Corporate Governance

Burlington, N.J. – Aided by reductions in areas such as interest expense, debt extinguishment and stock option modification, Burlington Stores Inc. more than doubled its net income to $25.69 million in the first quarter of fiscal 2015 from $11.77 million the same period a year earlier. The company plans to open 25 stores during fiscal 2015.

Ankeny, Iowa – Casey’s General Store beat Wall Street expectations for profit and revenue during the fourth quarter of fiscal 2015. Net income roughly doubled to $41.34 million from $20.94 million, fueled by a drop in cost of goods sold.

Total revenue fell 14% to $1.65 billion from $1.92 billion, but still exceed analyst estimates.

During fiscal 2016, Casey’s plans to build or acquire 75 to 113 stores, replace 10 existing locations and complete 100 major remodels.

Lands' End is adding two highly regarded retail veterans to an executive team led by newly appointed CEO Federica Marchionni.

The company announced that Joseph Boitano is bringing his more than 30 years of retail and wholesale experience to a new role at Lands' End as executive vice president, chief merchandising and design officer and will lead all aspects of merchandising and design.

Sunderland, Vt. - William R. McLaughlin has been named as the new president of the Orvis Company Inc. He will succeed Raymond G. McCready, who will retire later this year.  

McLaughlin will assume the post July 27. McLaughlin's early career included leadership roles with Pillsbury and PepsiCo. At Pepsi, he managed several of their international businesses and rose to become president of Frito Lay Europe, Middle East & Africa.  From 2000 to 2012, McLaughlin was president & CEO of the specialty retailer Select Comfort Corp.

Bealls has come up with a creative marketing campaign to leverage the artistic talent of its customers.

The company has launched the Bealls Florida Artist Competition, which will provide the opportunity for new and established artists to have their artwork produced into a line of Florida-inspired products exclusive to Bealls Florida.

Minneapolis – Christopher & Banks Corp. swung to a net loss of $1.4 million in the first quarter of fiscal 2015, compared to net income of $2.6 million the same quarter a year earlier. Total costs and expenses exceed net sales of $91.62 million, which was an 11 % drop from $103.37 million, while same-store sales dropped 11.7%.

During the second quarter of fiscal 2015, Christopher & Banks expects to open one new Missy, Petite, Women (MPW) and 14 new outlet stores, and also close one CB store and convert seven others to MPW stores.

The West Coast port dispute and traffic declines due to weather led to a big loss for Christopher & Banks Corp. in the first quarter.

Wesley Chapel, Fla. -- More than1.2 million shoplifters and dishonest employees were apprehended in 2014 by just 25 large retailers who recovered over $225 million from these thieves, according to the 27th Annual Retail Theft Survey conducted by loss prevention and inventory shrinkage control consulting firm Jack L. Hayes International. The participants were made up 25 large retail companies with 23,250 stores and over $700 billion in retail sales (2014).