Corporate Governance

GameStop is trying to boost the number of its stores by bidding on 163 leases from RadioShack Corp, according to Bloomberg.

The news service reports that Spring Communications, the wireless unit of GameStop, submitted and won a significant bid for the leases.

The recently merged Albertsons and Safeway organization has appointed Justin Dye as chief administrative officer of the combined company.   Lee Wilson, who previously held this position with the company, has elected to stay in his role as consultant and not go forward as an officer with the newly combined organization.  

Kohl’s is sponsoring a Milwaukee-area school grant program for the third year in a row.   The Kohl’s Cares Field Trip Grant Program gives more than $1 million in funding to schools throughout the metro-Milwaukee area.  

A new e-commerce startup is aiming to shift the paradigm in the world of online shopping with the release of a customizable deal dashboard.   Mytotefish.com offers a dashboard for users to organize their favorite stores (including coupons, sales and shipping deals) in one centralized location.   

The 2,200 store Bridgestone Retail Operations group is refining its approach to a key supplier relationship with a new deal involving Shell Lubricants Americas.

Beginning Jan. 1, 2016, Bridgestone Retail Operations (BSRO) said Shell would serve as its supplier of choice for automotive lubricants at the company’s more than 2,200 U.S. tire and automotive service centers.

By John Orr, Ceridian

With the Affordable Care Act, employers’ new reality is here, right now — and contrasts starkly with the past: Retailers that run payroll, time and attendance, scheduling, and benefits administration the way they used to will probably run afoul of the Employer Mandate, also known as “Play or Pay.”

Menomonee Falls, Wis. -- Kohl's Corp. reported better-than-expected profit for its fourth-quarter profit, helped by strong holiday sales.
 
The retailer earned $369 million for the quarter ended Jan. 31, up from $334 million a year ago.

Total sales were up 3.9% to $6.34 billion from $6.1 billion in the year-ago period, also better than expected. Same-store sales increased 3.7%, a significant improvement after five straight quarters of decline.

Plano, Texas -- J.C. Penney swung to an unexpected loss in its fourth quarter amid heavy holiday discounter. But the retailer reported strong, better-than-expected sales, particularly on the online front.  

Penney posted a loss of $59 million for the quarter ended Jan. 31, compared to a profit of $35 million in the year-ago period. (Penney benefitted from a one-time tax benefit last year.)
 
Total sales rose 2.9% to $3.89 billion from $3.78 billion a year ago. Online sales rose 12.5% to $428 million from a year ago.

Hoffman Estates, Ill. -- Sears Holdings Co. on Thursday reported its 11th consecutive quarterly loss, posting a loss of $159 million for the fourth quarter, down from loss of $358 in the year-ago period, amid cost reductions.

The struggling chain saw its losses for the full year widen to $1.7 billion from $1.4 billion, marking its fourth straight year of decline. Total long-term debt rose to $3.2 billion from $2.9 billion a year earlier.

New York – Retail CEOs have a lot of worries on their minds. According to a new survey of CEOs from PwC, 74% of retail CEOs are nervous about shifting consumer spending patterns, and 59% are nervous about the disruptive potential of new distribution channels. Nearly half (47%) are nervous about the pace at which technology is evolving.