Corporate Governance

Dallas -- Neiman Marcus Group has signed an agreement to acquire the German luxury fashion e-commerce site  Mytheresa.com and Theresa, its flagship Munich store from Christoph and Susanne Botschen and Acton Capital Partners. The transaction is expected to close later this year.

New York -- Urban Outfitters on Monday apologized via its Twitter account after it came under fire for selling a “vintage” Kent State University sweatshirt featuring red dye markings that resembled blood stains, a look that called to mind the infamous  shooting that occurred on the Kent State campus in 1970.

Boca Raton, Fla. – Office Depot Inc. will transfer the listing of its common stock from the New York Stock Exchange to the Nasdaq Global Select Market. The company expects its common stock to cease trading on the NYSE effective at the close of business on Sept. 25, and to commence trading on Nasdaq on Sept. 26, when the market opens.

The company will retain its current ticker symbol “ODP” when trading begins on Nasdaq.

Grapevine, Texas – GameStop Corp. plans to exit the Spanish market by selling some stores there to U.K.-based video game retailer Game Digital plc, and closing the remaining locations. Under the terms of this proposed agreement, GameStop will transfer ownership of a portfolio of GameStop stores located in Spain with the remaining retail sites winding down in 2014.

GameStop will work closely with Game to ensure a smooth transition and continued support for all of GameStop’s customers in Spain.

Miami - Southeast Financial Center, an office tower and plaza totaling 1.22 million sq. ft. in Miami’s Central Business District, signed a 20,100-sq.-ft. lease with Club Ventures, Miami, LLC, to bring DavidBartonGym to the top floor of the property’s 15-story annex. Southeast Financial Center has undergone capital improvements totaling $20.5 million since late 2008, including the implementation of granite pedestrian walkways, strategic seating areas, an enhanced park setting with shade trees and various foliage and planters, and new lighting.

Fort Worth, Texas – John Feray, who had served as CFO of RadioShack for less than a year, has resigned from the company, citing personal reasons. Holly F. Etlin, managing director of AlixPartners and longtime RadioShack advisor, has been named interim CFO of the struggling retailer. She previously served as RadioShack's interim CFO from July 2013 to February 2014.

Aliso Viejo, Calif. -- Johnny Rockets announced a new concept, called Johnny Rockets Route 66, which will take the form of four prototypes: drive-thru, drive-in, food truck and pop-up. The first prototypes are to debut as early as fourth quarter 2014.

The drive-thru prototype is targeted for high volume, regional travel plazas located off major freeways and highways. It will range from 1,800sq. ft. to 3,300 sq. ft. and feature an optimized menu, digital projectors and technology to enhance the guest experience.
 

Toronto – So far, the November 2013 purchase of Saks Fifth Avenue by Hudson’s Bay Company (HBC) is paying dividends. HBC reported strong results during the second quarter of fiscal 2014, including a shrinking of its net loss from $81 million in the second quarter of the prior fiscal year to $36 million.

Primarily due to the addition of Saks revenue, total sales climbed 87% to $1.77 billion from $948 million. Consolidated same-store sales grew 1.9%. Digital sales were $162 million, including $116 million from Saks.

New York – Ann Inc. is publicly responding to an open letter sent by activist investors Engine Capital and Red Alder on Aug. 25, which urged the company to sell at a substantial premium above current stock price. In a press release, Ann Inc. said its board is “very active and consistently has been, and remains, focused on enhancing shareholder value.”

Ann Inc. also said its board regularly reviews all options and uses a financial advisor to help evaluate them.

Columbus, Ohio – DSW Inc. plans to open four new stores on Sept. 18. The new stores will be located at the Pinnacle Promenade in Rogers, Arkansas, Ingram Festival in Ingram, Texas, Waugh Chapel Town Center in Crofton, Maryland, and Evansville Pavilion in Evansville, Indiana.

Stores offer the DSW Rewards loyalty program, and customers can also participate in the Shoe Lovers program on Facebook, Twitter and Instagram.