Corporate Governance

Schnuck Markets to build state-of-art DC
St. Louis -- Schnuck Markets will begin construction of a new estimated $100 million, state-of-the-art distribution center at NorthPark in Kinloch in north St. Louis County. The 915,000-sq.-ft. center is expected to be completed in summer 2016.
Big Shopping Centers in joint venture partnership with Red Development
Phoenix -- Big Shopping Centers USA and Red Development have announced a joint venture partnership to maximize market presence and performance of select U.S. retail properties in the Midwest and West. The alliance seeks to acquire established, first-tier community, lifestyle and power centers with strong tenant line-ups and sales figures that are well positioned in markets throughout the United States.

Warby Parker continues to expand, opens store in Chicago

New York -- Hip online eyewear retailer Warby Parker continues its brick-and-mortar expansion. The company has opened its 12th store to date, in Chicago’s Lincoln Park neighborhood.

The 2,200-sq.-ft. store is Warby Parker’s first permanent location in the Midwest. It joins locations in cities across the nation, including such as New York, Miami, Dallas and Los Angeles.
Alibaba names new CEO

New York -- Alibaba Group Holding Limited on Thursday announced that its CEO, Jonathan Lu, will step down and will be replaced by COO Daniel Zhang, effective May 10. Lu will remain on the company's board as vice chairman.
Early Easter takes bite out April sales

New York -- An early Easter that drew shoppers into stores in March and slowing economic growth helped cut into retailers’ April sales results.

At Costco Wholesale Corp., April same-store sales were flat, slightly below analysts’ estimates, primarily due to the strong U.S. dollar and lower gas prices. Sales at U.S. stores increased 2% for the four weeks ended May 3. Internationally, sales fell 4%.

Total revenue inched up 2% to $8.75 billion.
Loehmann’s taps e-commerce expert as brand looks to relaunch as online company

New York -- Off-price retailer Loehmann's announced that Jeffrey Cripe is joining the Loehmann's advisory board, as the company builds its online marketplace. Founded in 1921, the company closed its brick-and-mortar stores after its bankruptcy in 2013. Now under new ownership, the brand is being expanded online.
HRC Advisory names Farla Efros president

Chicago -- HRC Advisory, a strategic retail advisory firm and unit of Hilco Global, announced that it has promoted Farla Efros, an accomplished retailing and merchandising strategist, to the position of president. She will continue to report to Antony Karabus, CEO of HRC Advisory.
Kohl's rolls out buy online, pick up in store service to all stores

New York -- Kohl’s Corp. has rolled out a buy online, pick-up in store service to all Kohl’s stores nationwide, allowing customers to pick up their orders within hours at their local Kohl’s store.
H&M opening its largest store to date, 63,000-sq.-ft. flagship in Manhattan

New York -- H&M will open its largest store in the world, in Manhattan’s Herald Center, on May 20. The 63,000-sq.-ft. store, located at the southwest corner of 34th Street where Broadway and Avenue of the Americas converge, will be the fast-fashion giant’s 13th location in Manhattan. To celebrate opening day, music superstar John Legend will perform and cut the ribbon and twenty lucky winners will be chosen at random for a meet and greet.
Gordon Brothers, Hilco start closing Simply Fashion and Dots stores

Boston -- Gordon Brothers Group and Hilco Merchant Resources announced that they will begin going-out-of-business sales at Simply Fashion and Dots retail locations nationwide beginning May 7.
Educating Consumers About EMV is a Community Effort

By Bobby Koscheski, ACI Worldwide

EMV compliance is coming and when it hits, it will change the way payments happen across America. Today, when consumers make non-cash purchases at any number of their favorite merchants in the U.S., they stand in front of payment terminals, swipe their cards and follow the on-screen prompts. EMV will require new payment processes that, while seemingly small to those instituting the change, require a shift in behavior that could feel monumental to consumers.
Whole Foods to debut new store concept in 2016 targeting millenials

Austin, Texas -- Whole Foods Market on Wednesday announced plans to debut a new store format targeted at millenials. The company said the stores are expected to begin opening next year, and the expansion will be “fairly rapid.” It did not reveal the name of the new banner.