Corporate Governance

Study: Discounts are poor initial purchase incentive
Cambridge, Mass. — New customers whose first transaction involves a discount or special offer are 50% less likely to return to make a second purchase. According to a new study from loyalty technology provider Coherent Path Inc., customers who visit an e-commerce site for the first time and make a purchase at full-price are more than twice as likely to make a second visit.
Analysis: RadioShack pulls out the stops as it heads into holidays

KPMG: Cyber-security fears will affect holiday shopping

New York — More than half of consumers are either unsure or not confident at all in the security of their personal information when shopping both in-store (58%) and online (63%), which could impact holiday shopping, according to a new survey by KPMG. Twenty-seven percent of of respondents indicate they will only shop at a store that previously experienced a cyberattack if they cannot find the product elsewhere, with 8% refusing to shop at these stores all together.
HomeGoods joins Whole Foods in the Mayfair Collection

Chicago - HSA Commercial Real Estate announced that the firm has executed a 22,454-sq.-ft. lease with HomeGoods for the second phase of The Mayfair Collection, which is now under construction in Wauwatosa (Milwaukee), Wisconsin. HomeGoods will occupy the northern end cap of a building to be anchored by a 45,150-sq.-ft. Whole Foods Market.
Esplanade mixed-use property to undergo major renovation

Phoenix - The Esplanade mixed-use development on E. Camelback Road in Phoenix will under significant renovations beginning in first quarter of 2015, according to third-party manager CBRE.
Conference Board: Consumer confidence down unexpectedly in November

Washington - The Conference Board said Tuesday that consumer confidence in November fell to a reading of 88.7, down from a revised 94.1 in October. The drop, which surprised analysts, put the index at its lowest level since June. "Consumer confidence retreated in November, primarily due to reduced optimism in the short-term outlook,” said Lynn Franco, director of economic indicators, Conference Board.
Top five priciest retail rents in the world go to…

New York - Manhattan’s high-profile Fifth Avenue, at a whopping $3,550 per sq. ft., and Hong Kong’s Queen’s Road Central, at $2,073 per sq. ft., stand out as the most expensive retail rents in the world, according to Colliers International. Rounding out the top five are Hong Kong’s Canton Road, Manhattan’s Madison Avenue and Paris’ Champs Elysees. (See end of story for a more complete list.)
DSW tops Q3 expectations

Columbus, Ohio – DSW Inc. exceeded Wall Street expectations for net income and sales in the third quarter of fiscal 2014. Net income fell a less than expected 10% to $49.55 million from $54.96 million the same quarter a year earlier, with higher operating expenses and lower pretax income contributing to the decline. Sales totaled $670 million compared to $633 million and same-store sales rose 2.6%.
Chico’s swings to loss in Q3

Fort Myers, Fla. – Chico’s FAS Inc. reported a net loss of $28.5 million in the third quarter of fiscal 2014, compared to net income of $35.8 million in the third quarter of the previous fiscal year and below Wall Street predictions.
Fred’s turns red in Q3, will close 47 stores

Memphis, Tenn. – Fred’s Inc. swung to a net loss of $10.4 million in the third quarter of fiscal 2014, compared to net income of $7.3 million in the same quarter a year earlier. Costs associated with closing five underperforming stores in the third quarter, and an anticipated 47 stores in the fourth quarter, contributed to the loss, which exceeded Wall Street projections. However Fred’s beat the Street with third quarter sales of$476.2 million, up 3% from $460.5 million. Same-store sales rose 0.3%.
Store expansion Casey’s reveals $31.5 million tax error; plans 72-108 new stores

Iowa – Casey’s General Stores Inc. will revise its financial statements for fiscal years 2012, 2013 and 2014 and the first quarter of fiscal year 2015, due to a $31.5 million error in how it accounted for excise tax on sales of ethanol fuel.
Home Depot faces 44 breach-related suits

Atlanta - The Home Depot Inc. faces at least 44 lawsuits connected with a data breach that affected the retailer from April-September 2014. In a regulatory filing, the retailer said state and federal agencies are investigating the breach and more legal action is possible. The Home Depot also said ongoing breach-related investigation and litigation could affect operations and distract management, as well as incur additional unspecified costs and fines.