Corporate Governance

▲ Cloud computing, the remote hosting of applications on virtual platforms for on-demand, Web-based delivery, is on the fast track. Analysts estimate that during the next six years, 90% of new spending on Internet and communications technologies will be on cloud-based technologies.

Cloud computing (which at its simplest means storing and accessing data and programs on the Internet — the cloud — instead of a personal computer) is profoundly impacting how IT professionals implement, deploy and manage technology solutions.

Tewksbury, Mass. – Following the dismissal of former president and CEO Arthur T. Demoulas, the board of directors of Demoulas Super Markets Inc. has elected retail executives Felicia Thornton as COO and Jim Gooch as chief administrative officer, and the two will serve as co-CEOs. Both Thornton and Gooch had recently been serving as consultants to the company.

▲ Investing in energy conservation makes business sense: According to ASHRAE, energy is the second highest retailer operating expense. A new white paper by the Retail Leaders Industry Association (RILA) and Schneider Electric notes that recent weather extremes have increased energy costs for retailers, and the trend is expected to continue. Factor in potential electricity price increases in the near future, and increases in energy costs could be significant.

Deerfield Park, Ill. – A 16% year-over-year jump in third quarter profit still missed Wall Street estimates, causing Walgreen Co. to withdraw previously issued fiscal 2016 guidance. During the third quarter of fiscal 2015, Walgreen reported net earnings of $722 million, up 16% from $624 million in the same period the previous fiscal year.

Digital receipts company flexReceipts has named Megan Licursi as its chief marketing officer.

In her new position, Licursi will oversee the company’s strategic vision and the implementation of its marketing approach. Previously, Licursi has helped national brands create and execute marketing programs, and will bring that to flexreceipts, which uses a software for clients to include promotions and social media links in electronic receipts they send to customers.

It’s a common retail scenario: Last year, several sites deployed consistent schedules and set-points and also staged energy-consuming assets into groups that engaged at different times of the day. These executed measures led to significant kWh savings.

A pound of prevention (which in this case means the use of chip-based payment cards, encryption of data stored in the enterprise, and restriction of third-party network access) is not a complete cure when it comes to improved data security for retailers, according to panelists at the recent CIO Symposium at the MIT Sloan School of Management in Cambridge, Massachusetts.

One complicating issue is that the “cloud” is becoming a “fog” as the Internet of Things continues expanding the range of devices that are online with IP addresses, creating new security liabilities.

“IP ad

Toronto - Slate Retail REIT has entered into a binding agreement to purchase North Summit Square, a 99% occupied, 224,530-sq.-ft. grocery-anchored shopping center in Winston-Salem, North Carolina, for $15.8 million. The property is anchored by Sam's Club.

"We are very excited to announce our first acquisition since listing on the TSX," said Blair Welch, CEO of Slate Retail. "We see several further opportunities to make accretive acquisitions of grocery-anchored centers in attractive markets."