Corporate Governance

Hennes & Mauritz AB (H&M) is going green for its first store in Lower Manhattan.

The retailer will open a 25,000-sq.-ft. store at Westfield World Trade Center, set to open in spring 2016. It will be H&M’s 17th location in New York City, and its first U.S. store to apply for LEED (Leadership in Energy & Environmental Design) certification.

Target Corp. has tentatively reached another milestone in its continuing efforts to remediate financial losses caused by its massive 2013 data breach.

Target Corp. has tentatively reached another milestone in its continuing efforts to remediate financial losses caused by its massive 2013 data breach.

According to multiple media reports, Target has reached a settlement with MasterCard Inc. and a number of issuing banks. In papers filed in federal court in Minneapolis, Target said it would reimburse a total of $39 million in the settlement. That figure would include about $20 million for issuing banks not covered in other class action suits against Target and about $19 million to the MasterCard Account Data Compromise program.

Everything old is new again at American Eagle Outfitters, apparently with good reason.

The teen apparel retailer on Wednesday named Jay L. Schottenstein as CEO, effective immediately. Schottenstein, who has served as interim chief since January 2014, will also continue in his role as executive chairman of the board. The news of his appointment came as the retailer reported a strong increase in its third quarter earnings. It was the chain’s third consecutive quarter of increased sales and profits.

Wisconsin-based, 21-store grocery retailer Festival Foods takes food safety so seriously that it no longer thinks about it.

That’s because Festival Foods has chosen the food safety platform from ReposiTrak to automatically manage regulatory and business documentation compliance within its supply chain.

Save-A-Lot, the deep-discount division of grocery giant Supervalu, on Wednesday named a supermarket veteran with more than 30 years of experience as its new CEO. Eric Claus, 59, takes the reins of Save-A-Lot after spending the past two-plus years as chairman, president and CEO of Red Apple Stores Inc., a chain of value retail stores based in Canada.

The nation’s largest supermarket operator has been on a tear since 2014, increasing its portfolio through acquisitions, reports The Cincinnati Enquirer. “We could get more deals by Kroger – and we should get more deals, more stores and more growth,” Scott Mushkin, an analyst with Wolfe Research in New York, said in the report. [The Cincinnati Enquirer]

Supervalu on Wednesday announced Eric Claus has been named the CEO of Save-A-Lot, the company’s hard-discount grocery segment. Claus, 59, joins the company after spending the past two-plus years as the chairman, president and CEO of Red Apple Stores, a chain of value retail stores in Canada.