Corporate Governance

Minneapolis – Tile Shop Holdings Inc. reported a 38% dip in net income during the second quarter of fiscal 2014 compared to the same period a year earlier. Net income fell to $3.96 billion from $6.48 billion, with Tile Shop citing adverse macroeconomic conditions, including home sales, as having a generally negative impact on the business.

Fremont, Calif. – The Men’s Wearhouse reported same-store sales growth of 3.6% for the second quarter of fiscal 2014 as of July 19. The retailer’s second quarter ends Aug. 2.

In addition, as of July 19 same-stores sales in Men’s Wearhouse’s Jos. A. Bank division, which was purchased in June 2014, were up 2.4%. Same-store sales at the Moore’s division were up 8.3%.

Katy, Texas - Academy Sports + Outdoors will open four stores in the Orlando, Florida, area in 2015. The four stores will be located in Kissimmee, Lake Mary, Waterford Lakes and Melbourne.

Westborough, Mass. – BJ’s Wholesale Club has signed a new long-term agreement for Alliance Data Systems Corp. to provide co-brand credit card services. The BJ's credit program will convert to MasterCard.

Boston – Wayfair has named Romero Rodrigues to the company's board of directors. As global CEO for comparison shopping at Naspers, a South African multinational mass media company, and co-founder of the Buscape Company, a digital commerce group, Rodrigues brings extensive entrepreneurial, e-commerce and consumer expertise to the Wayfair board.

New York - U.S. retail and consumer merger & acquisition (M&A) activity during second quarter 2014 was driven by eight multibillion dollar transactions, anchored by the food and beverage (including alcohol and retailing) sectors, exceeding year-over-year deal value by 104% and volume by 52%.

Dublin, Ohio - The Wendy’s Company has extended its partnership and will continue licensing APT’s Test & Learn software for another three years. Wendy’s will use the software to test strategic initiatives in menu changes, remodels, marketing, pricing, and operations across its system of more than 6,500 company and franchise-operated restaurants.

Charleston, S.C. - Del Taco LLC has selected the Benefitfocus HR InTouch Marketplace to support benefits administration and address relative requirements set forth by the Affordable Care Act (ACA). HR InTouch Marketplace provides a single online portal that integrates benefits-related employee data and information in one place, allowing Del Taco to efficiently manage benefit eligibility, enrollment and education for its whole workforce.

Dallas -- Tuesday Morning Corp. has named Jim Wade, a 35-year retail veteran, as an independent member of the company's board of directors, effective immediately. He will serve on the company's Audit Committee.

Wade currently serves on the board of directors and Finance Committee for Advance Auto Parts Inc. He first joined Advance Auto Parts in 1994 as treasurer, and retired as president in 2011 with responsibilities including store operations and both the DIY and commercial businesses.  

Chicago – Retail experts from professional services and investment management firm JLL are managing two new shopping centers. JLL has been retained by Ashkenazy Acquisition Corp. to manage Beverly Connection, a 348,285-sq.-ft. shopping mall in Los Angeles, and also been retained by 759 Ventures LLC to manage the 58,280-sq.-ft. 2424 North Davidson Street center in Charlotte, North Carolina.