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Corporate Governance

  • Ikea to double size of Midwest distribution center in Illinois

    Conshohocken, Pa. -- Ikea has submitted plans to the city of Joliet, IL for a second distribution center – to accompany the center previously announced and planned to open in summer 2017.

    In February 2015, Ikea advanced the development of its previously approved 1.4-million-sq.-ft. Midwest distribution center on 72 acres of land already purchased in Joliet/ The company is now proposing another, similarly sized facility on 62 acres it hopes to purchase adjacent to the west of the currently planned first building.

  • Walmart to expand vet hiring program

    Walmart is more than doubling the number of veterans it plans to hire by the year 2020.

  • Staples Q1 profit drops 39%

    Framingham, Mass. -- Staples Inc. reported a 39% decline in first-quarter profit amid declining sales and store closures. The results came as the chain is waiting for regulatory approval of its proposed takeover of rival Office Depot.

    Staples reported a profit of $59 million, down from $96 million a year earlier.

    Revenue slid 6.9% to $5.3 billion. Online sales grew 3%.

    Same-store fell 5% in the quarter. Store traffic was down 2%, and the average order size fell 3%.

  • Kohl's confirms off-price store in New Jersey

    Kohl’s is testing the off-price waters by opening a discount store in Cherry Hill, N.J., this summer called "Off Aisle by Kohl's," the company has confirmed.

  • Temkin study: Hannaford, Publix easiest companies to work with

    Waban, Mass. -- Supermarket companies Hannaford and Publix took the top spots in the 2015 Temkin Effort Ratings, which rates how easy or difficult companies are to work with. The ratings examine 293 companies across 20 industries.

  • Housing recovery lifts sales at Lowe's

    The rebounding housing market lifted Lowe's financial results in the first quarter, although not as much as Wall Street expected.  

  • Kohl’s confirms test of off-price store in Cherry Hill, New Jersey

    Menomonee Falls, Wis. -- Kohl’s Corp. confirmed reports that it will soon begin testing a highly discounted format, called "Off Aisle by Kohl’s,” with a store set to open in early June in Cherry Hill, New Jersey.

  • Target hits the bulleye in first quarter

    Target’s efforts to revamp its product assortment are apparently paying off for the company, which reported a nearly 52% surge in first quarter profit on strong sales of fashion, home and beauty products.

    The company posted a profit of $635 million for the three months that ended May 2. Same store sales rose 2.3%, beating forecasts. Revenue rose 2.8% to $17 billion. Online sales rose nearly 38%.

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