Corporate Governance

Fairfax, Va. -- Geeknet Inc., which announced a deal on Tuesday to be acquired by teen retailer Hot Topic, said Wednesday it had received a new and higher offer. The company said it would review the new offer.

Geeknet, parent company of online retailers ThinkGeek and ThinkGeek Solutions, said it received an offer from a "strategic buyer" that valued it at $20 per share in cash, or approximately $134.6 million.

“A name badge stating a sales associates’ name, title and area of expertise is a personalized introduction to the customer, one that the survey clearly establishes as a pathway to developing better customer relations with the retailer, as well as generating more sales and frequent visits,” says Marla Kott, CEO of Imprint Plus.

London - Michael Kors Holdings Ltd. has named Marcel Ostwald to the newly created role of senior VP, menswear. Ostwald spent the last 11 years at Hugo Boss, where his most recent title was senior head of creative management and concept design for Boss Sportswear.

Ostwald’s appointment, effective Aug. 1, fills a key role in Michael Kors’ growing menswear business. Ostwald will work closely with Michael Kors and Mark Brashear, president of menswear, in developing the creative brand strategy and product vision for the men’s division.

Zaandam, Netherlands – Global grocery conglomerate Ahold N.V. had a successful first quarter of fiscal 2015, reporting growth in overall net income and in U.S. market share. Net income more than quadrupled to $230.74 million from $54.16 million, aided by the elimination of discontinued operations from the same period a year earlier.

New York – Tiffany & Co. overcame the negative impact of a strong dollar on global performance to beat Wall Street with smaller-than-expected declines in net earnings and sales during the first quarter of fiscal 2015. Net earnings declined 17% to $105 million from $126 million a year earlier, with increased marketing spending contributing to the decrease.

With hurricane season fast approaching, the Home Depot wants to encourage residents to shop its stores for storm-related gear by hosting nearly 700 storm workshops on May 30 from Texas to Maine.

Ft. Myers, Fla. -- Chico's FAS Inc. on Wednesday reported that its first-quarter profit dropped 18% amid restructuring charges and lower sales.

The apparel retailer reported a profit of $32.5 million for the period ended, down from $39.9 million in the year-ago period. The results met Wall Street expectations.

Revenue rose 1.7% to $693.3 million in the period, which was short of Street forecasts.

Same-store sales fell 0.1%.
 

Chico's FAS Inc. is blaming its first quarter profit decline on restructuring charges and lower sales.