Corporate Governance

Belk’s fall charity sale of the year will take place Saturday, Nov. 8 from 6–10 a.m. at all Belk stores, helping thousands of participating charities across the retailer’s 16-state footprint.

The four-hour, in-store shopping event is an excellent fund-raising tool for participating organizations that sell $5 tickets to their supporters. It’s also an opportunity for customers to give back to local nonprofits while taking advantage of special in-store discounts on purchases during the event.

Coach has announced that executive chairman Lew Frankfort plans to retire upon his term’s expiration. He will not stand for re-election to the board at the company’s annual meeting of stockholders in November.

The company intends to bestow upon him the honorary title of chairman emeritus at that time.

A week after Gordon Brothers Group — a global advisory, restructuring and investment firm specializing in the retail, consumer products, industrial and real estate sectors — tapped a new CEO, the company promoted Frank Grimaldi to national sales manager of the firm’s valuation and advisory services division.
 

Mars has announced a number of leadership changes, which include the departure of Todd Lachman, current president of the company's global pet care division.
 
Lachman, who has been with the company eight years, will be leaving at the end of 2014 to relocate his family to San Francisco. Poul Weihrauch has been named as his successor, effective Jan. 1. Weihrauch is currently global president of Mars Food and also has accountability for Mars drinks and European multisales. He has been with Mars for 14 years, working in multiple categories.
 

Uniqlo's latest interactive global campaign, called the ‘Uniqlo Selfless Selfie Project,’ encourages consumers to take a selfies and give back this holiday season.

Participants must post a selfie with a pledge to do something nice for a loved one or for their local community to social media using #3DSelfie for a chance to win a full-body 3D replica of themselves dressed in Uniqlo holiday clothing.
 

Despite posting increases in consolidated net and comparable store sales, the Finish Line’s second-quarter results fell short of its expectations, thanks to softness in the specialty retailer’s basketball offering.

Despite the slowdown in basketball-related sales, the running-related sales increased in the mid-single digits, driven by casual and performance styles. Consolidated net sales were $466.9 million, an increase of 7.1% over the prior year period. Comparable store sales increased 1.5%.

Hoffman Estates, Ill. – Kmart Corp. will close at least eight stores by the end of 2014 as part of broader cost-cutting moves by parent company Sears Holding Corp. Kmart spokespeople sent emails to media outlets in Michigan, Indiana and Iowa announcing that Kmart will close at least five stores in the Detroit area, two in the Indianapolis area and one in Ames, Iowa.

Washington, D.C. – The U.S. Postal Service (USPS) reportedly wants to expand a pilot of a grocery delivery service it has been testing with Amazon.com in the San Francisco area. According to the Wall Street Journal, the USPS has applied to run a two-year test of the service.

Champaign, Ill. – Quick-service chain Jimmy John’s Gourmet Sandwiches reportedly had customer credit card information stolen from its payments systems at 216 of its 2,000 stores by hackers. According to Bloomberg, log-in credentials from a payment systems vendor were used by hackers to infiltrate POS systems at its stores between June 5 and Sept. 5.

Jimmy John’s first learned of the breach on July 30 and has been using forensics experts to investigate it. The retailer says the breach has been contained.

Dodgeville, Wis. - Lands' End Business Outfitters has launched a new online customer shopping experience. The new website provides functionality that lets business customers do everything from seeing how their logo looks on a selected fabric to managing account information and accessing order history.