Corporate Governance

Urban Outfitters Q4 profit falls but beats Street
Philadelphia – Net income fell at Urban Outfitters Inc. during the fourth quarter of fiscal 2014, but still beat Wall Street expectations.

Urban Outfitters reported net income of $80.3 million, down 9% from $88.68 million the same quarter a year earlier. Lower initial merchandise markups, increased markdowns and higher selling, general and administrative (SG&A) expenses all contributed to the decline.
Casey’s Q3 profit beats Street; plans 37 new stores, new DC
Ankeny, Iowa – Casey’s General Stores Inc. beat Wall Street estimates with net income of $39.2 million in the third quarter of fiscal 2014, more than triple $12.65 million earned in the year-ago period. Steady decline in wholesale fuel costs and rising inside sales helped Casey’s achieve impressive profit growth.

Casey’s currently has 26 new and 11 replacement stores under construction. The retailer’s annual goal is to build or acquire 72 to 108 stores and replace 25 existing stores.

Starbucks heads west with mobile payment

Seattle – American innovation has been heading west since the development of the extra-durable Conestoga wagon in the 1700s. On March 17, Starbucks will continue the pioneer tradition by expanding its mobile order & pay system to the Pacific Northwest.

The mobile payment feature allows Starbucks mobile app users to place their order in advance and pick it up at a selected Starbucks location. It is seamlessly integrated into the Starbucks app and loyalty program.
Consumer optimism falls with rising gas prices

Alexandria, Va. - Rising gas prices are taking a toll on consumer optimism about the economy. According to survey results released by the National Association of Convenience Stores (NACS), consumer optimism fell from 54% to 44%, the largest decrease in optimism since August 2014,
Lumber Liquidators spreads expanded showroom format

Toano, Va. – Lumber Liquidators has been making the wrong kind of headlines recently, but the specialty hardwood flooring retailer has some good news to share about its expanded showroom store format. Currently, nearly a third of Lumber Liquidators’ 350-plus store locations have implemented the expanded showroom and that number will continue to rise throughout the next several years.
FullBeauty Brands renews credit, loyalty agreement with Alliance Data

New York – Specialty apparel retailer FullBeauty Brands has signed a long-term renewal agreement to continue receiving private label credit card services from Alliance Data Systems Corp. Alliance Data will launch the newly branded credit card programs tailored for FullBeauty Brands and work to enhance the company's long-term loyalty efforts through a new integrated rewards program.
In the Works: Four new retail concepts

New York -- New concepts remain the lifeblood of retail. Here are four currently in the works:

1. Ice hockey equipment manufacturer Bauer Hockey is throwing its puck in the retail arena. The company will open its first-ever store this summer, in the Boston suburb of Burlington, Massachusetts, followed by a second location in the fall, in the Minneapolis area.
BN still on the hook for Nook in Q3

As Barnes & Noble tries to write a new, more profitable chapter by spinning off its college division, the company reported that its Nook division is still weighing on revenue.

The company said same store sales at Barnes & Noble Inc. (excluding Nook) increased 1.7% in the third quarter, which ended Jan. 31. Analysts had estimated a 1% decline. Taking Nook sales into account, same store sales declined .3%. Third quarter revenue of $1.96 billion declined $35 million as compared to the prior year.
Staples launches omnichannel service aimed at small business

Staples is expanding its omnichannel capabilities with a new service that hopes to take advantage of small business growth in 2015.

According to a new Staples survey conducted by Research Now, the majority of small business leaders (87%) are optimistic about the year ahead. To help small business customers drive growth in 2015, Staples has launched Print-to-Store.
Cleared for takeoff: Macy’s to grow beauty brand

Faced with dwindling expansion opportunities for traditional department stores, Macy is looking to significantly grow standalone beauty stores following its recently completed acquisition of the 60 unit specialty beauty retailer Bluemercury.
Lowe's raises walls with a six-time NASCAR winner

The decade-old team effort between Lowe's and Habitat for Humanity was on display again this month in Las Vegas, but this time, a six-time NASCAR Sprint Cup champion joined the team as well.

Jimmie Johnson worked together with Lowe’s employee volunteers and other volunteers from Habitat for Humanity Las Vegas to raise the walls of a new home at Las Vegas Motor Speedway during the Kobalt 400 race weekend.
E-commerce propels profits for Neiman Marcus

Neiman Marcus got a boost in the second quarter from its October purchase of mytheresa.com, a German luxury e-retailer.

For the 13 weeks ended Jan. 31, the company reported a profit of $27.8 million, compared with a year-earlier loss of $84 million. Revenue grew to $1.52 billion from $1.43 billion in the prior-year period. Sales at stores open more than a year and online rose 5.6%.