Corporate Governance

Zulily posts $1.2B in sales in 2014
Zulily achieved $1.2 billion in annual sales during 2014, but Wall Street was none too happy with that.

The flash-sale website operator expects first-quarter sales of $300 million to $320 million, compared with the $371 million estimate from analysts surveyed by Thomson Reuters. For the full year, it expects $1.5 billion to $1.65 billion, compared with an analyst estimate of $1.75 billion.
Holidays not very merry for Cabela's
The CEO of Cabela’s is blaming marketing costs for the company’s weaker earnings in the fourth quarter.

For the quarter, total revenue increased 7.2% to $1.3 billion; retail store revenue increased 13.9% to $810.6 million; direct revenue decreased 5.4% to $349.9 million; and financial services revenue increased 9.9% to $113.3 million. During the period, same store store sales decreased 5.5%.

Amex cutting 16-year ties with Costco

Costco shoppers may soon have other options for payment. American Express says it is ending its 16-year-old exclusive relationship with Costco next year.

Costco is one of the few big U.S. merchants that accepts only American Express cards. Cards branded by Visa Inc., MasterCard Inc. and Discover Financial Services can’t be used at its warehouse stores.
Shopko exec becomes new Jo-Ann CEO

Jo-Ann Fabric and Craft Stores has named a new chief executive after announcing the search for a new leader in August.

The company announced the appointment of Jill Soltau as president, chief executive officer and a member of the board of directors of the company, effective March 2. Jim Kerr, who served as interim CEO, will continue as EVP and CFO of the company.
Hhgregg sales focus on First Ladies

Hhgregg is taking a different approach to President’s Day promotions this year by focusing on the ladies –- the First Ladies, that is.
Staples targets small business customers

Staples is trying to attract more small business customers with a new service at the copy and print center.

Staples Design Services can help small business customers bring their brands to life, from concept to creation, with professionally designed logos and marketing materials.
Walmart Canada to open 29 supercenters

Wal-Mart Stores is giving a big boost to its Canadian operations even as Target shuts downs its failed Canadian venture.
GNC to open 125 new stores

GNC Holdings Inc. is looking to 2015 as a year of expansion. The retailer plans to open 125 total net new domestic and retail segment locations, and has plans for more.

The retailer also will open approximately 150 net new international franchise locations, and approximately 30 net new GNC-Rite Aid store-within-a-store locations.

GNC announced its store growth plans as part of its fourth quarter 2014 financial results. During the quarter, net income rose 9% to $51.77 million from $47.66 million. A decrease in interest expense drove the rise in profits.
NRF urges D.C. to act on ports

As the Pacific Maritime Association prepares to shut down U.S. West Coast ports from Feb. 13-16, the National Retail Federation (NRF) is issuing a public statement asking for direct White House intervention.
West Coast ports to shut down for four days over upcoming weekend

New York -- Shipping operations will be suspended at U.S. West Coast ports over the coming long weekend, the Pacific Maritime Association announced Wednesday. The planned shut down comes amid stalled labor talks between the companies and the union representing 20,000 dockworkers.
Report: Target lays off 550 headquarters employees as it exits Canada

New York -- Target Corp. plans to lay off about 550 headquarters employees as the company winds down its Canadian operations, the Star Tribune reported Wednesday. The retailer is also eliminating 170 positions at its tech operations in India that supported the Canadian venture.

About 350 of the headquarters job are being eliminated Wednesday, with the remaining employees to be let go after Target’s stores in Canada are liquidated.
Whole Foods Q1 profit tops forecasts as sales accelerate

Austin, Texas -- Whole Foods Market's value message is resonating with shoppers as the chain delivered same store sales growth of 4.5% and record first quarter profits as net income increased to $167 million from $158 million.

The retailer said sales for its first quarter ended Jan. 18 increased 10% to $4.67 billion due to the addition of new selling space and the increased productivity of existing stores reflected in the 4.5% comp increase, which pushed sales per square foot to $990.