Corporate Governance

Jackonsville, Fla. -- Stein Mart on Thursday said it has appointed Sara Meza as director of e-commerce.

Meza came on board in April, following a 12-year tenure at Belk where she led the original launch of the retailer’s website business.

Walmart is reportedly planning to substantially expand its e-commerce operation based in Sunnyvale, California. According to the Oakland Tribune, Walmart intends to add hundreds of staffers to its global e-commerce unit there, bringing the total number of e-commerce employees to about 1,000.
 
In addition, Walmart will lease a 107,000-sq.-ft. space in Sunnyvale to help house its e-commerce operations. Currently, the retailer employs about 550 e-commerce employees in Sunnyvale at an existing facility it will maintain.

San Francisco – Williams-Sonoma had a strong first quarter of fiscal 2014, with net income climbing 17% to a better-than-expected $46.16 million from $39.17 million.

Net sales grew 10% to $974.33 million from $887.8 million, also topping estimates.

Total same-store sales grew 10%. Williams-Sonoma credited much of its success during the quarter to market share gains and advantages conferred by its multichannel operations.

Kirkland's experienced solid sales momentum in its stores and online during the first quarter of fiscal 2014 despite getting a slow start as a result of adverse weather. Even with a more promotional environment late in the quarter, sales remained strong and resulted in earnings performance at the high end of the company’s guidance.

Miami — Executive chef and owner Cindy Hutson plans to open a new restaurant concept called Zest in the 30,000-sq.-ft. plaza of Miami’s 1.2-million-sq.-ft. Southeast Financial Center office building. It will be her second restaurant brand following the well-regarded Ortanique, which has locations in Miami, and the Cayman Islands.

Stein Mart has named Sara Meza as director of e-commerce. Although Meza came on board in April — after a 12-year tenure at Belk where she led the original launch of the retailer’s website business — the company made the announcement in conjunction with solid first-quarter results.

Net income for the quarter decreased to $14.1 million, or $0.31 per diluted share, from a net income of $14.7 million, or $0.33 per diluted share in 2013.

Corte Madera, Calif. – RH (Restoration Hardware Holdings) has opened RH Greenwich, The Gallery at the Historic Post Office, in Greenwich, Connecticut. After years of planning and preservation to honor its singular place in the town’s cultural landscape, the building’s exterior has been completely restored, while the interior has been reimagined and a second story conservatory and rooftop park has been added.

Hoffman Estates, Ill. – Sears Holdings Corp. on Thursday said it plans to close at least 80 stores this year as the retailer continues to deal with mounting losses. The retailer reported that its fiscal first quarter net loss grew to $402 million, from $279 million in the prior year first quarter.