Corporate Governance

Low PC demand plagues Hhgregg
Sluggish traffic and weak performance in the consumer electronics segment led Hhgregg to post a 6.3% drop in same store sales in the third quarter.

The retailer reported a loss in profits from the prior year period and missed Wall Street expectations for both profit and revenue. Hhgregg posted a net loss of $86.9 million, compared to net income of $5.05 million, which was a wider loss than projected by analysts.
Can Walmart win Canada where Target lost?
Many U.S. retailers have difficulty being successful in the Great White North of Canada. Now that Target is exiting, can Walmart fill the gap? A new article suggests that it can, if Walmart works at it hard enough.

Financial blog The Motley Fool reports that Walmart can succeed where Target failed.

Holiday shoppers flock to Overstock.com

Overstock.com rode the wave of e-commerce during the holidays to an 18% increase in profits.

The online retailer said fourth-quarter revenues rose 18.3% to $470.4 million as the e-commerce heavyweight increased its average order size to $159.

The retailer also said its gross margin increased by 0.2% to 18.2% due to improved warehouse efficiency, lower inbound freight costs and reduced credit card fees.
Tractor Supply pulls off double-digit growth

Tractor Supply pulled off double-digit sales growth for the fourth quarter and full year ended Dec. 27, 2014, a picture that CEO Greg Sandfort attributed to balanced progress.
Jones NY closing all stores

Jones New York is closing all of its stores, discontinuing its wholesale business and will look at strategic alternatives for its brand, the company said.

The women's clothing company said it is making the move after a review of its recent performance and outlook.
Toys 'R' Us kicks off Special Olympics drive

Toys "R" Us is expanding its partnership with the Special Olympics with a whopping $1.25 million commitment toward sponsoring the 2015 Special Olympics World Games.

The Games, which will welcome 7,000 athletes and 3,000 coaches representing 177 countries, to Los Angeles, Calif., from July 25 to Aug. 2, is the flagship event of the Special Olympics and biggest sporting event of the year. The 2015 World Games marks the first time in 16 years that the Summer World Games have been held in the United States.
More executive changes at Gap Inc.

Gap Inc. has implemented yet another management shake-up, this time eliminating its creative director.

Rebecca Bay, whom the apparel retailer brought in from Hennes & Mauritz in September 2012 to help revive its namesake brand, has left the company.

The retailer also said that it has named Gap Inc. veteran Scott Key as general manager of customer experience, overseeing a newly created e-commerce and marketing organization, as the company aims to sharpen its focus on customers.
Amazon.com 'Primed' for a profitable 2015?

Amazon’s Prime membership seemed to be the golden ticket to stronger sales for the e-commerce giant in the fourth quarter.
Report: Sears cuts 115 corporate jobs

New York -- In its ongoing efforts to reduce costs, Sears Holding Corp. is cutting jobs.

The struggling retailer will cuts 115 jobs, including 100 at its Hoffman Estates, Illinois, headquarters, the Chicago Tribune reported.
For Retailers, Payments Trump Omnichannel

By Amy ter Haar
Lowe’s Canada to open 25 new stores

Toronto – Lowe’s Canada plans to open 25 new stores in Canada during the next three years. This includes three new stores set to open later this year in Lethbridge, Saskatoon and Sault Ste. Marie
Report: China criticizes Alibaba for fake merchandise

Hangzhou, China – The Chinese regulatory agency State Administration for Industry and Commerce (SAIC) has reportedly criticized Alibaba Group Holding Ltd. for not making enough effort to prevent the sale of counterfeit items on its e-commerce platform. According to the Wall Street Journal, the SAIC issued a report starting Alibaba offers insufficient product information and does not use an effective system to rank sellers.