Corporate Governance

Coca-Cola to give $1 for every video share of Olympic song
Coca-Cola wants U.S. consumers to “Reach Up” to support the 2015 Special Olympics in Los Angeles.

The company has assembled a star-studded team to record a song for the games called “Reach Up,” which will be featured on Coke's social media channels. The song features rock band O.A.R., recording artist Cody Simpson, Breanna Bogucki, a singer and decorated Special Olympics athlete from Illinois who has Autism, and Madison Tevlin, a young Canadian woman with Down syndrome who became a viral sensation earlier this year.
Toys"R"Us grows omnichannel capabilities in Europe
Efforts to transform the customer experience and optimize e-commerce capabilities at Toys”R”Us are getting a boost in Europe with a new distribution center.

The retailer says it has completed a new distribution center in Saint-Fargeau-Ponthierry, France, to support the company's rapidly expanding e-commerce business throughout the country and in select sections of Europe.

Growing Shopko to open 15 stores in July

Shopko is continuing on its growth path with the opening of 15 new Shopko Hometown stores across eight states this July.

The new locations join 20 stores Shopko already opened earlier this year and more than 15 additional stores the company plans to open in October.
Report: Amazon mulls crowdsourced delivery

Amazon is considering creating a network of drivers similar to Uber in order to speed up deliveries and reduce shipping costs, according to a Wall Street Journal report.

Instead of using UPS or FedEx, Amazon.com is mulling a plan to hire ordinary people to make deliveries that are on the way to their destinations, the Journal says. The e-commerce giant is also looking at partnering with retailers to store the merchandise before delivery.

Read more by clicking here.
Dollar General names key execs to new roles

On the heels of opening its 12,000th store, Dollar General has named five executives to key leadership positions within its merchandising and supply chain organizations.

The company announced internal promotions in both its merchandising and global supply chain functions as the company enhances its management team. The following promotions are effective immediately:
Gap to close 175 namesake stores in North America, lay off 250 HQ employees

San Francisco — Gap Inc. on Monday lowered the boom on its biggest and most troubled division, announcing it would close 175 of its 675 namesake stores in North America over the next few years, with 140 of the closures occurring in the current fiscal year. In line with the closings, the brand’s headquarters workforce will be reduced by about 250 roles this year.

The closings will not impact Gap Outlet and Gap Factory Stores. Gap will also close a limited number of European locations, but it did not give a specific store count.
Extreme-value retailer Ollie's files for IPO; sees potential for 950 stores

HARRISBURG, Pa. — Extreme-value retailer Ollie’s Bargain Outlet Holdings on Monday filed for an initial public offering. With a tagline of "good stuff cheap,” Ollie’s operates 181 stores in the Eastern United States, expects to open 25 to 30 stores in fiscal 2015 and sees the potential for more than 950 locations across the country. (For more on Ollie’s, click here.)
Kmart taps DSW executive as marketing chief

Hoffman Estates, Ill. – Kmart is shaking up its marketing operation with moves including the recent appointment of former DSW Chief Marketing Officer Kelly N. Cook as its chief marketing officer. There was never a formal announcement, but Cook’s LinkedIn profile indicates that she joined Kmart in that position in April.
Target CEO talks about new partnernship with CVS

Target chairman and CEO Brian Cornell commented on the chain’s new partnership with CVS Health in a Q&A on Target’s blog, A Bullseye View. Here are some excerpts:
CST Brands acquires OneStop, moves stores to partnership

San Antonio, Texas — CST Brands Inc., through its CrossAmerica Partners LP wholly-owned subsidiary, has acquired the Charleston, West Virginia-based One Stop convenience store network. CST is also moving 29 recently constructed stores into its wholly-owned CrossAmerica partnership via two “dropdown” transactions.
Pep Boys names Hertz veteran as CEO

Philadelphia — The Pep Boys: Manny, Moe & Jack named Hertz Corp. veteran Scott P. Sider, 54, as its new CEO, effective June 15. He most recently served as group president of Hertz Corporation’s largest division, Rent A Car Americas, with over 3,200 locations.

The announcement comes more than eight months after Pep Boys CEO Michael Odell resigned on the heels of disappointing second quarter earnings.
Hudson’s Bay goes global, will buy German department store chain from Metro

Toronto, Canada —Hudson’s Bay Company (HBC) is positioning itself for major global expansion with the purchase of the 15-year-old Galeria Kaufhof department store chain from German retail conglomerate Metro Group for about $3.17 billion. The planned purchase includes 103 Galeria Kaufof stores in Germany, as well as 16 German Sportarena stores and 16 Galeria Inno department stores in Belgium.