Corporate Governance

Shoppers looking for Swedish mustard or cheap bathroom rugs won’t have to ask themselves “Why isn’t there an Ikea in Las Vegas?” for very much longer.

The Swedish home furnishings retailer, along with Nevada Governor Brian Sandoval, Clark County Board of Commissioners Chair Steve Sisolak, Clark County District F Commissioner Susan Brager, U.S. Congressman Joe Heck, local officials and community leaders on-hand, officially broke ground this week for a future Ikea in Las Vegas.

The National Retail Federation is investing millions of dollars into research for the retail industry by creating a new center.

NRF plans to form a new department called the Retail Research and Analysis Center to bring together all existing research within NRF and expand upon the wide range of issue areas and trends already studied. The center will focus on four main areas: the economy, legislative and regulatory policy, the retail industry and consumers.

San Francisco – Strong same-store sales growth at Old Navy helped drive a 1% increase in net sales at Gap Inc. to $1.53 billion in March 2015, compared with net sales of $1.51 billion for the same month the previous year.

Gap Inc.’s overall same-store sales were up 2%. The company said that the earlier timing of the Easter holiday peak shopping weeks in 2015 benefited March sales results and will likely negatively impact its April sales results.

New York -- Saks Fifth Avenue Off 5th will open its first store in Los Angeles County, in the Beverly Connection shopping center in Beverly Hills California.

The new two-level, 27,000-sq.ft. store will be fashioned in an open, modular layout.

“Saks Fifth Avenue Off 5th’s move to Beverly Hills is an exciting venture for us,” stated Jonathan Greller, president of outlets, HBC (Saks’ parent company).
 

Having reliable concrete slab moisture information is key to selecting the right product before installation, as well as avoiding flooring failures after installation. Independent Floor Testing and Inspection (IFTI) is the North American specialist in third-party independent testing for the construction and architectural community.  Meet Lee Eliseian of IFTI, as he discusses how to launch an accurate, independent risk management program designed to prevent or solve flooring issues and failures.

Millennials are not loyal to fashion brands, according to a new study. In fact, 45% of those surveyed by LIM College say nothing can be done to retain them.

This is according to the results of a new survey, "Shopping Trends Among 18-25 Year-Olds," conducted by LIM College Professors Robert Conrad and Kenneth M. Kambara, Ph.D.

New York -- Amazon’s drone testing program has received a new approval from federal regulators.

In March, the Federal Aviation Administration gave the online giant the oaky to fly drones in research for potential deliveries. But the approval came six months after Amazon had filed the request, and, during that time, the model in question had gone out of date. Amazon submitted a new request for an updated model, and the request was approved in less than a month, Reuters reported.

Build-A-Bear Workshop is rewriting the rules on stuffed animals with a new line of toys that are linked to a mobile app.

The retailer’s new Promise Pets feature a free mobile app that families can download to bring the experience of pet care to life, teaching children about animal care through an interactive play experience. Breeds in the collection include the Golden Retriever, Beagle, Yorkshire Terrier and Persian Kitten. Build-A-Bear plans to introduce more breeds throughout the year.