appointment of Velocity Retail Group’s Dave Cheatham and Welsh Companies’ Sara Martin to its board of directors. Board members are elected by the retail advisory alliance’s 35 partner offices.  

The Las Vegas City Council has approved a new master plan for the gambling mecca’s Downtown district, focusing on both historic attractions and new development to drive more traffic there. The plan was developed under the direction of RTKL, an architecture and urban design firm whose completed projects include Mirdif City Centre in Dubai and L.A. Live.  

Timberland announced a goal to double its footprint in five U.S. cities by 2020 -- but not in the conventional year.   Each year for the next five years, the brand will choose a different city with a Timberland  store, and match its retail floor space with the creation or restoration of an equivalent amount of green space in that city.  

The National Retail Federation has some big concerns about a plan unveiled Wednesday by House Republican leadership to replace President Obama’s Affordable Care Act.    

Apple is training the next generation of coders — in its stores.   The company is expanding its Apple Camp workshops to include a course designed to teach children the basics of coding, Techcrunch reported.   The “Coding Games and Programming Robots” course, open to children ages 8 to 12, will also allow kids to program Sphero robots.   

With all the attention placed on cybercrime, it is easy to overlook the threat posed by old fashioned shoplifters and dishonest employees.