Corporate Governance

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.

The stronger dollar hurt Tiffany and Co. in the first quarter, but the retailer's new efforts to woo ultra-wealthy shoppers helped offset weakness in its tourist business.

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.

The Kroger Co. is teaming up with the USO on a new customer engagement campaign to raise money for military veterans and their families.

Customers and associates of Kroger Co. stores (including Ralph's, Food 4 Less and other divisions) will be able to show their support through July 21 by donating their spare change in specially-marked coin boxes at the check stands in all Ralphs supermarkets. One-hundred percent of all donations will go to the USO. But new this year is a digital marketing element in which veterans tell their stories on honoringourheroes.com.

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%.
 

Footwear and accessories retailer DSW Inc., successfully navigated the west coast port challenges that plagued other retailers first quarter performance to deliver strong results while furthering an endless aisle agenda.

The company said its sales for the period ended May 2, increased 9.4% to $655 million and same store sales accelerated to 5.1% when compared to a 3.7% increase during the first quarter the prior year. Net income increased 22.6% to $47.4 million while earnings per share increased 26.2% to 53 cents.

Atlanta -- Arby’s Restaurant Group, franchisor of the Arby’s brand, announced that it has reached an 11%  total energy reduction per company-owned restaurant since 2011, paving the way to a goal of 15% energy reduction by the end of 2015. This follows a 2014 reported reduction of 3.3% in average year-over-year energy consumption per company-owned restaurant.

New York - Fairway Group Holdings Corp., the parent company of Fairway Market, moderately shrunk its net loss in the first quarter of fiscal 2015.

The retailer reported net loss of $8.54 million, down 3% from $8.84 million a year earlier. The decrease in the net loss was primarily attributable to a decrease in general and administrative expenses, production center start-up costs and direct store expenses, partially offset by lower gross profit and an increase in the income tax provision, interest expense and store opening costs.