Corporate Governance

Wal-Mart to open Neighborhood Market in Virginia center
Bentonville, Ark. – Wal-Mart Stores Inc. has signed a 42,000-sq.-ft. lease to open a Neighborhood Market at Nor-Dan Shopping Center in Danville, Virginia. The store is planned to open in 2016 and will employ approximately 95 people.

Nor-Dan Shopping Center is a 161,428-sq.-ft. community center anchored by Big Lots and It's Fashion Metro, operated by Phillips Edison & Co.
Dunkin’ Donuts seeks new franchise stores in Alabama, Mississippi
Canton, Mass. – Dunkin’ Donuts is recruiting franchisees to develop an estimated 10-plus new Dunkin' Donuts restaurants throughout Mobile, Alabama, and Biloxi and Jackson, Mississippi. In addition, a number of existing operating restaurants may be available for purchase.

Shake Shack reopens New York flagship May 20

New York – Shake Shack Inc. is reopening its original Madison Square Park flagship restaurant in New York on May 20. The new and improved Shake Shack store has the exact same look and feel, rebuilt to last for many years to come.
Report: Restoration Hardware to open largest U.S. store in Las Vegas

Corte Madera, Calif. - RH (Restoration Hardware Holdings Inc.) is reportedly planning to open a more than 70,000-sq.-ft. RH Gallery format store at the Tivoli Village upscale shopping center in Las Vegas. According to the Las Vegas Review Journal, the store would be the largest Restoration Hardware location in the U.S.
BCG Partners buys Excess Space real estate services firm

New York - BGC Partners Inc., a global brokerage company servicing the financial and real estate markets, has entered into an agreement to acquire Excess Space Retail Services Inc. Excess Space is a premier provider of real estate disposition, lease restructuring and lease renewal services, as well as related valuations for retailers nationwide and currently advises on 35.6 million-sq.-ft. of retail space in North America.
Tech Bytes: Three Technologies Poised to Disrupt Future of Retail

A lot of attention has been paid to a variety of technologies currently disrupting retail, like beacons and wearable devices. Here are three technologies still in the development phase that hold potential to radically disrupt retail, and even life as we know it, in the next 10 years:

Quantum Computing
RH names real estate chief

Corte Madera, Calif. - David Stanchak has joined RH (Restoration Hardware Holdings Inc.) as chief real estate and development officer, effective immediately. In this newly created position, Stanchak will be leading the transformation of RH’s current legacy galleries into next generation Design Galleries, with responsibility for the company's real estate and store development efforts.

Stanchak will report to RH’s chairman and CEO Gary Friedman, and serve as a member of the company’s executive leadership team.
Ralph Lauren board member resigns, consults with company

New York – Sean P. Murphy has been hired as a consultant to advise management regarding strategic and other business matters. As a result, Murphy has resigned from Ralph Lauren’s board of directors.

Murphy served on Ralph Lauren’s board since November 2005. He was the CEO of Christie’s International from September 2010 through December 2014. He previously served as the president and CEO of Rodale Inc. from 2002 to December 2009, and joined Rodale in 2000 as its president and COO.
Dover Saddlery net loss grows in Q1; will open five to seven stores

Littleton, Mass. – Dover Saddlery Inc. experienced an increase in net loss during the first quarter of fiscal 2015, seeing it jump to $776,000 from $543,000 the same quarter a year earlier. Total revenues rose 16% to $22.8 million from $19.7 million, and same-store sales rose 3%.
American Apparel sues Charney

Photo: Dov Charney

Los Angeles – In the latest set of dueling lawsuits to hit a major retailer, American Apparel is suing its founder and ousted CEO Dov Charney for violating a standstill agreement with the company. Standstill agreements typically limit the amount of stock in a company a party can buy during a certain period of time.
Rent-A-Center promotes two executives

Photo: Jonathan Parks
Report: Target to push some brands less

Minneapolis – Target Inc. does not want to be your father’s mass merchandiser. According to the Wall Street Journal, Target has informed established CPG companies including Campbell Soup, Kraft, General Mills and Kellogg Co. that it will promote their brands less to place more emphasis on brands that meet the changing preferences of modern consumers.