Corporate Governance

The CEO of Lands End says the challenging retail environment and unseasonably warm weather did not help the company's turnaround plan in the third quarter. 

The online apparel retailer said that for the period ended Oct. 31, net revenue was $334.4 million, compared to $373.1 million in the third quarter last year. Net income was $10.7 million, compared to $18 million in the third quarter last year. 

Rockville, Md. -- Federal Realty Investment Trust announced the addition of Ramsey D. Meiser to the newly created position of senior VP of mixed-use development reporting to executive VP of development Donald Briggs.

The chief executives of H&M, Gap Inc. and five other apparel companies are urging world leaders to agree to a strong climate change deal.

The leaders say they fear global warming will drive up their costs by having a negative impact on cotton production, Reuters reported. 

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Ulta Beauty's formula of one-stop shopping for prestige, mass and salon beauty products continued to produce impressive sales and earnings growth in the third quarter.

Ulta' s net income increased 20.2% in the quarter, to a better-than-expected $71.1 million, from $59.1 million in the year-ago period. Total sales rose 22% to $910.7 million, also more than expected. Online sales surged 56.3% to $46.2 million. Same-store sales were up 12.8%, driven by a 10.6% increase in transactions and 2.2% growth in the average ticket.

American Express Serve announced this week that it and Rite Aid and Dollar General had joined forces to allow American Express Serve account holders to add money to their cards at the retailers’ locations around the country. The two companies join CVS/pharmacy, Family Dollar, Family Dollar, Walmart and 7-Eleven as places where customers can do a Free Cash Reload of their cards.

Dallas -- Trademark Property Co. begins construction on the unfinished parking garage at Victory Park in Dallas.

The construction is part of phase I redevelopment efforts and will add an additional 22,030 sq. ft. of street-level retail and restaurant space to Victory Park, as well as, a 2,600-sq.-ft. second-floor covered patio connected to a signature restaurant at the northeast corner of the garage, making two sided retail on Victory Park Lane a reality with in downtown Dallas. Completion is slated for summer 2016.

The nation’s largest supermarket operator reported profit that surpassed Wall Street expectations and raised its annual forecast.

Kroger Co.’s third-quarter earnings rose 18% to $428 million.

Revenue inched up 0.4% to $25.08 billion for the quarter, ended Nov. 7. missing Street forecasts of $25.22 billion. Kroger cited lower fuel prices as impacting sales.

Same-store sales, excluding fuel, rose 5.4%, more than expected. It was the chain’s 48th consecutive quarter of positive same-store sales growth (excluding fuel.)

Dollar General Corp. missed Wall Street projections for sales in its third quarter, but the chain came out on top again in its earnings. It also named a permanent CFO.