Corporate Governance

Dayton, Ohio -- Golfsmith International, is opening a store Beavercreek, Ohio, with an grand opening celebration on May 10-May 12.

The new 20,845-sq.-ft. store features a dominant selection of the best brands in golf and the ultimate 'try before you buy' interactive environment. The store has three high-tech golf simulators and an expansive indoor putting green that enable customers to experience the latest equipment.

New York -- Foot Locker Inc. said Wednesday that it will buy German athletic store chain Runners Point Warenhandelsges (RPG) for 72 million euros ($94 million) as it expands in Europe.  
 
RPG, which had sales of $254 million for 2012, operates more than 200 stores — with its most prominent banners being Runners Point and Sidestep — as well as an online subsidiary, Tredex. Most its stores are in Germany, although there are also Runners Point and Sidestep locations in The Netherlands, Austria, and Switzerland.

By Nicholas J. Percoco, Trustwave

Recently, National Security Agency Director Gen. Keith Alexander told Congress that he would be establishing teams for a new cyber command unit. Gen. Alexander said the DoD would use the cyber teams for offensive measures only. This is sure to be the start of a long and interesting hearings on Capitol Hill, but businesses do not, and should not, have to wait before they start to protect themselves from cyber criminals.

Buffalo, N.Y. -- Buffalo, the second largest city in New York, has become the first market in which a majority of Rite Aid's stores have been converted to the Wellness format, the retail pharmacy chain announced Wednesday.

Jacksonville, Fla. -- Revenue at stores open at least one year climbed 8% last month for discount retailer Stein Mart. According to Stein Mart, strong sales of linens and ladies’ casual and career sportswear helped drive revenue growth and offset weaker sales in dresses, ladies’ accessories and men’s sportswear.
 
For the quarter to date, revenue at stores open at least a year increased 1.2% and total revenue climbed 3.8% to $321.4 million.

Memphis -- Fred’s, Inc. reported a slight boost in total sales for the first three months of fiscal 2013 compared to the same period last year – an increase from $500.5 million to $501.4 million. However, comparable store sales during the period decreased 1.3%, compared to a 0.3% drop a year earlier.

Total sales for the four weeks ending May 4 rose 3% from $147.6 million to $152.2 million. Comparable store sales for the month increased 1.2% compared with a decline of 0.3% in the same period last year.

Westborough, Mass. -- Sporting goods retailer Modell’s is launching Micros-Retail’s Xstore Point-of-Service, Relate Customer Relationship Management and miStore mobile POS solutions. Modell’s says it intends to transform the customer experience, modernize IT for the stores, reduce training time for IT staff, and streamline day-to-day functions, as well as use miStore to provide quicker customer service with more detailed product information.

Davenport, Iowa -- Some retailers just keep growing, despite economic headwinds, fickle customers and competitive pressures. The family-operated, 140-year-old Von Maur department store company, based in Davenport, Iowa, is one of those retailers. In an exclusive video interview, Chain Store Age senior editor Katherine Boccaccio spoke with Jim von Maur, president, about the chain’s strategy and how it keeps growing in an uncertain economy.

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