Corporate Governance

Retailers are always looking for ways to operate more efficiently and it appears a similar philosophy is being employed by cyber thieves who covet their massive trove of personal information.

Camp Hill, Pa. -- Rite Aid said that its same store sales for the week ended December 27, 2014, increased 5.3% over the prior-year period.

The drugstore chain’s pharmacy same store sales, which included an approximate 123 basis points negative impact from new generic introductions, increased 7.3%. Prescription count at comparable stores increased 5.1% over the prior-year period. Front-end sales were up 1.7%

An incentive of up to $25 is being offered by Sam’s Club as part of a multifaceted initiative to increase membership, drive sales, promote social media awareness and procure email addresses.

Santa Clara, Calif. - Intel Corp. has made a $24.8 million investment into Vuzix Corp., a provider of  wearable display technology video eyewear and smart glasses products in the consumer, commercial and entertainment markets. Vuzix is focused on next-generation optics and displays that have the potential to fit in fashion-based wearable glasses.  

Intel's investment will be used for general working capital to accelerate the introduction of Vuzix next generation fashion-based wearable display products into the consumer market.

Just six months after being named chairman and CEO of Target, Brian Cornell is pulling the plug on the retailer’s 133 unit Canadian operation and will incur a $5.4 billion pre-tax loss in the fourth quarter to do so.

Target said it plans to discontinue operating stores in Canada through its indirect wholly-owned subsidiary, Target Canada Co. and that it had filed an application for protection under the Companies’ Creditors Arrangement Act (the “CCAA”) with the Ontario Superior Court of Justice in Toronto.

Chain Store Age will be closed for the New Year’s holiday from December 31  through January 2.   We will return to normal business hours—and publish again—on Monday, January 5.   CSA wishes you and your family a very happy and healthy 2015. Cheers!

Oklahoma City – Fast food chain Sonic is heading upstate. Sonic has signed a new agreement for franchise development of eight new drive-ins in the Albany, New York area during the next seven years, with the first restaurant opening in Latham this spring.  

Jo-Ann Fabric and Craft Stores has reinforced its support of the military by introducing an everyday 10 percent discount for all past or present members of the armed forces and their families.

The nation’s leading fabric and craft specialty retailer with 850 stores said all military members, past or present, and their families qualify for the 10 percent everyday discount. To receive the discount, customers must provide proof of military service or military dependent ID upon checkout. The discount is valid in-store only.