Corporate Governance

By Emily Westridge Black and Christopher Quinlan

With major data breaches making headline news on a near-weekly basis, the retail industry is increasingly focused on cybersecurity. When creating their cybersecurity plans retailers should: 

• Create a strong cybersecurity team that is cross-sectional, and include personnel from legal, information technology, human resources, and communications or public relations departments. The team should also include at least one member of senior management.

Irvine, Calif.  -- Boot Barn Holdings announced it has entered into a definitive agreement to acquire Sheplers, a 116-year old western lifestyle company with 25 stores across the United States. The purchase price was put at $147 million in cash.

By rebranding the Sheplers stores to the Boot Barn banner, consistent with the strategies of its prior two acquisitions, Boot Barn will enhance its store footprint by adding eight new retail markets and build its position in Texas and Colorado.

Hingham, Mass. -- WS Development and Derby Street Shoppes continue to add new and exciting retailers to the vibrant mix of existing shops, boutiques and restaurants by announcing the opening of DavidsTea and Sephora. DavidsTea, expects to open its only location on the South Shore in mid-summer, while perfume and cosmetics retailer, Sephora, hopes to open later this year.

New York -- The chief economist for the National Retail Federation on Monday released his Monthly Economic Review and the good news is that the gloomy economic indicators seen during the first half of the year will give way to brighter opportunities for economic growth during second half of year.

Walmart is furthering its $100 million commitment to industry workforce development with a big grant to the NRF Foundation.

An $800,000 grant from Walmart to the NRF Foundation will work with employers to determine the competencies needed in the industry and the potential for a new industry-validated credentialing program to help store and distribution center employees advance their careers.

Boot Barn is stepping up its e-commerce game with the acquisiton of Sheplers for a purchase price of $147 million.

Amazon  is facing increased competition these days. In some of the more publicized developments, subscription-based e-commerce site Jet.com is taking off soon, EBay is piloting a service to compete with Amazon Prime in Germany, and Google is reportedly planning to introduce a “buy” button that will turn searches into transactions.

Beyond the natural competition any successful business generates, there are specific factors making it more appealing than ever for retailers of all sizes to try taking on Amazon. Here are three of the most significant ones.

Fast growing retailer Five Below is bolstering it supply chain capabilities in the northeast with a new facility that will eventually exceed one million square feet.

The retailer of of value merchandise for teens announced the it will open a new distribution center in Oldmans Township, N.J. The 1,045,000 square-foot facility, located at 5 Gateway Boulevard, Pedricktown, N.J., will replace the company's existing 421,000 square foot facility located 12 miles away in New Castle, Del.