Corporate Governance

Some retailers have had a rough time being successful in Canada, but not Dollarama, where profits, sales and store counts are on the increase.

In fact, customers increased their spending at the Canadian discounter over the fourth quarter, leading to  the chain’s quarterly profit rising about 21%.

New York -- PayPal Inc. has agreed to pay $7.7 million in a deal to settle charges by the U.S. Treasury Department that the electronic payments giant violated numerous sanctions programs against countries that include Iran, Cuba and Sudan, Reuters reported.

The Office of Foreign Assets Control, an agency of the Treasury Department, on Wednesday announced the civil settlement.

Specialty apparel retailer American Eagle had a solid fourth quarter and now is eyeing growth opportunities far from its home market by teaming up with leading South American retail conglomerate Cencosud.

Duluth, Ga. -- NCR Corp. announced that NCR Government Systems will modernize operations for the Defense Commissary Agency (DeCA). DeCA’s Enterprise Business Solution (EBS), built upon NCR’s software solutions, will help to transform DeCA’s mission-critical retail systems and provide industry-leading capabilities that optimize its operations from warehouse replenishment through to the point-of-sale, along with customer loyalty management and payment solutions.

Swedish retailer H&M, which has already made huge waves in the United States, is now eyeing even more global omnichannel expansion.

The company is planning to open 400 new physical stores, a new flagship in New York City’s Herald Square, and at least nine new online stores.

The retailer also reported results for the first quarter ended Feb. 28. H&M reported that net profit climbed 36% to 3.61 billion kronor ($423.2 million), versus a year-ago profit of 2.65 billion kronor ($311.9 million). Analysts were expecting a profit of 3.37 billion kronor.

New York – Online specialty fashion retailer Revolve focuses heavily on customer experience to stay competitive in a tough market. Revolve has selected Dynamic Action, the Big Data and decision intelligence Application from OrderDynamics, to connect the “critical dots” such as: item level exposure, loyal customers’ return rates, competitive pricing and optimal inventory levels.  

IKEA plans to open a store of truly epic proportions on a 22 acre site in Burbank, Calif., that will require the home furnishing retailer first demolish 19 existing structures.

Canton, Mass. - Jack Clare, 44, has been promoted to the newly created position of chief information and strategy officer (CISO) of Dunkin’ Brands. Clare, who has served as the company's CIO for the past three years, will be a member of the Dunkin' Brands leadership team and will continue to report to Paul Carbone, CFO.

Clare will continue to oversee Dunkin' Brands' global information technology resources, and additionally, will now focus on developing the strategies that will drive the company's future success.