Corporate Governance

Phoenix, Ariz. -- Net income at Sprouts Farmers Market Inc. soared 79% to $26.1 million in the third quarter of fiscal 2014 from $14.6 million in the same quarter a year earlier. A reduction in pretax losses helped boost net income growth.  

Mike Smith was named SVP finance and CFO North America at McCormick.  In this role he will oversee investor relations, treasury and serve as the CFO of the newly formed North American Leadership Team. 

Smith’s new team focuses on North American alignment and strategy for growth, performance and people. Joyce Brooks, VP, investor relations and Bob Conrad, VP treasurer will report directly to Smith. 

San Francisco –- Gap Inc. reported declining net and same-store sales for the third quarter and October 2014. For the third quarter Gap’s net sales were $3.97 billion, down 2.5% from $3.98 billion for the third quarter the prior year.  

J.P. Bilbrey, CEO of Hershey, has been appointed by the U.S. Secretary of Commerce to President Obama’s newly-established Advisory Council on Doing Business in Africa (PAC-DBIA).  

Bilbrey will be one of the 15 private sector leaders providing guidance to the president on strengthening partnerships with African nations to leverage the opportunities for U.S. companies committed to supporting the continent for the long term. 

The private-sector council will focus on strengthening the U.S.’ commercial relationships with African nations. 

New York -- RadioShack has brought on rock parody singer Weird Al Yankovich to star in a holiday ad.   Yankovic is appearing in the chain's holiday campaign called "Gift Smart.” In the spot, he sings his own unique take on the holiday song  “Toyland.”   

New York –- Corporate realignment costs, particularly severance, increased net loss at Fairway Group Holdings Corp., the parent company of Fairway Market, during the second quarter of fiscal 2015. Net loss grew to $17.23 million from $12.22 million.  

San Francisco--JLL announced that it has expanded its retail brokerage practice in Northern California with the addition of Jamie Kendall as VP. Kendall will be based in the firm’s San Francisco office, and will partner with the firm’s existing retail, agency leasing and investment sales teams to help maximize the value of retail assets for JLL’s growing client base in downtown San Francisco.

Jackson, Miss. -- Kate Spade New York and Lululemon Athletica are both opening their first permanent Mississippi locations, as Chestnut Hill, Mass.-based WS Development announced the retailers’ grand opening plans at Highland Village in Jackson, Miss.