Corporate Governance

Grapevine, Texas – Gamers whose friends and family mistakenly gave them holiday gift cards for retailers that do not sell video games have a new option. GameStop is now exchanging unwanted gift cards from other retailers for a GameStop gift card online and in select stores.

Upon verifying the information and completing the transaction, a GameStop e-gift card is emailed if completed online or a gift card is given if the transaction is completed in-store. Customers can either use the gift cards at any U.S. GameStop store location or online.

New York – Brooks Brothers Group Inc. has selected the Asset Based Lending (ABL) Group of TD Bank as the joint lead arranger in a $250 million credit facility. The amount of TD’s commitment and terms of the financing were not disclosed.

Merrimack, N.H. - Brookstone is unveiling its "I Launched at Brookstone!" marketing campaign to promote new homegrown products, introduce the new tech products from startup companies, and meet startup companies looking for a way to bring their products to market. Brookstone is able to develop and market startup products with in-house design, packaging, marketing, retail, e-commerce and wholesale teams

Stamford, Conn. – High-end furniture and accessories retailer Lovesac has deployed NetSuite to run mission-critical business processes including financials/ERP, inventory and order management, CRM, and POS across its 60 stores in shopping malls across the U.S. All these processes are connected within NetSuite's single unified cloud solution.

Burlington, Mass. -- Demandware said that Abercrombie & Fitch Co. is using Demandware Commerce to power global expansion across Asia. The retailer recently launched 10 new e-commerce sites for its Abercrombie & Fitch and Hollister brands with the Demandware platform, serving China, Hong Kong, Japan, Singapore and Taiwan. All of the sites are mobile-optimized through responsive web design.

New York -- In a deal that will greatly expand its luxury reach, Coach Inc. will acquire upscale footwear brand Stuart Weitzman Holdings from private equity firm Sycamore Partners. Coach will make initial cash payments of approximately $530 million to Sycamore Partners, and, in addition, will pay the firm up to another to $44 million in contingent payments upon hitting “selected revenue targets” over the next three years.

As it seeks to further improve its digital interaction with customers, Walgreens has chosen Qualcomm as its partner for device connectivity with the drugstore chain's mobile and web applications, as well as its Balance Rewards program. 

E-commerce sales at HHgregg surged during what was an otherwise unhappy holiday season that saw sales fall 6 percent and the company's share price tumble after it withdrew a 2015 profit forecast.

For the third quarter, the company estimated net sales of $666 million, a decrease of approximately 6% as compared to the prior year quarter. Same store sales for the third quarter decreased approximately 6%, with the appliance category relatively flat. However, the company estimated that its e-commerce sales were up approximately 59% for the third quarter.

Department stores could be in for a fresh approach from Coach, following its announcement that it will acquire upscale footwear brand Stuart Weitzman.

Coach will make initial cash payments of approximately $530 million to Sycamore Partners, and, in addition, will pay the firm up to another to $44 million in contingent payments upon hitting “selected revenue targets” over the next three years.

Online warehouse club operator Green Polka Dot Box has a quirky name, but shoppers don’t seem to mind as the natural foods retailer’s December sales increased 65 percent.

"Based on early sales results, we anticipate that customer growth in this first month of the year will increase from the current level of approximately 4,200 to more than 6,000," said Rod Smith, CEO of the company. "And that we will see corresponding increases in monthly sales in January.”