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Corporate Governance

  • Target creates Digital Advisory Council to speed omnichannel efforts

    Minneapolis -- Target Corp. has formed a Digital Advisory Council as part of its efforts to accelerate its digital transformation. Target said the council will help guide the retailer’s omnichannel strategies and push it to innovate faster, and discover new ways to leverage technology to enhance the shopper experience – both online and in stores.

  • Store expansion up, profits down at Chico’s

    Women’s apparel retailer Chico’s FAS increased its store count by 99 units in the first quarter even as traffic declined and profits tumbled.

  • Apple in $3 billion deal to buy Beats Electronics

    CUPERTINO, Calif. -- In its largest deal ever, Apple said on late Wednesday that it is buying Beats Electronics LLC for $3 billion. Beats is a key player in the premium headphone market and is also in the streamlining music business.  
     
    Apple will pay $2.6 billion in cash and another $400 million in equity for Beats, whose founders rapper and producer Andre Young (aka Dr. Dre) music-industry  mogul Jimmy Iovine  will join the tech giant.

  • Cache to sell $14 million of stock in public offering

    New York – Specialty women’s apparel retailer Cache Inc. intends to offer and sell, subject to market and other conditions, $14 million of its common stock in a public offering. Cache intends to grant the underwriter a 30-day option to purchase up to an aggregate of 15% of the amount of common stock offered.

    Cache expects to use the net proceeds from the offering for working capital and general corporate purposes. In connection with the offering, B. Riley & Co., LLC is acting as the sole underwriter.

     

  • Conn’s heads to Tennessee with HomePlus store format

    Conn’s, a specialty retailer of home appliances, furniture, mattresses, consumer electronics, announced the opening of its first two Conn’s HomePlus stores in Tennessee.

    The HomePlus store format showcases furniture and mattresses in addition to the leading brands and the latest technologies in consumer electronics and home appliances. The stores are at Cross Creek, in Memphis, and at Town & Country Commons, in Knoxville.

  • Report: Chinese authorities ask Wal-Mart to resolve labor dispute

    Bentonville, Ark. – Wal-Mart Stores Inc. has reportedly been given a May 30 deadline to settle a labor dispute in the Chinese city of Changde. According to the Wall Street Journal, Changde officials want Wal-Mart to reach an out-of-court settlement with workers at a store there which is scheduled to close.

  • Target’s digital transformation

    Target has formed a digital advisory council as part of its efforts to accelerate its digital transformation. The company will look to the panel of technology industry leaders to help guide its omnichannel strategies.

    The council includes experts with varied tech backgrounds, and includes Ajay Agarwal, managing director of Bain Capital Ventures; Amy Chang, CEO/co-founder of Accompani, former head of Google Analytics; Roger Liew, chief technology officer of Orbitz Worldwide; and Sam Yagan, CEO of the Match Group and CEO/founder of OkCupid.

  • Study: Q2 will improve for brick-and-mortar retailers

    San Jose, Calif. – Second quarter 2014 will be less of a hardship for retailers than the first quarter, which started off the spring season on a negative trend across the metrics of traffic, conversion rate and sales per store (SPS). Data from store analytics technology provider RetailNext indicates that compared to the second quarter of 2013, traffic at brick-and-mortar stores nationwide will be down 6%, SPS flat and sales down 4%.

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