Corporate Governance

Toano, Va. –- Lumber Liquidators missed Wall Street estimates for both net income and sales for the third quarter of fiscal 2014.    Net income totaled $15.7 million, down 23% from $20.4 million in the year ago period, amid higher expenses. Net sales rose 5% to $266.1 million from $254.3 million. Same-store sales dropped 4.9%, although they improved each month in the quarter as more inventory became available.  

West Chester, Penn. –- QVC Inc. has promoted Mary Campbell to the position of executive VP, US commerce platforms. Sheis responsible for guiding the strategic direction of the company's TV, web, mobile, tablet and social while translating the QVC brand across all platforms to drive customer engagement and e-commerce sales.   Since joining QVC in 1991, Campbell has held leadership roles across the business, including merchandising, planning and commerce platforms.

Sunnyvale, Calif. –- Strong mobile revenue and proceeds from the sale of a portion of its stake in Alibaba Group Holding Ltd. helped Yahoo Inc. beat Wall Street estimates for earnings per share (EPS) and revenue in the third quarter of fiscal 2014. EPS totaled $0.52, up 62% from $0.32 the same quarter the prior fiscal year, and revenue grew 1% to $1.15 billion from $1.14 billion.  

Irvine, Calif. -- Toshiba Global Commerce Solutions will resell Motorola retail solutions including mobile computers, wireless network solutions, bar code scanners and the MP6000 multi-plane bioptic imager and accessories. Toshiba has signed Motorola Solutions’ Global Systems Integrator Agreement and is now a member of Motorola's PartnerEmpower program.   

Oak Brook, Ill. -- Retail Properties of America, Inc. announced that it was assigned a BBB-corporate credit rating from Standard and Poor’s Ratings Services with a stable outlook.    S&P indicated in its announcement that the rating reflects RPAI’s measured investment and operating strategy, and strengthening portfolio fundamentals.   

Dallas -- SRS Real Estate Partners announced that two of its brokers have been recognized by their client, Carter’s, for bringing the two most profitable locations nationwide based on a sales-to-rent ratio.

 

Dawn Greiner, senior VP, and Carey Moen, first VP, both in the SRS Dallas/Ft. Worth office, helped Carter’s sign leases at the two locations. Greiner is the master broker for Carter’s and Moen is a part of the team of brokers that represent the retailer nationwide.

Berlin, Vt. -- The Berlin Mall, in Berlin, Vt., hosted the grand opening of the state’s first Walmart Supercenter on Wednesday. The location was previously a 65,000+-sq.-ft. Walmart store that added 26,200 sq. ft. and full-line grocery offerings to bring the retailer’s first supercenter to Vermont.  

New York -- Modell’s Sporting Goods will celebrate 125 years in business with the grand opening of its newest location at 1019 Montauk Highway in Shirley, Long Island, bringing the sporting goods chain’s total to 157 storefronts.     The 14,000-sq.-ft. Southport Shopping Center location will officially open on Thursday, Oct. 23 with a ribbon cutting by president and CEO Mitchell Modell and area officials.  

Santa Clara, Calif. –- Wal-Mart Stores Inc. is reportedly developing a new centralized approach to how it prioritizes and executes IT projects.    According to the Wall Street Journal, Wal-Mart will now consolidate all IT projects into a single portfolio overseen by CIO Karenann Terrell.