Corporate Governance

Ron Johnson launching start-up that helps online shoppers choose products
New York -- The cat is finally out of the bag. Former J.C. Penney CEO and Apple retail head Ron Johnson confirmed that he is launching a new company—but it’s not a tech-gadget delivery service as was widely rumored. Instead, the new initiative, set to launch in 2015, is designed to help online hoppers make the right product choices.
Expenses reduce Aaron’s net income; plans 142 new stores over next several years
Atlanta –- Aaron’s Inc.reported that its third quarter income fell 55% to $9.3 million, from $21.1 million the same quarter the prior year, amid expenses related to store closings, corporate realignment, executive retirements, the resolution of a regulatory investigation and the purchase of Progressive Finance Holdings. Revenues increased 32% to $707.6 million compared to $537.2 million, aided by the addition of Progressive revenue.

Bond No.9 transforms Manhattan store with Versailles-inspired design

New York -- Fragrance marketer Bond No. 9’s flagship in downtown Manahttan has undergone a total redesign, with the interior modeled on a 21st century version of the Palace of Versailles’ Hall of Mirrors.
Wal-Mart names veteran exec as India COO

New Delhi, India –- Wal-Mart Stores Inc. has named Murali Lanka as COO of its Indian operation effective Dec. 1. Lanka has held various positions with Wal-Mart and Sam’s Club since 1989 and served as head of operations of Wal-Mart India from 2008-2013, and most recently held the position of regional general manager for Wal-Mart in Texas.
PayPal Canada launches Passport small business tool

Toronto -- PayPal Canada is launching PassPort, a website designed to help small businesses sell internationally. On the PassPort website, entrepreneurs can find export market specific guidance on seasonal sales peaks including holidays and events; cultural customs, taboos and trends; shipping and distribution logistics; currency exchange and fees; and customs procedures and taxes.
Tech Viewpoint: Responding to Online Shopping Store by Store

By Bill Bishop, Brick Meets Click Online food shopping has grown slowly until now, but it’s about to pick up speed. In fact, momentum is so strong, Brick Meets Click now projects online grocery will exceed 10% of total grocery sales in many larger markets by 2020. For some areas in the US, online grocery spending has already reached 6% or higher.
Exclusive: Brands to Watch

Learn about emerging brands on the cusp of break-out success and formerly solid brands in need of a reset in this exclusive report, More Climbers & Fallers.
Amazon Q3 loss widens to $437 million; sales up 20% to $20.58 billion

Seattle -- The red ink got worse at Amazon in its third quarter as the Internet giant reported a net loss of $437 million in the third quarter, worse than analysts expected, compared with a net loss of $41 million in the year-ago period.
Report: Sears closing more stores

New York -- Investor website Seeking Alpha reported on Thursday that Sears Holdings Corp. is closing more than 100 stores and laying off at least 5,457 employees. The report, which Sears said was inaccurate, said the shutterings include 30 Sears stores, 31 Sears Auto Centers and 46 Kmart stores.
Snagajob: Seasonal retail workers average $10.30 per hour

Richmond, Va. -- Employers in the hospitality industry will pay the highest average wage for holiday employees at $11.80 per hour, followed by retail at $10.30, and food service at $9.40, according to a survey by Snagajob, which provides recruitment and hiring solutions to the hourly industry.
Gap continues global expansion with first Old Navy stores in the Middle East

San Francisco -- Gap Inc. announced it has signed agreements to open Old Navy stores in six Middle Eastern countries with franchisees Fawaz A. Alhokair & Co. and Azadea beginning spring 2015. The first markets include U.A.E., Kuwait, Qatar and Saudi Arabia. This is the second franchise market expansion for Old Navy. In March of this year, the brand opened its first franchise-operated stores in the Philippines.
Build-A-Bear Workshop swings to Q3 profit; plans holiday pop-ups in Macy’s

St. Louis –- Build-A-Bear Workshop Inc. swung to a profit in the third quarter of fiscal 2014 from a loss in the same quarter a year earlier. The retailer also announced that will open five pop-up stores for the 2014 holiday season, including one in Macy’s Herald Square flagship in New York City, and its State Street location in Chicago.