Corporate Governance

New York - EBay and Sotheby’s are jointly launching live auctions on EBay. Part of EBay’s new live auctions platform, the service is now available for browsing and advance bidding on Sotheby’s items leading up to the launch of Sotheby’s first live auctions on eBay on April 1.

EBay and Sotheby’s originally announced plans to partner on live auctions in July 2014, and have since worked together to deliver a virtual experience. Sotheby’s first live auctions on eBay will be a themed New York sale and a photographs sale.

Columbus, Ohio – DSW Inc. exceeded Wall Street expectations with profit in the fourth quarter of fiscal 2014. The specialty footwear retailer reported net income of $30.8 million, up 10% from $28.1 million the same quarter a year earlier.

Cost of sales grew at a slower pace than actual sales, helping boost profits. DSW plans to open 35 stores in fiscal 2015, including eight to 10 small format stores. Sales rose 12$ to $640 million, from $572 million.

JCPenney has lost its chief marketing officer at a time when the company has been trying to rebuild its brand image.

Chicago - West Marine will open a new 20,000-sq.-ft. flagship Midwest store on North Halsted Street in Chicago on April 23. The new Chicago store is located just off the North Branch Canal of the Chicago River that wraps around Goose Island.

Buoyed by impressive fourth quarter sales, Burlington Stores Inc. is accelerating its expansion strategy, with plans to open 25 new stores in 2015 and a long-term goal of 1,000 stores coast-to-coast.

The off-price retailer reported that total revenue for the fourth quarter ended Jan. 31 grew 10% to $1.5 billion from $1.34 billion. Same-store sales rose 6.7%.

Atlanta - Arby's Restaurant Group Inc. (ARG) is promoting John Bowie, senior VP of operations, to COO, reporting to Paul Brown, CEO. The promotion was announced as George Condos, ARG president and COO, announced his retirement.  

Bowie will assume responsibilities as COO on March 30, at which point Condos will continue on through the end of the year as a consultant for Arby's.

PetSmart is hoping to lure more Martha Stewart fans to its stores with a new line of natural, Made-in-the-USA pet products.

The retailer already sells Martha Stewart pet products, but it is now launching the Martha Stewart Pets Treat Shop, a line of oven-baked natural dog treats sold only at PetSmart.

Laval, Canada - Alimentation Couche-Tard Inc. is purchasing 21 stores, 151 dealer fuel supply agreements and five development properties through its Circle K Stores Inc. subsidiary from Cinco J Inc. The 21 stores and development properties are located in Texas, while the 151 dealer fuel supply agreements are located in the Texas, Mississippi and Louisiana.