Corporate Governance

San Jose, Calif. – A $3 billion tax charge on foreign profits resulted in EBay Inc. reporting a net loss of $2.33 billion for the first quarter of fiscal 2013, compared to net earnings of $677 million in the first quarter of the previous fiscal year. Analysts had expected EBay to report net earnings for the quarter, although EBay paid the tax charge in the process of making about $6 billion in offshore cash available.

El Segundo, Calif. – Big 5 Sporting Goods experienced a 72% drop in net income during the first quarter of fiscal 2014, to $2.1 million from $7.5 million in the first quarter of the prior fiscal year. Expenses associated with the retailer’s new e-commerce platform affected its net income.

Toano, Va. - Net income at Lumber Liquidators decreased 13.2% to $13.7 million during the first quarter of fiscal 2014, compared to $15.8 million in the same period the prior year. During fiscal 2014, the retailer intends to open 35 to 40 new store locations in the expanded showroom format and remodel 25 to 30 existing stores in the expanded showroom format.

Minneapolis – Tile Shop Holdings Inc. reported net income of $3.7 million in the first quarter of fiscal 2014, a substantial improvement from a net loss of $44.7 million in the same quarter a year earlier. The retailer plans to open 20 new stores during fiscal 2014.

Bentonville, Ark. – Wal-Mart is working with Autoinsurance.com to offer customers in Arkanas, Louisiana, Mississippi, Missouri, Oklahoma, Pennsylvania, Tennessee and Texas an auto insurance comparison service. AutoInsurance.com provides customers with multiple quotes from national insurance carriers including Progressive, Esurance, Safeco, The General and others within minutes.

Wal-Mart plans to offer the service nationwide in the coming months. The launch of this service stems from a successful pilot that took place in Pennsylvania during 2013.

Indianapolis – Hhgregg Inc. has hired Troy H. Risch as COO. Risch joins Hhgregg from RadioShack, where he served as executive VP of store operations.

Prior to this, Risch held a variety of operational leadership positions with Target Corp., including executive VP of stores. Risch will assume the COO position on May 5, 2014.

Seattle - Tommy Bahama has selected customer experience management (CEM) software from Medallia to help better understand and improve customer experience. Using Medallia¹s real-time CEM software, Tommy Bahama will build the vendor’s “Voice of the Customer (VoC)” customer feedback and reporting program into its operations to improve customer experience and drive loyalty.

Fort Worth, Texas — Whole Foods Market has leased a 45,000-sq.-ft. location in Waterside, the new 63-acre master-planned, mixed-use property being developed by Trademark Property Co. Slated to open in the spring of 2016, it will be Whole Foods first grocery in Fort Worth.

Located on the Trinity River, Waterside will offer retail, restaurants, office, hotel and residential uses in a walk-able setting that will include a new extension of the Trinity Trail.

Eleven centers opened last year, with 50 more on the drawing boards

The recession lit the fuse that has produced an explosion of outlet center development.