Corporate Governance

Plano, Texas – Rent-A-Center Inc. reported declining net earnings for first quarter 2014, even as revenues slightly grew. The company said it plans to optimize its U.S. store footprint by consolidating about 150 stores into existing stores by the end of the second quarter of fiscal 2014.

Net earnings fell 37% to $28.9 million from $46.1 million, while total revenues increased 1.8% to $833.7 million from $819.3 million. Same-store sales dropped 0.8%.

Washington, D.C. - The National Retail Federation (NRF) was recognized on Earth Day, April 22, by the U.S. Environmental Protection Agency (EPA) with its 2014 SmartWay Affiliate Challenge award. The EPA recognized NRF for supporting policies and practices that reduce truck emissions and enhance freight efficiency.

The SmartWay Affiliate Challenge is a national challenge developed by the EPA to acknowledge organizations that do an exceptional job supporting the partnership’s freight sustainability goals.

San Jose, Calif. -- Pier 1 Imports is facing criticism this week for its policies regarding leave for pregnant workers. Nearly 50,000 people have signed a petition from anti-sexism group UltraViolet to demand Pier 1 stop what the petition says is discrimination against pregnant workers.

Dallas – Tuesday Morning Corp. has named Melissa Phillips as executive VP and general merchandise manager, effective immediately. She brings 15 years of buying and retail experience to Tuesday Morning. Since 2009, she has served as general manager for The Home Decorators Collection (HDC) at The Home Depot.
 

Dallas - DGSE Companies Inc. has named James D. “Dusty” Clem to the positions of chairman, president and CEO, effective immediately. Clem replaces James Vierling, who has resigned as CEO and as a director of DGSE to accept a position with Elemetal LLC, DGSE’s largest shareholder.

Atlanta - Arby's Restaurant Group Inc. (ARG), franchisor of Arby’s, has signed development agreements with new and existing franchisees. ARG recently sold 14 company-operated restaurants in Tampa, Fla., to Mosaic Investments Inc., a fully integrated investment firm based in Atlanta. In addition to remodeling existing locations slated to commence at the end of 2014, Mosaic has committed to build 13 new Arby's restaurants in the Tampa area during the next nine years.

Columbus, Ohio — First Interstate Properties has named Steiner + Associates as the exclusive retail leasing agent for its 610,000-sq.-ft. mixed-use Legacy Village in Lyndhurst, Ohio.

Atlanta — JLL has announced the closing of the sale of Market Square at Montrose on behalf of LaSalle Investment Management to HP Realty LLC. Purchased for $32.5 million, the 510,231-sq.-ft. retail center hosts anchors Home Depot, J.C. Penney, Levin Furniture, Dick’s Sporting Goods, Regal Cinemas, Toys “R” Us and Cost Plus World Market.

“Akron and similar cities are back in favor with investors,” commented Kris Cooper, a JLL managing director.

Kroger has unveiled a bold initiative to digitize every aspect of its physical store in an effort to measure a breadth of operational metrics to enhance the shopper experience.

It may not rival the FIFA World Cup, but there’s nothing bigger than the Dr Pepper Dallas Cup when it comes to international youth soccer tournaments in the United States.

Now in its 35th year, the recently concluded youth tournament crowned winning teams from throughout the world who competed in eight age classifications. Other big winners at the event were eight U.S.-based community organizations who each received donations of $5,000 in sports gear on behalf of the winning teams.