Corporate Governance

Redmond, Washington - Retail Properties of America, Inc. announced the purchase of Avondale Plaza, a 39,000-sq.-ft. neighborhood shopping center in Redmond, Washington (Seattle MSA). The center is located on Avondale Road, and is anchored by PCC Natural Markets.   The purchase price was approximately $15 million.  

Hibbett Sports reported relatively flat third quarter same store sales, but the company achieved record new expansion and is prepared to surpass 1,000 units in 2015.

For the third quarter, Hibbett posted profits of $16.9 million, down from $17.3 million in the prior-year quarter. The decline was mainly due to markdowns related to slow selling and aged inventory, the company said.

NEW YORK - Macy’s is enhancing its Black Friday promotions by giving away  a million dollars in prizes in stores nationwide during doorbuster hours. Beginning at 6 p.m. local time on Thanksgiving Day, customers will have a chance to win big, scoring digital gift codes that can be used instantly for Black Friday purchases.  

Ann Inc. President and CEO Kay Krill cited a number of factors that caused the company to report its first decline in same-store sales in 10 quarters.

New York – Ann Inc. beat Wall Street expectations for the third quarter with net income of $29.9 million, down 27% from $41.2 million the same quarter a year earlier. Pre-tax and after-tax charges associated with the closure of the Madison Avenue Ann Taylor store helped drive down net income.  

Washington, D.C. - The National Retail Federation (NRF) supports immigration reform, but does not think President Obama’s executive action on immigration regulations is the right approach.   The NRF has issued a statement from president and CEO Matthew Shay on the announcement that President Obama will issue a series of executive actions on immigration:  

The news that Zappos opened its first freestanding store caught by the industry by surprise. Here are two expert views:   

As the pet supply industry continues to experience record growth, Petco is looking to expand its online offerings to include prescription services and more premium products.

Petco has agreed to acquire Drs. Foster & Smith, a Wisconsin-based online pet store founded by veterinarians. Drs. Foster & Smith specializes in pet care and education and is known for veterinary expertise on prescription medications and premium products for dogs, cats, fish, birds, reptiles, horses and small animals.