Corporate Governance

Coach says increased demand for its merchandise and fewer discounts led the luxury goods maker and retailer to report increased profit in the first quarter despite a steep 9.5% drop in same-store sales.

The company said that for the first quarter ended Sept. 26, earnings were 41 cents a share (analysts expected 40 cents). Net income fell 19% to $96.4 million. Sales dropped 0.8% to $1.03 billion in the quarter, missing analysts’ $1.04 billion projection.

Velocity Retail Group, a full-service commercial real estate services company based in Phoenix, has secured a 10-year lease for Beall’s Outlet.

Beal’s Outlet will join the lineup at Westporte Village in Glendale, Arizona. The 23,600-sq.-ft. space is slated to open in November 2015. Velocity Retail Group VP Michael Clark and associate VPs Larry Miller and John Jackson represented the landlord. Newmark Grubb Knight Frank represented the tenant.

Walmart is launching a new initiative with InComm and Pursuant Health that allows health plans to promote health risk assessments at kiosks in Walmart stores.

InComm, a leading prepaid product and transaction services company, and Pursuant Health (formerly SoloHealth) announced the partnership at the 2015 Money 2020 Conference in Las Vegas.

Walgreens Boots Alliance and Rite Aid Tuesday evening announced that they have entered into a definitive agreement under which Walgreens Boots Alliance will acquire all outstanding shares of Rite Aid for $9 per share in cash, for a total enterprise value of approximately $17.2 billion, including acquired net debt.

Two leading retailers highlighted different aspects of their digital customer experience efforts at the recent SAP Retail Forum in Miami.

Keri Stelle, director, Target Technology Services, said Target Corp. is trying to modify its entire corporate culture to respond to changing needs of the new digital customer in a session titled, “Who is the Evolving Target Guest?”

“It’s not just about Mom anymore,” said Stelle. “Today, the entire family wields influence over the retail purchase.”

REI has shocked the retail industry — and shoppers — with its decision to lock its doors on one of the biggest and most profitable shopping days of the year.

The retailer says it will be closed not only on Thanksgiving Day but also on Black Friday. REI.com will operate as normal on Thanksgiving. On Black Friday, REI.com will have a black takeover screen encouraging people to get outside. Customers will still be able to view product and make a purchase on Black Friday, but the order will not be processed until Saturday.

Walgreens Boots Alliance is in advanced talks to acquire Rite Aid in a deal that could be worth as much as $10 billion, according to a report published Tuesday by The Wall Street Journal.

The mobile payment arena keeps getting more crowded.

Two weeks after U.S. bank Capital One partnered with MasterCard and Visa to offer contactless mobile payment capability in its Capital One Wallet app, another major bank plans to offer a mobile payment app.

J.P. Morgan Chase & Co. is launching Chase Pay, a tokenized mobile payment service for in-store, in-app and online purchases. Interestingly, Chase is partnering with MCX, a retailer-backed mobile payment consortium, as its premier partner.