Corporate Governance

Purchase, N.Y. -- After several months of sluggish retail sales, consumer shopping in the U.S. rebounded in April, according to the latest MasterCard SpendingPulse report, which aggregate national retail sales activity in the MasterCard payments network, coupled with estimates for all other payment forms, including cash and check.

York, Pa. -- The Bon-Ton Stores Inc. has secured a 743,000-sq.-ft. lease for a direct-to-consumer fulfillment center in West Jefferson, Ohio, with E Smith Realty Partners. The new e-commerce facility is expected to be fully operational and begin shipping orders by spring 2015.

Brisbane, Calif. – Bebe Stores Inc. reported a net loss of $24.3 million in the third quarter of fiscal 2014, an improvement from the net loss of $49.3 million recorded in the same quarter a year earlier.

However, net sales were $93.5 million, a decrease of 17.2% from $112.9 million for the third quarter a year ago.

Same-store sales for the quarter decreased 5.7%.

Bentonville, Ark. - At an event with President Barack Obama, Walmart announced that it will double the number of on-site solar energy projects at its U.S. stores, Sam’s Clubs and distribution centers by 2020. The commitment is part of Walmart’s global initiative to drive the production or procurement of 7 billion kilowatt hours (kWh) of renewable energy by the end of 2020.

RadioShack is scaling back its plans to close 1,100 stores. In a regulatory filing with the Securities and Exchange Commission (SEC), the retailer said its lenders are offering unacceptable terms for RadioShack to proceed with that many store closures. However, the company will still shutter a number of locations as part of its turnaround plan.
 

Atlanta — CBL & Associates Properties has closed the sale of Lakeshore Mall to a private investor for $14 million. JLL brokered the transaction.

Belk, Bealls, Kmart, J.C. Penney and Carmike Cinema anchor the 490,086-sq.-ft. retail center in Sebring, Florida. A nearby Sears is a shadow anchor.

With its 95% occupancy rate, Lakeshore Mall anchors the retail hub that serves central Florida along U.S. Highway 27, the major north-south thoroughfare. Traffic counts average about 38,500 vehicles per day.

New York -- The United Kingdom’s Selfridges was named ‘Best Department Store in the World’ for the third consecutive time by the Intercontinental Group of Department Stores (IGDS). The award was given at the group’s Global Department Store Summit, which was held last week. The event is held every other year.

Selfridges was in competition for the award with Macy’s and the German retailer Breuninger.

Ralph Lauren’s executive vice chairman Roger Farah plans to leave the company at the end of the month. Farah will remain on the board of directors until the expiration of his term on the date of the company’s 2014 annual meeting of stockholders in August.