Corporate Governance

Ikea will open the largest Ikea store in the United States in Burbank, Calif., next year.

The new store, on 22 acres along Interstate 5 in Burbank, be 456,000 square feet (the biggest Ikea in the world, at 594,000 square feet, is in Stockholm). Plans include parking for 1,700 cars, "improved access and parking and a larger warehouse space," plus "50 'inspirational room-settings,' three model-home interiors, a supervised children's play area and a larger restaurant for serving Swedish specialties."

Milpitas, Calif. – Lowe’s Companies Inc. is strengthening its support of the ZWave wireless Internet of Things (IoT) standard.

Lowe’s has joined The Z-Wave Alliance, a global consortium of more than 325 member companies, with its Iris smart home solution.

Launched in July 2012, Iris by Lowe's is a smart home solution created to monitor and control virtually everything in the home anytime, anywhere from a computer, smart phone or tablet.

Nashville, Tenn. – Despite a late back to school season, Genesco Inc.’s profit and revenue beat the Street in the second quarter, helped by the strong performance of its Lids headgear division.

Genesco reported net earnings of $7.52 million, up 60% from $4.69 million the same period a year earlier and beyond Wall Street predictions. Improve pretax earnings, combined with lower income tax expense, perked up profit at Genesco Inc.

Net sales rose 6% to $655.52 million, from $615.47 million.

Los Angeles -- The nation’s largest privately held specialty premium coffee and tea retailer has a new chief.

The Coffee Bean & Tea Leaf named John Fuller as its new president and CEO. For the past five years, he served as president and CEO of The Johnny Rockets Group, where he directed operations for the multi-million dollar global restaurant chain, which spans 28 countries with 338 locations. Fuller left Johnny Rockets earlier this year.
 

A year after deciding to end tobacco sales, CVS Health on Thursday released new data from a CVS Health Research Institute study that shows a reduction in cigarette purchases over the past year.

Fairfax, Va. -- One of the Web’s leading “geek-gear” and collectibles retailer is going offline.

Online retailer ThinkGeek is partnering with its new owner, GameStop, to open a new store format focused entirely on collectibles. The first ThinkGeek store will open in the Florida Mall in Orlando, on Sept. 25, and additional stores are planned.

Washington, D.C. -- Edens announced that Mike Isabella, of Bravo TV’s “Top Chef” fame, will open his Kapnos Kouzina restaurant concept at Mosaic, Edens’ mixed-use development located in Fairfax County, Virginia. The restaurant is slated to open in early 2016.

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