Corporate Governance

Denton, Texas – Sally Beauty Holdings reported declining net earnings in the second quarter of fiscal 2014 compared to the second quarter of the previous fiscal year. Net income fell 9.9% to $58.9 million, from $64.89 million.

Net sales fared better, rising 2.4% to $919.47 million from $898.24 million. Same-store sales grew 1%. Higher selling, general and administrative expenses, as well as charges related to a previously disclosed data security breach, impacted net earnings. Sally Beauty also cited weather as negatively impacting sales.

Devastating sourcing and supply chain disasters, including the Bangladesh factory collapse in April 2013, have increased the push for retailers and other businesses to implement sustainable and responsible practices across the global supply chain. Tamara Saucier, VP industry – retail solutions, GT Nexus, discussed the topic, and proactive measures retailers can take, with Chain Store Age.

What can retailers be doing to ensure ethical and sustainable supply chain practices?

Walmart CEO Doug McMillon said he was reluctant to hit send on an email inviting CEOs from top global companies to attend the retailer’s Sustainable Product Expo because he knows how busy everyone is. However, when an email from the top executive from the world’s largest company offers an opportunity to “be part of what’s next,” it’s not surprising so many CEOs found time to visit Northwest Arkansas this week.
 

New York -- A bid to raise the federal minimum wage was rejected by Republicans in the Senate, who blocked legislation Wednesday to boost the rate to $10.10 an hour. Senators predominantly voted across party lines, which places Democratic senators in favor and Republican senators opposed.

The defeat was expected, and it is expected to serve as a rallying cry for Democrats preparing their next campaign.

Ten years ago, demographic experts predicted a looming talent shortage: When the massive baby boom generation retired, the small Generation X would not have enough experienced leaders and managers to fill the positions that boomers would vacate.

Similar to the overall retail sector, HSN’s first quarter results were affected by severe weather across the country, as well as softness in women's apparel, particularly at Garnet Hill. The company did report improved performance at HSNi, as demand strengthened throughout March.

New York — Vanguard Wine Bar has signed a 12-year lease for a 1,000-sq.-ft. ground-floor space at 189 Amsterdam Avenue between 68th and 69th Streets in New York City’s Upper West Side. It will be Vanguard’s second Manhattan location.

RKF represented both the tenant and the landlord, Ogden CAP Properties, in the transaction.

Despite what president and CEO Ajay Banga called a “mixed global economy,” MasterCard Incorporated kicked off the year with a strong quarter.

The company reported net income of $870 million, up 14%, and earnings per diluted share of $0.73, up 18%, in each case versus the year-ago period.