Corporate Governance

San Diego – PriceSmart Inc. increased net and same-store sales during May 2015. Net sales increased 14% to $230.2 million, from $202.3 million in May a year earlier.

Same-store sales rose 4.6%. There were 36 warehouse clubs in operation at the end of May 2015.
 

Hoffman Estates, Ill. – Sears Hometown and Outlet Stores Inc. reported falling profits and sales in the first quarter of fiscal 2015. Lower online commissions from Sears Holdings, lower initial franchise revenues, and lower delivery income helped reduce net income to $2.15 million from $3.68 million.

Net sales in the first quarter of 2015 decreased 1% to $582.8 million from $589.9 million. This decrease was driven primarily by a 1.2% decrease in same-store sales.

Today, CEOs and corporate board members of retail chains must run simply to stand still. Executives of publicly traded retailers face intensive pressure from activist investors to quickly and decisively increase shareholder value. Activists are known to secretly accumulate a significant stake in a company and without notice blind side the CEO with risky restructuring plans, force firms into unwanted mergers to removing board members and CEOs that disagree with their speculative strategy.

The Kroger Co. has named Fred Morganthall, currently president of Harris Teeter Supermarkets, as senior vice president of retail divisions for the Kroger Co.

Rod Antolock, currently Harris Teeter's executive vice president, has been named president of Harris Teeter.

Dallas -- 7-Eleven’s first-ever U.S. airport terminal location has opened at Los Angeles' International Airport. The 950-sq.-ft. store is in the pre-security arrivals level of the Tom Bradley International Terminal.

The store carries a mix of fresh and hot foods, beverages, snacks, travel-size personal care products and nonfood items.

Sears Hometown and Outlet Stores Inc.

New York -- Brick-and-mortar stores are still relevant, with 87% of consumers planning to shop physical retail at least as often as they did in 2014, according to a study by TimeTrade Systems. What’s more, 65% of respondents report that if an item they want is available online or in a nearby store, they prefer to shop in the store.

Dick’s Sporting Goods named veteran consumer packaged goods finance executive Teri List executive vice president and CFO to oversee the retailer’s finance and legal organizations.