Corporate Governance

By Sandy Skrovan, U.S. research director at Planet Retail

Chicago – Physical stores continue to be customers’ preferred shopping channel and a place where the most significant consumer and retailer value is created, according to a new report by A.T. Kearney.

The firm’s “Omnichannel Shopping Preferences Study” found that stores play a crucial role in online purchases, as two-thirds of customers purchasing online use a physical store before or after the transaction. The survey covered all age segments — teens, Millennials, generation X, baby boomers, and seniors.

Deerfield, Ill. -- Walgreens announced that  Kermit Crawford, president of  pharmacy, health and wellness, will retire, effective Dec. 31, after 31 years with the company. Crawford plans to join the University of Southern California’s School of Pharmacy, where will serve as executive in residence and senior adviser to the Dean. He also will serve as a senior counselor to Walgreens president and CEO Greg Wasson.



Eden Prairie, Minn. – The loss of a large tax benefit caused Supervalu’s net income to plummet 49% in the first quarter of fiscal 2015 to $43 million from $85 million in the year-ago period.

Revenue slipped to $5.23 billion from $5.24 billion.

London -- Fifty-four percent of online shoppers feel that they are more conscious of their security online compared to 12 months ago, following a string of high-profile security breaches at various international retailers and brands. Of the 2,000 online consumers surveyed as part of EDigitalResearch's and IMRG's EcustomerServiceIndex, half (50%) felt that retailers should be doing more to keep them safe online, especially in the wake of yet more data and security breaches in 2014.

Bentonville, Ark. – Wal-Mart Stores Inc. has lost its bid to keep files regarding an internal probe of possible bribes paid to Mexican officials to aid real estate deals out of the hands of investors. The Delaware Supreme Court has upheld a 2013 ruling by a lower Delaware state court mandating that Wal-Mart provide the files to several investors.

Dallas -- Corner Bakery Café has implemented Altametrics' E-Restaurant and E-SmartClock solutions to improve labor, food, human resources and administrative costs at all of its cafes, with full launch beginning in August. After a three-month test in 10 company-owned stores, Corner Bakery Cafe implemented ESmartClock technology, which features an easy-to-use touch-screen and provides real-time visibility, monitoring and alerting of critical labor elements such as proactive notification of an employee approaching overtime.

Pittsburgh – Dick’s Sporting Goods Inc. has reportedly laid off 478 PGA golf pros who were providing in-store services such as golf lessons and club repairs. According to Fox Business, Dick’s made the cuts as golf sales and participation rates decline.

San Jose, Calif. – EBay is offering $3.48 billion in debt bonds in a sale that will close July 28. EBay intends to use the net proceeds from the offering, for general corporate purposes including loan repayments.

$400 million of the debt will mature in 2017, with the rest coming due in stages through 2024.

New York - Nook Media LLC, a subsidiary of Barnes & Noble Inc., is offering a limited time free ebook and magazine offer through the Nook app for Windows 8.1 in Canada. Customers who download the app will receive five free popular books and two free top magazines.