Corporate Governance

Lumber Liquidators reported a first-quarter loss of $7.8 million and announced that its CFO is resigning as allegations over the quality of its flooring continues to affect the company.

In the quarter, the company swung to a loss of $7.8 million, or 29 cents per share, compared to net income of $13.7 million, or 49 cents per share, a year ago. Revenue of $260 million in the period met analysts’ forecasts. 

Foot Locker has signed a lease for a redesigned flagship store in the heart of Manhattan’s 34th Street corridor.

The new Foot Locker store will be located directly opposite Macy's world flagship store, at the intersection of Broadway, Avenue of the Americas and West 34th Street, where an estimated 100 million pedestrians pass by annually. Foot Locker will consolidate from three floors into 34,200 square feet on a portion of the ground floor and the entire second floor.

On the heels of Amazon’s B2B move, Staples is launching a marketing campaign to lure more small business customers. Staples says it will offer 40% off large posters, banners and lawn signs, and 50% off custom invitations and announcements through June 27.

While other retailers try to hone their social media and omnichannel skills, Victoria's Secret is creating excitement once again the way it knows best: by announcing a new team of crystal-decorated, 6-inch-heel wearing models.

The National Retail Federation issued a statement Wednesday supporting patent reform legislation seeking to protect retailers and other businesses from overly litigious patent trolls.

Glen Allen, Va. – Imagine being not only smart, but a billionaire as well. Smart mirrors are in this enviable position, according to a new study from industry analyst firm N-Tech Research.

Seattle – Amazon.com is launching yet another new marketplace. Amazon Business provides access to hundreds of millions of products, as well as business-only selection and pricing.

Amazon Business customers will also receive free two-day shipping on tens of millions of eligible items, multi-user business accounts, custom spending approval workflows, integration with third-party procurement solutions, automated tracking of tax exemptions, dedicated customer support, order tracking, and corporate credit options.

Irvine, Calif. – La Jolla Group, vertical retailer of multiple specialty apparel brands, knows a thing or two about keeping the bad guys out of its network. The company has been using Dell SonicWall TZ series firewall technology to ensure security at both corporate headquarters and its 18 retail stores.

Minneapolis – Net earnings at Supervalu Inc. fell 14% to $36 million in the fourth quarter of fiscal 2014 from $42 million in the identical period a year earlier. Higher selling and administrative expenses, including store closure and benefit costs, helped reduce profits.

Carle Place, N.Y. – Net loss at 1-800-Flowers.com Inc. grew to $10.81 million in the third quarter of fiscal 2015 from $1.74 million in the same quarter the prior year. Higher operating expenses in areas including marketing and sales and technology and development helped boost net loss.