Corporate Governance

New store growth, 13.4% operating margins and totally untapped e-commerce potential failed to impress would-be Michaels investors when the company returned to public ownership Friday, June 27.

St. Louis -- Schnuck Markets announced that Robert Hardester has been appointed the company's new CIO. Hardester succeeds Mark Zimmerman, who recently announced that he would be leaving the company.

Hardester most recently served as a VP corporate systems at Express Scripts, where he was responsible for application development. He previously held the position of CIO at Furniture Brands International and at General Electric.

The Rick Dreiling era is coming to an end at Dollar General as the chairman and CEO announced plans to retire next year, initiating a search internally and externally for a successor.

New York -- Trader Joe’s continues its expansion in South Florida with fall openings planned for three stores in Palm Beach County, the Sun Sentinel reported.

The grocer will open locations in Delray Beach, Palm Beach Gardens, Boca Raton, all in September, the report said.

In its PizzaRev case study series, CSA offers an insider’s look at the conception, initial rollout and growth of the southern California-based fast-casual concept PizzaRev. Likened to “the Chipotle of pizza,” this innovative chain lets customers choose from an artisanal array of toppings to craft their own pizzas very quickly in a high-end stone hearth oven.

New York -- The Supreme Court of Canada has ruled that Wal-Mart violated Quebec labor law by closing its store in Jonquiere, Quebec, in 2005.
 
In a 5-2 decision announced on Friday, the court ruled that the 190 employees who were terminated when the store was closed are entitled to compensation, according to CBC Montreal.  
 

Paterson, N.J. — Planet Fitness will open an 18,000-sq.-ft. facility at 100 Hamilton Plaza in Paterson, New Jersey, the facility will occupy the first-floor retail space in the 175,000-sq.-ft. downtown office tower.

Cushman & Wakefield’s East Rutherford, N.J., office represented the building’s owner, Mountain Development Corp. in the transaction. Ripco Real Estate represented the Planet Fitness franchisee, who operates several other regional locations.

Union, N.J. – Bed, Bath and Beyond Inc. had a difficult first quarter of fiscal 2014, missing Wall Street estimates on both profits and sales. Net earnings fell 8% to $187.1 million, from $202.5 million in the same period a year earlier. Sales rose 2% to $2.66 billion from $2.61 billion, and same-store sales climbed 0.4%.