Corporate Governance

Discount retailing has undergone a major transformation in recent years

Toward the end of 2008, it became painstakingly obvious to retailers that impulse spending was out and frugal saving was in. Faced with an imminent recession, staggering job loss and quickly depleting discretionary and savings accounts, consumers began to shift their focus to value. The impact of such a large-scale economic event and an abrupt consumer focus shift would appear to alter the fundamental realities of retail.

All eyes were on Texas as Chain Store Age’s SPECS conference celebrated its 50th annual show with an opening keynote by President George W. Bush. The 43rd president of the United States, who participated in a discussion moderated by Walgreens president and CEO Gregory Wasson, was given a standing ovation by attendees.

Littleton, Mass. - Dover Saddlery Retail Inc. plans to open the first Dover Saddlery tack store in Ohio in summer 2014. The store will be located in Cincinnati and offer in-store services including a saddle demo program and custom boot measuring.

Redevelopment continues to ignite retail

One of the most fascinating aspects of our ongoing economic recovery is the paradigm shift with respect to commercial development priorities. In the wake of the recession, new development has largely taken a backseat to redevelopment as developers and retailers alike have set their sights on opportunities in core urban markets that have been historically underserved.

Lakewood, Colo. – Net income climbed 24.3% at Natural Grocers by Vitamin Cottage Inc. in the second quarter of fiscal 2014, rising to $4 million from $3.21 million in the same quarter the prior fiscal year. For the remainder of the current fiscal year, Natural Grocers plans to open six new stores and remodel one.

Heating, ventilation and air-conditioning technology is in the midst of a dramatic evolution brought on by a variety of factors, including regulations, retailers’ needs for technological sophistication, operational and cost efficiency, and ease of implementation and use. These and other topics were discussed in the SPECS session, “Evolution, Revolution: The Future of HVAC and Refrigeration.”

Session moderator Bob Keingstein, president of Boss Facility Services, asked panelists to discuss several pointed questions focused on different key areas of the evolution of HVAC.

Mixed-use project Celebration Pointe is set to move forward

For Gainesville, Fla.-area residents, these are exciting times. Celebration Pointe, one of the more distinctive mixed-use projects in the state of Florida, is about to hit a significant milestone: The initial phase of the ambitious, $170 million development broke ground in April with site preparation and significant public infrastructure upgrades.

Fast-growing flooring retailer The Tile Shop is leveraging social media with a clever contest idea to expose its expanding brand to more customers.

The operator of 92 specialty flooring stores is giving social media users until May 22 to enter its, “Ugliest Kitchen & Bath Contest,” for a change to win $1,000 in free tile and a design consultation. All photo submissions will be eligible for weekly $100 gift card drawings. Homeowners can enter photos of their ugly kitchens and bathrooms to Facebook or Instagram using #thetileshop for a chance to win.