Corporate Governance

By Kevin Smith, VP of onshore corporate services for ImpactWeather

According to Forrester Research, weather is the leading cause of business disruptions¹. From commodity demands and supply chain interruptions to community assistance, retailers know the power that severe weather has over their economic profits and losses.

Philadelphia -- Five Below announced the departure of Jeffrey Moore, executive VP merchandising.

"Over the last seven years Jeff has been an integral part of the success of Five Below as he has helped build the world-class merchandising team we have in place. We thank Jeff for his significant contributions to the business and we wish him well as he leaves to spend time with his family," said Tom Vellios, co-founder and CEO of Five Below.
   

New York -- Target Corp. on Wednesday requested that customers no longer carry guns in its stores.

The retailer found itself embroiled in controversy when gun-rights activists in Texas and several other states chose Target stores to demonstrate their belief in the right to openly bear arms. In response, the chain came under heavy fire from groups such as "Moms Demand Action for Gun Sense" and others who expressed concern about firearms being carried into an environment where the shoppers are often accompanied by children.

Less than a month after former Walmart.com CEO  Joel Anderson joined Five Below as president, the discount retailer’s EVP of merchandising Jeffrey Moore has resigned.

Five Below, which bills itself as the leading retailer of trend-right, high-quality, extreme-value merchandise for pre-teens, teens and beyond, spoke highly of Moore who is leaving to spend time with his family.

Milwaukee – Roundy’s Supermarkets Inc. is closing its distribution center in Stevens Point, Minnesota. The closure, expected to take place by Sept. 30, will eliminate 196 jobs.

To honor a decorated Indianapolis veteran and dedicated volunteer with Wish for Our Heroes, Indianapolis Colts punter Pat McAfee and tight end Coby Fleener joined forces with Hhgregg.

Together, the group transformed the home of retired US Army veteran Erich Orrick, a Bronze Star and Purple Heart recipient.

Minneapolis – The Securities and Exchange Commission (SEC) is reportedly investigating whether Target Corp. adequately protected its data and informed shareholders about the possible consequences relating to its fall 2013 data breach, according to Bloomberg. The report said that Target is one of several public companies that suffered a data breach which is being investigated by the SEC.

Walmart is enhancing its perishable supply chain in the upper Midwest with a new distribution center in Mankato, Minn., slated to open in early 2015.

The retailer broke ground late last month on the 420,000-sq.-ft. facility located a little more than an hour southwest of Minneapolis. Once open in the Spring of 2015 the DC will serve stores in Minnesota and neighboring states of Iowa, North Dakota, South Dakota and Wisconsin.