Corporate Governance

Kurt Salmon, a global management consulting firm, has appointed Brian Ehrig partner in its Retail and Consumer Products Group.

Ehrig has spent the last 16 years creating new operational strategies and product offerings for retail and CPG companies, as well as leading transformation projects, including those for new market entrances and involving new retail concepts. 

In the rapidly changing landscape for payments, market leader Vantiv is changing more rapidly than most as evidenced by dramatic growth in its transaction volume, revenues and profits.

Each of those measures surged during the company’s third quarter ended September 30. Thanks in large part to acquisitions, transaction volume in the merchant service group increased 31% which caused net revenue to increase 42% to $297.7 million. The company’s total revenue increased 31% to $697.1 million while adjusted net income increased 21% to $96.9 million, or 49 cents a share.

San Francisco -- Ben & Jerry’s has opened its largest flagship to date, a 3,000-sq.-ft., two-story location in São Paulo, Brazil.     Designed by Tesser, a San Francisco strategic branding and design firm, the property showcases the company's social mission along with its iconic ice cream treats.   

San Francisco -- Ben & Jerry’s has opened its largest flagship to date, a 3,000-sq.-ft., two-story location in São Paulo, Brazil.     Designed by Tesser, a San Francisco strategic branding and design firm, the property showcases the company's social mission along with its iconic ice cream treats.   

Dallas –- Tuesday Morning Corp. cut its net loss almost in half to $6.23 million in the first quarter of fiscal 2015 from $12 million in the same period the prior fiscal year. Net sales increased 10% to $202.2 million, compared to $183.7 million.    Same-store sales increased 11%. The retailer credited the turnaround phase of its ongoing transformation program for creating the generally encouraging results.  

Seattle -– Starbucks Corp. is planning to launch a coffee delivery service in select U.S cities in 2015, the company said during its quarterly investors’ conference call on Oct. 30. The new service will be available to loyalty program members using the chain’s new mobile app.    Starbucks gave few specific details about the service, but the new app, allowing users to order and pay for items, will launch in Portland in December and in other U.S. markets in 2015. 

New York -- Canadian consumer electronics retailer Future Shop, a subsidiary of Best Buy, will open its third small-format store, in Cornwall, Ontario, in November. The 8,000-sq.-ft. store  represents the evolution of its small-format that focuses on providing integration between in-store and online and a seamless customer experience. The updates layout features an open view to the back warehouse, a modernized esthetic and a creative use of warm colours that all contribute to an inviting shopping experience.

Sunbury, Penn. –- Weis Markets Inc. reported net income of $13.7 million in the third quarter of fiscal 2014, a 17% increase from $11.7 million in the same period a year earlier. The elimination of a one-time severance charge and impairment charge from the loss of four properties helped boost net income for the quarter.   Net sales increased 3% to $683.9 million from $661.4 million, while its same-store sales increased 2.6%.   

Nashville, Tenn. –- Rent-A-Center has offered to pay for the shipping of the first container of relief supplies as part of the #RetailFightsEbola campaign. RetailFightsEbola is a campaign to combat the spread of Ebola in Liberia launched by Retail Orphan Initiative (RetailROI).   The campaign is rallying retailers, manufacturers and individuals to provide much needed medical and hygienic supplies to Liberia.  

Arlington, Va. -- The Retail Industry Leaders Association (RILA) and a group of merchant associations have sent a letter on the state of cybersecurity in the U.S. and how the payments system works in a letter to the Credit Union National Association (CUNA) and the National Association of Federal Credit Unions (NAFCU). The letter dispels what the merchant groups say are many misconceptions the credit unions have been driving regarding recent cyberattacks and the response by retailers and financial institutions.