Corporate Governance

Despite continuing to lose money, Books-A-Million announced higher same store sales for the third quarter.

Prolific developer Trademark Property Company is doing its part to ramp up the country’s new development and active redevelopment stats. The Fort Worth, Texas-based firm has five projects under construction:

Wet Seal has hired an investment banker and a senior adviser to analyze potential financial alternatives for the struggling retailer.

The company said it has hired investment bank Houlihan Lokey and former Tilly's Inc. executive William Langsdorf to aid in a strategic review. Wet Seal said it has not set a deadline for completion of the process and that “there can be no assurance that the exploration of the potential alternatives will result in a transaction.”

New York - The fast-growing accessories retailer Charming Charlie is entering the New York City market in spring 2015.   

Atlanta – The Home Depot Inc. faces at least 44 lawsuits connected with a data breach that affected the retailer from April-September 2014. In a regulatory filing, the retailer said state and federal agencies are investigating the breach and more legal action is possible.

Fort Myers, Fla. – Chico’s FAS Inc. reported a net loss of $28.5 million in the third quarter of fiscal 2014, compared to net income of $35.8 million in the third quarter of the previous fiscal year and below Wall Street predictions. Non-cash goodwill and trade name impairment charges drove Chico’s into the red.   Sales totaled $665.6 million, an increase of 1.5% compared to $655.6 million. Same-store sales dropped 1.6%.  

Englewood, Col. - Sports Authority continues to roll out its enhanced store environment in both existing stores and new locations nationwide. Most recently, the retailer completed the remodel of an existing store and also opened two new units in the Las Vegas area.  

Recent trends bode well for consumer spending    

Blue skies and cool breezes. That’s the economic forecast as the calendar turns for a new year.