Corporate Governance

Sears Hometown and Outlet Stores CEO and president Bruce Johnson cited weather and promotions as factors affecting the retailer’s first quarter results.

Net sales in the quarter decreased 1.9% to $589.9 million from $601.1 million in the first quarter of 2013, driven primarily by a 6.2% decrease in same-store sales. Lower initial franchise revenues and lower liquidation revenues on end-of-season mark-out apparel merchandise received from Sears Holdings also negatively impacted net sales.

ShopperTrak, a leading global provider of consumer behavior insights and location-based analytics, has signed Journeys as its 1,000th customer. The milestone agreement aims to enhance the in-store customer experience at more than 1,000 North American locations of the specialty lifestyle retailer.

Loblaw Companies Ltd. and LoyaltyOne's Precima merchandising/marketing solutions provider are renewing and expanding their long-term engagement. Precima has been working with Loblaw for a number of years with a focus on developing and executing customer-centric merchandising and marketing strategies.

Store closings are hardly an infrequent topic in this space. As a barometer for both the performance of individual brands and the market at large, they are an important part of the equation for any retail analyst. Store closings are part of healthy portfolio management for any brand, and, on a larger scale, bankruptcies and reorganizations are a reflection of the market at work.

New York -- Costco Wholesale Corp. was among the retailers who topped sales expectations in May as warmer weather encouraged consumers to go out and shop.

Costco’s same-store sales rose 6% in May, with a 6% rise in U.S. sales and a 4% increase in international sales, better than analysts had expected.

At L Brands, owner of Victoria's Secret and Bath & Body Works, same-store sales were up 3 in May, better than projections. Total revenue for the month rose 4% to $763.6 million.

Emma & Roe, a new concept from Australia-based, global jewelry retailer Michael Hill International, has opened its doors in Queensland, Australia. Focused on the jewelry charms business, Emma & Roe stands out for its bold but feminine visual stylings. Clean lines are accented with touches of elegance to balance Emma & Roe’s sophistication and moments of playfulness. The color palette features a signature berry color, complemented by a fresh, youthful bright pink and a neutral slate grey.

New York -- Barnes & Noble Inc. is teaming up with Samsung Electronics America to develop a new Nook tablet. The co-branded devices will combine the Nook software with Samsung’s Galaxy Tab 4 hardware, creating full-service tablets that also can access Barnes & Noble’s collection of more than 3 million books, magazines and newspapers, according to a statement.   

Framingham, Mass. -- Staples announced the opening of its Development Center in downtown Seattle. One of two Staples’ west coast offices, the new center is made-up of e-commerce and engineering teams responsible for driving major initiatives to enhance areas including search, SEO and personalization.

New York -- Women’s fashions and home décor retailer Soft Surroundings is planning to open six new stores, giving it a total of 18 locations, the St. Louis Business Journal reported.

New locations will include Richmond, Virginia; Lynnfield, Massachusetts; Alpharetta, Georgia; Madison, Wisconsin; Portland, Oregon; and Paramus, New Jersey.

Soft Surroundings launched in 1999 as a catalog.

Camp Hill, Pa. -- Rite Aid’s same-store sales rose 3.5% in May, boosted by a healthy increase in Rx sales.

The chain’s front-end same store sales increased 0.5%. Pharmacy same-store sales increased 5.0%. Total drugstore sales for the five-week period increased 2.5% to $2.48 billion, compared with $2.42 billion for the same period last year.

Prescription sales accounted for 68.0% of drug store sales, and third party prescription sales represented 97.4% of pharmacy sales.