Corporate Governance

Los Angeles – Frederick’s of Hollywood is reportedly closing at least 31 of its 93 stores as part of a broader re-engineering effort. According to the Wall Street Journal, Great American Group is overseeing liquidation sales at 31 stores, including the flagship location in Los Angeles.

Jackson, Miss. – Fast-casual restaurant chain Newk's Eatery is expanding to Columbia, South Carolina, as part of growth plans that include nearly 30 new corporate and franchised stores in 2015. The Columbia expansion is in partnership with its newest franchisees, Chris and Pam Corn.

The Corns will open their first Newk's in City Market in the Vista in late 2015 and have plans to open two additional locations in Columbia and the surrounding area.

Deerfield, Ill. – Walgreens customers have a new resource for getting information on medication. Non-profit PatientsLikeMe is working with Walgreens to help make it easier for people to understand how the medications they take may affect them.

Now, consumers researching a medication or filling a prescription on Walgreens.com can access a snapshot that shows how their prescribed medication has impacted other patients on the therapy, including medication side effects, as reported by PatientsLikeMe members.
 

Fairfax, Va. – A competitive promotional environment and delivery problems had a negative impact on net income and revenues at Geeknet, parent company of online retailer ThinkGeek.com and licensed merchandise distributor ThinkGeek Solutions, during the fourth quarter and full year 2014. Net income for fourth quarter 2014 was $1 million, down 80% from net income of $5.1 million in the same period a year earlier.

Total revenue for fourth quarter 2014 was $72.4 million, a decrease of 3% from $74.3 million.

San Francisco – A labor dispute that had reduced the 29 West Coast ports, which handle close to half the consumer cargo in the U.S. down to 50%-60% capacity appears to be over. Late in the evening of Friday, Feb. 20, the Pacific Maritime Association (PMA) and the International Longshore and Warehouse Union (ILWU) reached a tentative agreement on a new five-year contract covering workers at all 29 West Coast ports.
 

Target is raising the stakes in the free online shipping game by undercutting not only Walmart but now also Amazon.com.

Target announced it has lowered the threshold for free shipping on online orders to $25, making it among the most competitive among major retailers. Its previous free-shipping minimum was $50, which placed it in the higher end of the spectrum.

PetSmart is hoping to stand out in the pet category with a new marketing campaign that celebrates “pethood.”

The campaign, called "Petsmart Partners in Pethood," explores how having a pet can be similar to having a child -- from potty training to feeding, bathing to doctors visits.

The National Retail Federation and the Retail Industry Leaders Association are celebrating a tentative agreement on a labor dispute that caused problems at 29 West Coast ports.

Retailers have warned for months that the impasse in negotiations was creating an economic challenge, and that a full-scale strike would negatively impact the entire American economy. Farmers and manufacturers were also reporting a heavy toll as agriculture exports suffered and part shortages were leading to factory slowdowns for some automakers.

Walgreens is opening a massive new store, the drug chain's 15th flagship, in Honolulu, Hawaii.

The new store is 35,000-plus feet and is Walgreens' 12th store on Oahu and 18th in Hawaii.

The store also boasts culturally inspired design reflective of elements of traditional Hawaiian architecture, as well as components of the natural landscape.