Corporate Governance

Oak Brook, Ill. – McDonald’s Corp. reported net income of $1.2 billion in the first quarter of fiscal 2014, a 5.5% decline from $1.27 billion in the same quarter a year earlier. Total revenues grew 1% to $6.7 billion, from $6.2 billion.

Tuesday Morning Corporation has appointed former Home Depot executive Melissa Phillips as EVP and general merchandise manager. Phillips will report directly to CEO Michael Rouleau.

Dallas – Tuesday Morning Corp. and former CEO Kathleen Mason have settled a discrimination lawsuit filed by Mason. In the suit, Mason alleged she was dismissed from her position by Tuesday Morning after disclosing she had breast cancer.

The suit was filed in May 2013 and dismissed on April 17. Terms of the settlement were not disclosed.
 

Seattle -- Nordstrom plans to open a Nordstrom Rack at University Crossing in Orem, Utah.

The approximately 30,000-sq.-ft. store is scheduled to open in spring 2015. University Crossing is owned and managed by University Crossing Shopping Center.

Columbus, Ohio — First Interstate Properties has named Steiner + Associates as the exclusive retail leasing agent for its 610,000-sq.-ft. mixed-use Legacy Village in Lyndhurst, Ohio.

Troy Risch resigned his position EVP of store operations at RadioShack the company disclosed in a filing with the Securities and Exchange Commission on Tuesday.

Dallas – Tuesday Morning Corp. has named Melissa Phillips as executive VP and general merchandise manager, effective immediately. She brings 15 years of buying and retail experience to Tuesday Morning. Since 2009, she has served as general manager for The Home Decorators Collection (HDC) at The Home Depot.
 

Bebe Stores is updating its net loss per share guidance for the third quarter ended April 5 based on its preliminary financial results.

Comparable store sales for the quarter decreased approximately 5.7%. Net sales were approximately $93 million, a decrease of 17.2% from $113 million reported for the third quarter a year ago. The company said the sales decrease was due partially to one fewer retail week in January in the current fiscal year coupled with the closure of 19 unproductive stores since the prior year third fiscal quarter.