Corporate Governance

Recent announcements that Apple will partner with IBM to release more than 100 mobile iOS applications tailored to work with IBM’s data analytics and cloud services, and that Microsoft will focus on digital work innovation in its smartphone segment, serve as reminders that mobile devices are continuing to evolve. Increasingly, mobile devices are offering features that make it easier for retailers to position advanced computational and analytical power at the point of customer contact. Here are three ways upcoming changes in the capabilities of mobile devices will affect retail.

Montgomery, Ala. -- With the completion of Selas Drive, Eastchase will welcome the beginning of construction for Eastchase Station, a multi-tenant shopping center, and Kobe Japanese Steakhouse and Sushi Bar.

Located at the southwest corner of Eastchase Parkway and Eastchase Lane, Kobe Japanese Steakhouse and Sushi Bar will provide over 7,300 sq. ft. of dining space on the 1.4-acre site. Construction is scheduled to begin in late 2014 and be completed in the spring of 2015.

London -- Natalie Berg, global research director at Planet Retail, commented:

“As a branding expert, Lewis’ first task will be to define Tesco. Philip Clarke himself has admitted that the brand has baggage. It doesn’t stand for value, yet it doesn’t stand for quality, and without a clear proposition we fear that Tesco will continue to lose customers to more relevant and better-defined channels.

Many teachers spend some of their own money on back-to-school supplies and to capitalize on the trend Walmart has introduced a 10% rebate program.

Norwalk, Conn. -- GE Capital announced it is providing Brookstone, the product development company and specialty retailer, with a $115 million senior credit facility. The financing will be used to support the company’s recent acquisition by Sailing Innovation (Sailing) and general working capital needs.

Tyco Retail Solutions, a leading provider of retail performance and security solutions, is expanding its contract with the Inditex Group. The fashion retailer will now leverage Tyco’s RFID-based Inventory Intelligence chain-wide.

Mahwah, N.J. - Dirk Montgomery, executive VP and CFO of Ascena Retail Group Inc. since January 2013, has accepted a position with a healthcare-related company based in Florida. Ascena has initiated a search process for a new CFO.

Montgomery has agreed to remain through the end of the summer. Randy Pearce, a member of Ascena’s board of directors, chair of the Audit Committee, and former CFO of Regis Corp. from 1998 to 2011, will increase his involvement in overseeing the company’s finance department during the transition.

Newell Rubbermaid has signed a definitive agreement to acquire Ignite Holdings from North Castle Partners, a leading private equity firm focused on consumer businesses that promote healthy, active and sustainable living.