Corporate Governance

Checkpoint Systems, a leading global supplier of merchandise availability solutions for the retail industry, has launched the next generation of intelligent electronic article surveillance (EAS) solutions.

The Evolve iRange is made up of six different EAS antennas, a broad range of EAS labels designed for visible and source-tagging application to various types of merchandise, and the Counterpoint iD deactivation unit for faster and consistent deactivation at point-of-sale (POS).

Aeropostale has added Stefan Kaluzny, managing director at Sycamore Partners, and Julian Geiger, former director and CEO of Crumbs Bake Shop and former chairman and CEO of Aeropostale, to its board of directors.

Arthur Rubinfeld is also stepping down as a director of Aeropostale. In addition, the company's board of directors will nominate Kenneth Gilman, currently a director of Zale Corp. and Kate Spade & Co., for election as an independent director.

The car Dollar General sponsored in this year’s Indianapolis 500 may have finished 14th, but the retailer’s race team gained notoriety for another reason.
 
For the first time ever, the pit crew for the Dollar General sponsored Schmidt Peterson Motorsports team contained a female member tire changer. Jessica Mace became the first woman to “go over the wall,” racing parlance used to described those who work on cars when they enter the pit stall, during the 98th running of the Indianapolis 500.
 

AutoZone marked its 31st consecutive quarter of double digit earnings per share growth for the period ended May 10.

The company reported net sales of $2.3 billion for the quarter, an increase of 6.2% from the third quarter last year. Domestic same-store sales, or sales for stores open at least one year, increased 4% for the quarter.

Net income for the quarter increased $19.6 million, or 7.4%, over the same period last year to $285.2 million, while diluted earnings per share increased 16.4% to $8.46 per share from $7.27 per share in the year-ago quarter.

Woodland Hills, Calif. — Peak Financial Partners, Inc., a private real estate investment firm and Misuma Holdings, have acquired a $45 million note secured by Myrtle Beach Mall, a 521,000-sq.-ft. enclosed mall facility in Myrtle Beach, South Carolina.

Baltimore — The Mall of Istanbul opened today in Istanbul, Turkey. The 34.5-acre mixed-use development features 2.1 million sq. ft. of retail space, 1.4 million sq. ft. of residential space and 322,600 sq. ft. of office space.

Baltimore-based DDG won the design contract for the mall in 2009 in an international competition.

Minneapolis -- In a move to further boost its marketing organization, Target Corp. has hired Kristi Argyilan as senior VP, media and guest engagement, effective June 2.

Argyilan comes to the Target from IPG Mediabrands where she was most recently the president at Magna Global, North America. She has also held senior positions with advertising and integrated marketing agencies including Arnold, Hill Holiday, and Goodby, Silverstein & Partners.

Polaroid Fotobar has opened a flagship at The Linq, a new, pedestrian-friendly shopping street in the heart of the Las Vegas Strip. The two-level, 8,500-sq.-ft. space — part retail, part museum — celebrates the storied history of Polaroid while also tapping into consumers’ love of digital photos.

Birmingham, Ala. – Hibbett Sports Inc. plans to open 75-80 new stores, expand 10-15 stores and close 10-15 stores during fiscal 2015 (which coincides with calendar 2014). These aggressive growth plans comes as Hibbett reports increases in net income and sales during the first quarter of fiscal 2015.

New York – Aeropostale Inc. reported a net loss of $76.8 million in the first quarter of fiscal 2014, up from the $12.2 million net loss it reported a year earlier. It also projected a second-quarter loss forecast bigger than analysts expected.

The struggling retailer, which has reported a loss for six consecutive quarters, had a generally difficult quarter overall, as net sales fell 12% to $395.9 million from $452.3 million and same-store sales decreased 13%.  Aeropostale has reported declining comparable sales for seven straight quarters.