Corporate Governance

Morrisville, N.C. — Jewelry retailer Charles & Covard Ltd. has appointed Jaqui Lividini and Suzanne Miglucci to serve on the company’s board of directors. Lividini previously served as senior VP fashion merchandising & communications at Saks Fifth Avenue and has served as CEO and founding partner of brand strategy company Lividini & Co. since 2005.

Miglucci previously served as senior director of global procurement solution marketing for SAP and has served as chief marketing officer of ChannelAdvisor Corp. since June 2012.

The Fresh Market is not so fresh anymore to shoppers, if the retailer's second quarter results are any indication.

The upscale grocery chain reported that same-store sales decreased 1% for the second quarter ended July 26, and the retailer expects an even bigger decrease in the next quarter, both below analysts' estimates. 

The company reported 36 cents EPS for the quarter, missing analysts’ estimates of 40 cents. Net income rose 53.5% to $17.5 million, while net sales increased 4.7% to $442.1 million. 

Omaha, Neb. — Gordmans Stores Inc. was able to reduce its net loss in the third quarter of fiscal 2015 as a result of gross margin improvements. Net loss totaled $3.03 million, compared to $3.19 million the same quarter a year earlier.

Net sales increased 2% to $143.4 million from $141 million Same-store sales dropped 1.6%, negatively impacted due to a sales tax holiday shift from July to August.

Gordmans intends to open two additional new stores in the third quarter of 2015 and close one store later this year when the lease term expires.

Dublin, Calif. — Ross Stores Inc. surpassed Wall Street expectations for profit and revenue in a successful second quarter of fiscal 2015. Net earnings rose 8% to $259 million from $240 million the same quarter the prior fiscal year.

Sales rose 9% to $2.97 billion from $2.73 billion, with same-store sales up 4%

New York – Foot Locker Inc. scored big in the second quarter of fiscal 2015 with profit and sales that exceeded Wall Street expectations. Net income was $119 million, a 33% increase from $92 million the same period the prior year.   Total sales climbed 3% to $1.69 billion from $1.64 billion. Same-store sales grew 9.6%. Falling selling, general and administrative (SG&A) expenses aided profit growth, while foreign currency fluctuation had a negative impact on sales growth.  

Cyber security professionals have somewhat resigned themselves to the fact that data breaches are inevitable and placed an emphasis on how to manage a highly fluid situation.

After last year’s large retail data breaches, the industry has doubled-down on efforts to protect customer records. Most retailers now have data breach response teams in place and leaders have called for increased industry collaboration on cybersecurity. However, the threats continue to evolve and effectively managing security incidents requires constant evaluation.

Livonia, Mich. - Pet Supplies Plus, a retail pet supply business with 320 stores in 25 states, positions itself as a smaller, convenient alternative to big-box competitors. Success requires proper product assortment always being available through all channels.

Michael Leedy, chief marketing officer of American Eagle Outfitters Inc., will step down from his position effective Sept. 15. The company has an active search for a successor underway.

Leedy has committed to serve in an advisory role if needed to ensure a smooth transition. American Eagle did not comment on the reason for Leedy’s departure, and his LinkedIn profile still indicates he works there.