Corporate Governance

Savannah, Ga. - Bill Bishop has been named VP of real estate and development of convenience store chain Parker’s, a new position for the company. He will work with president and CEO Greg Parker on the company’s strategic real estate negotiations and acquisitions, citing research and permitting coordination with local officials.

Los Angeles -- Guitar Center will open a flagship in Manhattan’s Times Square on Aug. 7.

The store is located in the original New York Times building. Designed by Eight Inc., the space will offer a high-energy, hands-on environment in which customers are encouraged to interact with the wide selection of instruments and staff.  

New York -- RadioShack has been notified by the New York Stock Exchange that it failed to satisfy listing standards and could be delisted after its average stock price stayed below $1 for 30 days, according to a document the company filed Friday with the Securities and Exchange Commission, the Dallas Business Journal reported.

RadioShack shares will continue to trade as usual on the NYSE. Under the exchange rules the troubled retailer has six months from the date of notification to regain compliance, or get its shares back above $1.

Chesapeake, Va. - In a merger that will shake up the dollar store retail vertical, Dollar Tree is acquiring Family Dollar for $8.5 billion in cash and stock. The resulting company will operate more than 13,000 locations in the U.S. and Canada, with an annual sales volume of $18 billion.

The Children's Place has announced that Lou Lipschitz, a member of its board of directors and chair of the audit committee, has died.

"We are deeply saddened by the passing of our friend, colleague and trusted advisor Lou Lipschitz. Lou's financial leadership, and passion for our business, enriched our company and our board, and we will dearly miss his dedication, grace and wonderful sense of humor," Norman Matthews, The Children's Place chairman of the board, said.

Target is looking to bolster sales results in Canada by appealing to parents and students this back-to-school season, offering everything from fashion to school supplies at prices that it touts as “unbeatable.”

The National Retail Federation (NRF), Retail Industry Leaders Association (RILA), Food Marketing Institute (FMI), Merchant Advisory Group, National Association of Convenience Stores (NACS), National Grocers Association and National Restaurant Association (NRA) are jointly calling for an open and universal tokenization standard in the U.S. payments system.

The groups released a statement saying payment card data is currently vulnerable to theft where card information is swiped or entered, where card information is stored, and where it is transmitted.

Philadelphia -- Destination Maternity Corp. has stopped its pursuit of the United Kingdom’s Britain's Mothercare Plc chain after having two bid proposals rejected.

Portland, Oregon -- The Green Building Initiative announced a wave of Green Globes certifications for new supermarkets across the nation. The properties include New Seasons Markets in Oregon, and Whole Foods Market, Price Chopper, Aldi’s, Harris Teeter, Wegmans, and Publix stores across the country.
 

Seattle – Amazon.com reported a second quarter net loss of $126 million, compared to a net loss of $7 million in the same period last year, as it continues to spend heavily on investments. The loss was nearly double what Wall Street higher expected. Operating expenses rose 24% to $19.36 billion.

Net sales increased 23% to $19.34 billion in the second quarter, compared with $15.70 billion in second quarter 2013. Net sales met Wall Street expectations. A favorable change in foreign exchange rates boosted revenues.