Corporate Governance

Traffic troubles hurt Aaron's in 2014
Profit for rent-to-own giant Aaron’s, which has struggled with declining foot traffic and sluggish sales, fell 35% for 2014 and about 2.75% in the fourth quarter of last year.
J.C. Penney partners with InStyle on new in-store salon concept
Plano, Texas -- J.C. Penney is partnering with InStyle magazine to reinvent its 850 in-store salons nationwide in a move that could help the retailer pump up its volume and increase traction with younger shoppers. The new concept, called The Salon by InStyle, will make its debut in July, at 15 locations across Chicago, Dallas, Miami and Los Angeles.

RadioShack files Chapter 11 but brand to live on in deal with Standard General and Sprint

New York -- In an indication that the end could be getting close, RadioShack Corp. will close its distribution center in Hagerstown, Maryland, the Dallas Business Journal reported.

The move will result in some 87 layoffs.

The report cited the Maryland Department of Labor, Licensing and Regulation, which said the facility will close March 11. The news of the closing follows reports that the struggling chain is near to filing Chapter 11 bankruptcy protection.
GE Capital: 2015 retail industry trends

New York -- A mixed economic backdrop is expected to drive modest retail sales growth in the 3% to 4% range in 2015, compared to 5.5% average growth in 2010-2012 and 5.8% in 2002-2006, according to GE Capital. Low- and mid-income households will be particularly constrained by stagnant earnings despite improvements in employment status and the housing market as well as lower gas prices.

According to GE Capital, the key trends in retail include the following:
PwC: Retail mergers & acquisition activity hits five-year high in 2014

New York -- U.S. retail and consumer (R&C) total transaction value for 2014 hit a five-year high and surpassed the $100 billion mark for the second year in a row, according to PwC’s U.S. retail and consumer deals insights 2014 Year in Review and 2015 Outlook report.
Sally Beauty COO now in CEO role

Denton, Texas -- Sally Beauty Holdings announced that president and COO Chris Brickman succeeded Gary Winterhalter as CEO effective on Feb. 1. Winterhalter will continue to serve the company as executive chairman.

The changes are consistent with the company’s previously announced executive transition plan.
Orchard Supply Hardware opens three new stores

San Jose, Calif. -- Orchard Supply Hardware announced it has opened three new stores, including a location in Portland, Oregon, and two in California (Irvine, and Cerritos).

In addition to the 300 jobs these new stores have created, the retailer plans to hire an additional 1,000 associates as it prepares for the busy spring season, and to support its continuing growth.
Customer understanding key to retailer success

New York -- Customer analytics is a key component to retail success; CSA talked with Buxton's Bill Stinneford at NRF's Big Show in New York City about tech trends and the importance of understanding exactly who your customer is.

Watch video here.
West Coast Port slowdown could become shut down in less than a week

Arlington, Va. -- A breakdown in contract negotiations between labor and management at America’s west coast ports is threatening to turn a work slowdown into a full-scale strike, the Retail Industry Leaders Association (RILA) warned.
Report identifies online Canadian shoppers as top target for U.S. retailers

New York -- U.S. retailers seeking to grow business with online shoppers across country borders should look to Canada, according to a report by Borderfree, a provider of international cross-border ecommerce solutions.
Kirkland’s promotes COO to chief role on heels of strong holiday results

Nashville, Tenn. -- It’s a changing of the guard at Kirkland's. Following its successful holiday performance, the home goods company announced that current president and COO Mike Madden will step into the CEO role, effective Feb. 8. He succeeds Robert Alderson, who will remain on the company’s board, which is being expanded to accommodate his addition.
Gordon Bros., Hilco and Great American Group begin closing sales at Target Canada

Boston -- Three of the nation’s largest asset disposition companies were the successful bidders in the race to liquidate inventory at Target’s 133 Canadian locations.

Gordon Brothers Group, Hilco Global (through its Canadian division Merchant Retail Solutions) and affiliates of Great American Group secured approval from Target Canada and an order from a Canadian court to manage the store closing process for Target’s 133 Canadian locations, with store closing beginning February 5, 2015.