Corporate Governance

Ahold CEO Dick Boer cited competitive pressures in New England as a contributing factor in the company’s flat U.S. sales in the first quarter, but it’s not stopping the company from targeting online expansion.  

Ahold's U.S. operations posted first-quarter net sales of $8 billion, down 0.3%. Excluding fuel sales, overall sales were flat relative to the same period last year. Identical sales growth excluding gas was 0.1%, which included the positive impact this year of the post-Easter week falling into the second quarter.

Target has formed a digital advisory council as part of its efforts to accelerate its digital transformation. The company will look to the panel of technology industry leaders to help guide its omnichannel strategies.

The council includes experts with varied tech backgrounds, and includes Ajay Agarwal, managing director of Bain Capital Ventures; Amy Chang, CEO/co-founder of Accompani, former head of Google Analytics; Roger Liew, chief technology officer of Orbitz Worldwide; and Sam Yagan, CEO of the Match Group and CEO/founder of OkCupid.

Customers can now shop on Amazon for collectible U.S. coins from industry leading dealers including Stack’s Bowers Galleries, Kagin’s, David Lawrence Rare Coins and Liberty Coin — all from the newly launched Collectible Coins store.

Cheerios, a brand from General Mills, announced the launch of Cheerios Protein. The company is billing the product as a "smart solution" that provides a boost of energy for hectic mornings.

Conn’s, a specialty retailer of home appliances, furniture, mattresses, consumer electronics, announced the opening of its first two Conn’s HomePlus stores in Tennessee.

The HomePlus store format showcases furniture and mattresses in addition to the leading brands and the latest technologies in consumer electronics and home appliances. The stores are at Cross Creek, in Memphis, and at Town & Country Commons, in Knoxville.

Brown Shoe Company’s first quarter results exceeded expectations according to CEO, president and chair Diane Sullivan, and the company is raising its annual EPS guidance range as a result.

Women’s apparel retailer Chico’s FAS increased its store count by 99 units in the first quarter even as traffic declined and profits tumbled.

For the second year in a row, Sears' brand of Kenmore appliances will fuel competitive juices in Las Vegas when 400 cooks gather later this year for the World Food Championships.

PetSmart has named Phil Bowman as EVP of customer experience, effective June 30. He will report directly to president and CEO David Lenhardt.

Bowman has extensive experience in brand building, digital marketing, e-commerce 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.

Foothills Ranch, Calif. -- Fashion retailer Wet Seal Inc. swung to a loss in its  first quarter amid declining sales. The company reported a loss of $21.8 million, compared with a year-earlier profit of $3.1 million.

Sales fell 17% to $116.7 million. Total same-store sales, including e-commerce, fell 16.9%.
 
Wet Seal said it was challenged by  weak mall traffic, higher promotional activity and disruptive weather as challenges for the quarter.