Corporate Governance

Online consignment marketplace Swap.com is expanding into women’s clothing, shoes and accessories.

Executives with Swap.com said the new women’s collection will launch with more than 25,000 items.

“The expansion into women’s apparel is not just about making it easier for our customers to buy and sell their gently loved clothes and handbags,” said Jesse Gonzalez, merchandising manager at Swap.com. “It’s also about offering the fashionable looks that our customers love, at a better deal than you can find in-stores.”

Cary, N.C. -- The Pantry moved one step closer to its merger with Canada’s Alimentation Couche-Tard as Pantry stockholders approved the merger agreement at a special meeting on March 10.

The stockholders cast 19,725,407 votes for the deal and 71,442 votes against the deal, with 34,806 abstaining, according to documents The Pantry filed with the U.S. Securities & Exchange Commission (SEC).

Washington, D.C -- The International Council of Shopping Centers applauded the introduction by Senators Mike Enzi (R-WY), Dick Durbin (D-IL), Lamar Alexander (R-TN) and Heidi Heitkamp (D-ND) of the Marketplace Fairness Act of 2015 in the 114th Congress. This legislation is aimed at ending the special treatment afforded online-only sellers at the expense of brick-and-mortar retailers, according to ICSC. It tracks closely with legislation that the Senate passed by an overwhelming, bipartisan majority in 2013.

Dallas -- Neiman Marcus Group swung to a profit in the second quarter, helped by a 15% increase in online sales and its acquisition of Germany luxury online retailer MyTheresa.

The upscale retailer reported a profit of $27.8 million in the quarter ended Jan. 31, compared with a loss of $84.0 million in the year-ago period. (Neiman’s loss last year was partially credited to expenses related to

Revenue grew to $1.52 billion from $1.43 billion in the prior-year period. Same-store sales and online sales rose 5.6%.

New York – Cost-cutting and margin improvement in the struggling Nook e-reader segment helped Barnes & Noble Inc. boost consolidated net earnings 14% to $72 million in the third quarter of fiscal 2015, compared to $63 million in the year-ago period.    

Consolidated revenue slipped 1% to $1.39 billion from $1.4 billion. Same store sales at Barnes & Noble Inc. (excluding Nook) increased 1.7%.

Camp Hill, Pa. — For the first time in five years, Rite Aid on Tuesday celebrated a grand opening of a store built from the ground-up.
 

Grapevine, Texas – GameStop Corp. is launching a nationwide rollout of Apple Pay to its more than 4,200 U.S. video game stores this month. In GameStop stores, Apple Pay will work with the iPhone 6, iPhone 6 Plus and the upcoming Apple Watch.

Framingham, Mass. - The majority of small business leaders (87%) are optimistic about the year ahead. According to a recent Staples small business survey conducted online by Research Now, leaders are focused on results, with the top three small business goals in 2015 consisting of increasing revenue (76%), driving profits (70%) and gaining more customers (70%).

Promotional marketing (46%), better organization (38%) and software technology upgrades (35%) are the top tactics small businesses plan to use to meet these goals.

There has been a lot of discussion in the last several years about the strength of the grocery sector. I think it’s clear that a big reason behind that success has been the evolution of different formats and the explosive growth of a new generation of grocery concepts that represent a significant departure from the traditional grocery model.

Philadelphia -- Tween and teen retailer Five Below will open three stores in Alabama, its first ever in the state, on March 13.

The stores, which average 7,500 sq.-ft. each, are located in Huntsville, Florence and Gadsden.

"Entering Alabama is an important next step as we continue to grow our footprint across the country," said Joel Anderson, CEO of Five Below. "We're excited to open the first of what we hope to be many stores in this great state.”