Corporate Governance

For Los Angeles-based fashion retailer Forever 21, the journey from a single location on Figueroa Street in L.A. in 1984 to more than 680 global locations today has been transformative. Over the last three decades, the brand has not shied away from innovation and experimentation, implementing a range of different store sizes and concepts along the way: from smaller 5,000-sq.-ft. layouts in its early years, to larger 9,000-sq.-ft. concepts in the 2000s and a range of big-box stores that range up to 40,000 sq. ft.

Target Chairman and CEO Brian Cornell unveiled a wide-ranging growth strategy that combines familiar concepts with dozens of new initiatives related to merchandising, digital, expense control, process improvement and a major shift in corporate culture designed to drive growth for the next five years.

New York -- Retail and brand consultancy Fitch has appointed Hermann Behrens to the newly created role of CEO, North America, effective immediately. Behrens will lead the business out of Fitch’s newly established office in New York.

Behrens will be responsible for expanding Fitch’s reputation and client base in North America. He will work closely with the management teams at the company’s design studio in Columbus, Ohio and its architecture and engineering practices in Phoenix, Atlanta and Irvine.

Stage Stores' approach to operating department stores in small to mid-sized towns enabled the company to grow holiday season sales and profits faster than some of its big city rivals.

The company’s 853 departments stores, operating under the banners of Bealls, Goody’s, Palais Royal, Peebles and Stage, grew sales 6.6% to $525 million and profits from continuing operations increased 35% to $43.7 million during the fourth quarter ended Jan. 31. Same store sales increased 6.4% and the company’s e-commerce business grew 30%.

On the heels of Samsung’s announcement that it would roll out Samsung Pay in the United States this summer, PayPal has announced it is buying mobile wallet technology startup Paydiant.

Paydiant technology powers payment apps for such retail brands as Subway and Harris Teeter supermarkets. But its most notable retail client is the merchant consortium MCX, which is developing an in-store payment app (widely viewed as an alternative to Apple Pay) called CurrentC. Walmart, Best Buy and Sears Holdings Corp. are part of MCX.

Pittsburgh – Strong omnichannel performance, as well as successful marketing and merchandising execution, helped Dick’s Sporting Goods Inc. deliver fourth quarter fiscal 2014 net income beyond previously issued guidance. Dick’s reported net income of $155.5 million, up 12% from $138.6 million a year earlier.

Dick’s plans to open 54 new stores during fiscal 2015, including 45 namesake stores and nine Field & Stream stores.

New York -- Retailers who take a holistic approach to measuring the benefits of new store designs are most successful in accurately quantifying the bottom-line results, according to new research from EWI Worldwide and A.R.E. (the Association for Retail Environments).

Target is trying to increase its appeal with Hispanic shoppers by launching a new marketing campaign focusing on customs that are unique to many Latino communities.

The campaign, called “Sin traduccion,” or “No translation,” will feature two television ads, as well as digital and in-store components.

According to Ad Age, the campaign is meant to be a celebration of moments, traditions and emotions that are treasured by many in the Hispanic culture and spark a larger conversation with the community.