Corporate Governance

Plano, Texas -- J.C. Penney Co. topped analysts estimates for the first quarter, reporting a smaller-than-expected loss. Declaring its intent to become the “preferred shopping choice for middle America” and gain back market share, the company also raised its outlook for the year.

Penney posted a loss of $167 million in the quarter ended May 2, compared with a net loss of $352 million in the year-ago period.

Macy’s Chairman and CEO Terry Lundgren offered plenty of reasons why the company’s first quarter sales were worse than expected – but also noted the confluence of factors that caused the disappointing results are largely behind the company.

New York - Shake Shack has chosen Accruent’s cloud solution for its project management needs. Shake Shack will use the project management system to support its growth in the U.S.

New York — The Brooklyn Navy Yard Development Corp. on Tuesday announced redevelopment plans for Admirals Row that will bring a long-anticipated supermarket, new manufacturing space and a brand new community facility to the site. Wegmans Food Markets will anchor the $140 million redevelopment of Admirals Row led by Steiner NYC, the developer of Steiner Studios.
 

Austin, Texas – Video and text messaging app Tango is partnering with Wal-Mart and Alibaba to offer full e-commerce functionality inside the Tango app. Tango is rolling out functionality to U.S. users, which will provide them with the ability to browse and purchase items available from Wal-Mart and the AliExpress international shopping site, which is hosted by Alibaba.

Cult favorite grocery chain Wegman's is coming to New York City, with plasn to build a massive store in Brooklyn.

New York -- The founder and ousted CEO of American Apparel, Dov Charney, is suing the company and its chairwoman Coleen Brown for a minimum of $20 million in damages, accusing them of defamation and mental and emotional distress.

Many of the allegations revolve around a letter Brown wrote to American Apparel employees in which she claimed that Charney had agreed in writing to never return in any capacity to the company. According to the lawsuit, Charney never signed any agreement.

Sephora is looking to increase online sales by expanding its omnichannel capabilities in China with a new flagship store on JD.com.

Sephora says its JD.com store will be the largest cosmetics store on JD.com's platform, featuring over 1,200 items from more than 70 leading international cosmetic brands, including Dior, Guerlain, Givenchy, Benefit and Kenzoki, among dozens of others.