Corporate Governance

Digital talent is a hot topic among retail CEOs today — primarily, where to find enough talent to develop the organization’s “digital DNA” at every level and in every area of the business. With digital talent within retail in short supply, we now have to proactively go further afield — whether in travel, finance, the tech industry or elsewhere — to identify and woo the digital experts our companies need to grow.

An increased risk of an emerging El Nino and a continuation of warmer than normal ocean waters in the Atlantic will produce warmer and wetter conditions along the East Coast along with an elevated tropical system risk. The total number of tropical systems will be reduced overall, but should a storm threaten the U.S., the East Coast would be at highest risk. Much cooler weather will be common across the Plains with increased rainfall east of the Rockies.

Solid comparable sales gains and a strong topline performance in Genesco’s direct businesses were not enough to offset a sales and gross margin shortfall versus plan at the company’s Lids Sports Group, prompting the company to lower its guidance for the full fiscal year.

The company reported earnings from continuing operations for the second quarter ended Aug. 2 of $4.8 million, or $0.20 per diluted share, compared to earnings from continuing operations of $8.5 million, or $0.36 per diluted share, for the second quarter ended August 3, 2013.

Dollar General made the case for the superiority of its Family Dollar takeover bid with the release of second quarter results that revealed consistency as well some deceleration in sales and profit growth.

Gordmans Stores new CEO Andy Hall is looking to execute a turnaround at the off price department store chain where weak sales trends and losses indicate he is in for a big challenge.
 

Soft traffic and promotional activity have continued to put Guess’ North American stores under pressure, but the retailer said it is encouraged by its North American online business, which soared 50% in the second quarter.

The company reported net earnings of $22 million, a 50.5% decrease compared to adjusted net earnings of $44.3 million for the year ago period, which prompted the retailer to cut its fiscal year outlook.

Sales for the quarter decreased 4.8% to $608.6 million, from $639 million a year ago. Same-store sales decreased 5.4%.

La-Z-Boy has named Doug Collier as SVP of La-Z-Boy Incorporated, chief marketing officer and president, international, and has named Darrell Edwards as SVP of La-Z-Boy Incorporated and chief supply chain officer.  

Collier rejoined La-Z-Boy in June 2007 after two years with Select Comfort as chief marketing officer and SVP of marketing. Prior to Select Comfort, Collier held various leadership positions at La-Z-Boy from 2002 through 2005, including VP of marketing and furniture galleries development.

The National Retail Federation has hired Mary Heitman as VP of retail programs.

Heitman previously served as director of events and deputy director of development for the Trust for the National Mall, where managed corporate sponsorships and events designed to increase donor engagement, identified and cultivated prospects and leveraged relationships in the government affairs and corporate community. Prior to the Trust for the National Mall, she owned and operated a private marketing and fundraising firm and served as finance director for the Republican National Committee.

Consumer packaged goods companies need to plan for a “1-5-10” market in the United States during the next five years, in which digital’s current 1% penetration will likely expand to 5% and could accelerate to as much as 10% in short order, according to a new report, The Digital Future: A Game Plan for Consumer Packaged Goods, prepared for the Grocery Manufacturers Association by The Boston Consulting Group, Googl

Williams-Sonoma’s second quarter results may have met Wall Street expectations, but shares dropped nearly 12% as a result of the company’s weak guidance for the third quarter of fiscal 2014 — which will include earnings from most of the back-to-school season.

For the quarter, the company posted net revenues of $1.04 billion, an almost 6% increase from $982 million a year ago. Total same-store sales increased 5.7%. Direct-to-customer revenues climbed 9.4%.