Corporate Governance

Fast-fashion giant H&M is adding another set of initials to its aggressive expansion plans. 

New York -- American Express Co and Costco Wholesale Corp. are at it again.

A lawsuit has been filed accusing American Express of misleading investors about the loss of its contract with Costco after having failed to reveal how significant that business had become to the credit-card company, Reuters reported.

Watsonville, Calif. – West Marine's renewed focus on omnichannel growth seems to be paying off as the specialty retailer reported a big spike in same-store sales in the second quarter.

The California-based retailer reported net income of $20.9 million, up 14% from $18.3 million the same period a year earlier.

Net revenues were $253.2 million in the second quarter ended July 4, an increase of 7.1% compared to last year. Same-store sales increased by 7%.

The company also gave an update on its growth efforts:

Best Buy is taking another leap forward in its quest to make shopping across platforms as easy as possible for consumers.

The retailer, in partnership with American Express, has integrated new technology that allows Amex card members enrolled in the Amex Membership Rewards program to seamlessly use their points for online purchases on BestBuy.com. In addition card members can use their membership rewards points for all or part of each online purchase and either pick it up in one of Best Buy’s stores or have it delivered to their doors.

Las Vegas - American consumers are increasingly comfortable with shopping through their smartphones, and many are using digital channels like social media and email marketing to engage with apparel brands.

According to a survey by advertising/marketing technology provider Fluent Inc., roughly 30% of respondents said that they have bought clothing using their smartphones.

West Marine's renewed focus on omnichannel growth seems to be paying off as the specialty retailer reported a big spike in same store sales in the second quarter.

Palm Coast, Fla. -- A transformation is underway. Branch Properties is in the midst of a $40.8 million redevelopment of the largest (and oldest) retail shopping center in Palm Coast, Florida.

Island Walk, once called Palm Harbor Shopping Center, is a 204,000-sq.-ft. center anchored by Publix Super Markets. Once completed in 2016, the upgraded retail destination will bring new and expanded tenants and amenities to the Palm Coast community in an effort to revitalize the city’s original core.  

After announcing in January that it would close all of its 127 retail locations, Jones New York is back -- at least in the Great White North.