Corporate Governance

By Joseph Bona, [email protected]

In media interviews of late, Beth Newlands Campbell, the new CEO of Food Lion, has been offering reporters a frank assessment of the supermarket chain’s ho-hum, middle-of-the-road situation: “Staying the same,” she explains, “is not an option.”

Hingham, Mass. – Building #19, a closeout retailer with 10 stores in Massachusetts and New Hampshire, is reportedly planning a giant closeout sale of its own. According to the Boston Business Journal, Building #19 filed for Chapter 11 bankruptcy on Nov. 1 and requested permission to obtain the services of liquidation sale specialist Gordon Brothers.

Davenport, Iowa -- Von Maur Department Store has opened its first store in the state of Alabama, at Riverchase Galleria in Hoover. The 185,000-sq.-ft. store is also one of the company’s largest locations to date.

"After opening our first Southeastern location two years ago, we couldn't be more excited to continue building on our success in the region with the addition of our first Alabama location at Riverchase Galleria," said Jim von Maur, president of Von Maur."

Seattle -- Zoomingo, the personalized shopping discovery app that helps shoppers find the best deals in their local stores and malls, announced an agreement with Simon Property Group, the largest mall operator in the U.S., to market the Zoomingo app for the upcoming 2013 holiday shopping season.

Phoenix -- Leslie's Poolmart announced it has acquired the assets of Pool Supply World, one of the nation's premier Internet retailers of swimming pool supplies.

As a separate division of Leslie's Pool Supplies, the acquired business will continue to operate as Pool Supply World with its distinct brand and website. Mark Krueger, CEO of Pool Supply World, will continue to lead the business.

New York -- Saks Fifth Avenue Off 5th plans to open a new store in Pearl, Miss., (metropolitan Jackson) on Nov. 14.

The 17,000-sq.-ft. store will be located in the Outlets of Mississippi in Rankin County, one of the fastest growing areas in the state. The outlet is developed by Spectrum Capital, an affiliate of the Yates Companies.

Brentwood, Tenn. -- Tractor Supply Company announced that its board of directors has elected Cynthia T. Jamison, 54, to succeed James F. Wright as chairman of the board upon the conclusion of Wright's term at the end of the year.

Jamison will become chairman effective January 1, 2014. Wright will resign his position as a board member effective December 31, 2013, consistent with his plan to serve as executive chairman of the board with a term of one year, as previously announced in September 2012.

Rockford, Mich. -- Wolverine Worldwide announced the appointment of Ira P. Hernowitz as president of the Stride Rite Children's Group. He most recently served as executive VP of "R" Us Brands for Toys R Us, Inc.

Hernowitz has served in a variety of leadership roles during his career, and his strong background in children's products, coupled with his retail expertise.

Fremont, Calif. -- Men’s Wearhouse again rejected a $2.3 billion takeover bid by Jos. A. Bank, refusing to allow it confidential access to its books. Last week, Jos. A. Bank sent a letter to Men’s Wearhouse, hinting that it might raise its proposed takeover offer above $48 a share if it was allowed to conduct due diligence.

In a statement on Monday, Men’s Wearhouse once again reiterated its belief that its own turnaround plan would be better for shareholders.

Shoppers continue to integrate digital devices into their lives and crave an equally integrated experience from retailers, but satisfying this heightened set of ominchannel expectation remains a work in progress for most retailers.

Few retailers have a well-defined omnichannel strategy with most professing to be in the development phase, according to a global consulting firm Hay Group. This rather worrisome insight was among the key findings in global consuling firm Hay Group’s 7th annual holiday hiring survey.