Corporate Governance

Speedo USA has expanded its relationship with Sports Authority and is launching a Speedo Aquatic Zone “shop-within-a-shop” retail concept at four Sports Authority locations.

CUPERTINO, Calif. -- In its largest deal ever, Apple said on late Wednesday that it is buying Beats Electronics LLC for $3 billion. Beats is a key player in the premium headphone market and is also in the streamlining music business.  
 
Apple will pay $2.6 billion in cash and another $400 million in equity for Beats, whose founders rapper and producer Andre Young (aka Dr. Dre) music-industry  mogul Jimmy Iovine  will join the tech giant.

New York -- Doug McMillon, CEO of Wal-Mart Stores, said the company plans to ramp up the company's pace of partnerships and acquisitions as part of a broader strategy to better compete with digital rivals, Bloomberg reported.  

“We’ve been more acquisitive lately, especially for talent,” McMillon said, according to the report. “And our pace of acquisitions, I think, is going to accelerate.”

St. Louis -- Brown Shoe Company’s first quarter results exceeded expectations as the retailer swung to a profit. The company said it is raising its annual forecast.

Brown Shoe reported net earnings for the quarter of $15.4 million, compared to a net loss of $10.8 million in the year-ago period.

Net sales for the quarter increased 0.4% to $591.2 million, from $588.7 million for the prior-year quarter.

New York -- Make Meaning is expanding its East Coast presence with the opening of its sixth U.S. location, at Bethesda Row in Bethesda, Maryland, on June 9. Make Meaning has five additional locations nationwide – two in New York City, as well as locations in Dedham, Massachusetts, Thousand Oaks, California, and Scottsdale, Arizona. The company plans to roll out additional locations nationwide and abroad.

Phoenix -- PetSmart has named Phil Bowman to the position of executive VP of customer experience effective June 30. He will report directly to David Lenhardt, president and chief executive officer of PetSmart.

Bowman has extensive experience in brand-building, digital marketing, ecommerce and customer data analytics, as well as the creation of an integrated customer experience. Most recently, he served as chief marketing officer at TD Ameritrade, one of the world’s largest online securities brokerage companies.

New York — Restaurateurs Carlos Suarez and Mark Barak, known for their two popular eateries, Bobo and Rosemary’s, have taken space for a new Provencal restaurant to be called Claudette in New York City.

Located at 24 Fifth Avenue close to Washington Square Park, Union Square and New York University, the 2,409-sq.-ft. restaurant, which includes 2,044 sq. ft. in the basement, features menus from Chef Wade Moises and Chef de Cuisine Koren Grieveson that focus on local produce, seafood and North African aromatics.

Philadelphia — Brandywine Realty Trust, Amtrak and Drexel University have selected Skidmore, Owings & Merrill LLP in association with Parsons Brinckerhoff, OLIN, and HR&A Advisors to develop a comprehensive master plan for the area around Philadelphia’s 30th Street Station.

Planning will begin immediately. The goal is to develop a vision that locates the station at the epicenter of a dynamic, urban neighborhood that provides opportunities for community development, economic development and improved transportation connections.

Glenview, Ill. — The Tabani Group has acquired The Glen town Center in Glenview, Illinois, in the Chicago metro area.

The 267,732-sq.-ft. center is located just 20 minutes from downtown Chicago in the affluent North Shore suburb of Glenview. Dick’s Sporting Goods and separately owned Von Maur, anchor the center. Tenants include Jos A. Bank, Yard House, Bravo! Cucina Italiana and the Regal Glen 10 Movie Theatres, which are also separately owned.

Mooresville, N.C. – Lowe’s has released its 2013 Corporate Sustainability Report, which highlight its efforts to promote the well-being of its employees, its communities and the environment. The report includes Lowe's first set of public sustainability goals, which establish new targets for energy use, carbon emissions and waste for the year 2020.

By 2020, Lowe’s aims to achieve the following milestones for energy use, carbon emissions and waste, measured against a 2010 baseline: