Corporate Governance

Philadelphia - Investors are feeling bullish on upcoming retail opportunities in Philadelphia, and it’s evident as JLL’s Capital Markets experts announced the sale of One and Olney Square on behalf of BLDG and The Feil Organization. Wharton Realty Group purchased the center.

Anchored by ShopRite, the community shopping center totals 339,784 sq. ft. and includes tenants such as Dollar Tree, Modell’s and Burger King.

Evansville, Ind. – Net income dipped to $10.8 million in the third quarter of fiscal 2014 from $10.9 million the same period the prior fiscal year. Net sales fared better, climbing 7% to $254.69 million from $235.77 million, ahead of previously issued guidance.

Seattle – Starbucks wants customers to feel wonderful this holiday season. From now through Jan. 5, 2015, customers who pay using a Starbucks Card or Starbucks mobile app, can enter the Starbucks It’s a Wonderful Card Ultimate Giveaway.

The omnichannel promotion offers the chance to win one of 482,000 instant prizes, and 10 customers in the U.S. will win the prize of Starbucks for Life, which is one free food or beverage item from participating stores every day for the next 30 years.

Healthy e-commerce growth offset a sales slowdown at Ascena Retail Group’s physical stores and enabled the company to achieve its first quarter financial expectations.

Ascena, operator of stores under the Lane Bryant, Cacique, Maurices, Dressbarn, Catherines, Justice and Brothers brands, said same store sales declined 2% during its first quarter ended Oct. 25 as a 16% comp increase online wasn’t enough to offset a 4% decline at physical stores.

Washington, D.C. – In-store sales were down from Thanksgiving Day through Black Friday, but the culprit may have been early holiday shopping more than lackluster consumer interest. According to the Applied Predictive Technologies (APT) Index of U.S. same-store sales, in-store sales dropped 5.8% during that two-day period compared to the previous year.

San Francisco - Most consumers do not feel safe when shopping online and many are shying away from their favorite retailers as a result. According to the ‘Trust in the Internet’ survey of 10,000 U.S. and U.K. consumers from NCC Group and IDG, nearly eight out of 10 people (77%) do not feel very safe when shopping online and, with the holidays just a few weeks away, nearly a quarter reveal they are doing less online due to security concerns (23%).

Shoppers at Kmart who are looking for that must-have toy this holiday season will be also able to help raise money to end childhood cancer and other diseases.

Kmart has announced that beginning this Sunday through Dec. 13, the retailer will donate $1 to St. Jude Children’s Research Hospital for every purchase from its annual Fab 15 toy list, up to a maximum donation of $25,000.  

Mahwah, New Jersey - Ascena Retail Group’s first quarter profit topped estimates as strong online growth helped make up for falling same-store sales. The company, which operates the Lane Bryant, Cacique, Maurices, Dressbarn, Catherines, Justice and Brothers brands, reported net income of $53.5 million, compared to $52.6 million in the year-ago period.

Net sales of $1.2 billion for the first quarter were flat compared to the year-ago period. Same-store sales fell 4% while online sales surged 16%.