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Corporate Governance

  • J.C. Penney exec accidentally discloses same-store sales growth data

    Plano, Texas – A senior executive at The J.C. Penney Co. Inc. has accidentally disclosed same-store sales growth to date in the first quarter of fiscal 2015. In a filing with the Securities and Exchange Commission, Penney said the executive sent an email to an analyst including the information that same-store sales have increased 6% so far in the quarter, ending in May 2015, with the retailer expecting growth to total 3.5%-4.5% for the full quarter.

  • Heslin Holdings acquires West Central Plaza; redevelopment on tap

    Albuquerque, N.M. -- Heslin Holdings, Inc. announced the acquisition of West Central Plaza Shopping Center, a retail property located in Albuquerque, New Mexico. The firm plans to invest more than $12 million -- for both the acquisition and to redevelop and re-tenant the property -- as part of a value-add investment strategy.
     

  • A different kind of data breach at JCPenney

    Who hasn’t prematurely hit the send button on an email? However, when it happened to a JCPenney executive who disclosed first quarter same store sales to an analyst, it begs the larger question of why the pair were even having a conversation about sales with two weeks left in the quarter.

  • Nordstrom donating 1% of gift card sales to non-profits

    Seattle -- Nordstrom announced it is donating one percent of every gift card sale to local nonprofits in the U.S., Puerto Rico and Canada.

    "When a customer buys a gift card this Mother's Day and beyond, we hope they'll feel good knowing that the gift they're giving is a part of Nordstrom helping some great non-profit organizations do amazing things for their communities,” said Jamie Nordstrom, president of stores for Nordstrom.

  • Staples recycles 450 million ink and toner cartridges

    Framingham, Mass. – Staples Inc. has collected 450 million ink and toner cartridges for recycling in the U.S. since 2005, averaging more than 60 million cartridges per year for the past four years. Through the cartridge recycling program, Staples has helped recover and recycle 234 million pounds of plastics and metals, diverting roughly the weight of 8,000 full garbage trucks from landfills.

  • Guitar Center sings a different credit tune

    Aspiring musicians with big dreams but no way to pay for them now have options thanks to a new credit initiative launched at the nation’s leading musical instrument retailer.

    Guitar Center, operator of 260 stores nationwide, and Synchrony Bank, formerly GE Capital Retail Finance, reached a multi-year agreement that allows Guitar Center to provide a private label credit card program. The program is expected to launch in the third quarter of 2015 and also includes a stipulation that Synchrony Bank acquire the assets of an existing card program.

  • Webster Capital to purchase Dover Saddlery and take company private

    Littleton, Mass. - Dover Saddlery Inc. entered into a definitive merger agreement with a company formed by Webster Capital. Webster will acquire all of the outstanding shares of Dover common stock for $8.50 per share in cash and take Dover private.

  • Cause merchandising under way at Kohl's

    Kohl’s is moving toward a $300 million threshold in its long-running Kohl’s Cares cause merchandise program with the latest iteration of the program involving products from the author and illustrator team of Philip and Erin Stead.

    From now through June 27, Kohl’s customers who purchase books or plush items for $5 will see the entire net profit of their purchase used to support children’s health and education initiatives nationwide.

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