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Corporate Governance

  • Easter shift, weather dampen 1-800-Flowers Q3 results

    Carle Place, N.Y. – A shift in the Easter holiday from the third to the fourth quarter and severe weather negatively impacted financial results at 1-800-Flowers.com during the third quarter of fiscal 2014. 1-800-Flowers reported a net loss of $1.42 million, compared to net profit of $2.64 million in the prior fiscal year.

    Net sales dropped 9% to $139.92 million, from $144.55 million.

  • Wal-Mart records $151 million net loss on India transaction

    Bentonville, Ark. – Wal-Mart Stores Inc. incurred a net loss of $151 million in the process of ending its partnership with former Indian partner Bharti Enterprises. According to Wal-Mart financial statements, in October 2013 the retailer paid $100 million for Bharti’s 50% interest in Bharti Wal-Mart Pvt. Ltd., which operates 20 wholesale stores in India.

  • Stein Mart announces new office of the president

    Jacksonville, Fla. -- Stein Mart’s board of directors has appointed D. Hunt Hawkins and Brian R. Morrow to share the newly created office of the president. Both men will continue to report to CEO Jay Stein.

  • Goal Zero taps former REI SVP Lee Fromson as president, COO

    Goal Zero, innovator of portable solar power systems, has appointed former REI SVP of merchandising Lee Fromson to president and COO.

    The company has also made strategic changes to its executive team, with current president and CEO Joe Atkin assuming the role of co-chairman of the board, and founder and chief creative officer Robert Workman becoming CEO.

  • Sunoco to acquire c-store operator Susser Holdings for $1.8 billion

    New York -- Energy Transfer Partners, parent company of Sunoco, plans to acquire Susser Holdings Corp in a stock-and-cash deal valued at $1.8 billion.

    Susser operates 630 convenience stores under the Stripes and Pac-N-Sac banners, in Texas and surrounding states. Sunoco operates more than 5,000 stores, primarily on the East Coast.

  • Flip Flop Shops to open 20 Caribbean franchise stores

    Atlanta - Flip Flop Shops has signed a master franchise agreement with Happy Toes Caribbean that calls for the establishment and development of at least 20 new shops throughout the islands, the first of which will open in Aruba in late 2014. The master franchise rights agreement also covers the management of three established stores in St. Thomas, St. Maarten and Curacao.

  • NACDS appoints new officers, members

    The National Association of Chain Drug Stores has elected new officers, one new executive committee member and three new board of directors members for the coming year during its annual meeting this weekend.

    John Standley, chairman and CEO of Rite Aid, was elected as the new NACDS chairman of the board of directors. Standley succeeds Robert Narveson, president and CEO of Thrifty White Pharmacy. Additionally, Juan Ortiz, CEO Navarro Discount Pharmacies, was named vice chairman and Randall Edeker, chairman and CEO Hy-Vee, was elected treasurer.

  • R.J. Brunelli & Co. completes multiple retail leases in New Jersey, Maryland

    Old Bridge, N.J. - R.J. Brunelli & Co., LLC has recently completed a series of leases that will bring retail tenants to sites throughout New Jersey and Maryland. Dollar Tree recently signed a lease that will bring its Deal$ concept to an 11,400-sq.-ft. space in downtown Elizabeth, New Jersey. R.J. Brunelli serves as the retailer's exclusive real estate representative for all of New Jersey.

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