Corporate Governance

Finish Line chairman and CEO Glenn Lyon said the company’s successful execution of its consumer-centric omnichannel strategy drove solid gains in its core business and that growth initiatives contributed meaningfully to its record full-year revenue and profits.

The company reported net income of $42.75 million during the fourth quarter, up 28% from $33.47 million in the year-ago period. Net sales climbed 17% to $518.87 million from $442.68 million and same-store sales increased 6.3%.

New Lululemon CEO Laurent Potdevin said 2014 is a year for investing, strengthening the company’s foundation, reigniting its product engine and accelerating sustainable and controlled global expansion.

New York -- H & M, Hennes & Mauritz AB opens its first Hawaii store in Waikiki on March 28. The store features a one-of-a-kind installation featuring artwork of local surf photographers Mike Coots, Sarah Lee and Zak Noyle.

The Waikiki store has hired 160 local employees.

Cortre Madera, Calif. – Restoration Hardware Holdings Inc. (RH) swung to a profit in the fourth quarter of fiscal 2013 amid ongoing sales growth. The retailer posted net earnings of $26.64 million, compared to a net loss of $28.36 in the year-ago period.

Net revenues grew 18.5% to $471.69 million, from $398.05 million. Same-store sales grew 17%.

PetSmart CEO David Lenhardt was joined by Lt. Governor Jim Cawley of the Commonwealth of Pennsylvania and Congressman Charlie Dent (PA-15) at the grand opening of PetSmart’s new distribution center (DC) in Berks County, Pa.

This DC will bring an estimated 500 jobs to Berks County by the end of 2016. The 870,000-sq.-ft. facility will serve 25% of PetSmart’s stores in 11 states, handling and delivering consumables, hard goods and fish to 170 PetSmart stores in 2014 and more than 260 stores by 2015.

Oceanside, Calif. — Doerken Properties Inc. has acquired Flags on Mission Shopping Center in Oceanside, Calif., for $12.6 million. El Super grocery and dd’s Discounts anchor the 107,600-sq.-ft. property.

The Carlsbad, Calif., office of Lee & Associates brokered the transaction representing both the buyer and the seller, Mission Avenue Investors.

Bangalore, India – Mobile cloud platform company MobStac has added a new set of mobile commerce features that are capable of providing consumers with a universal shopping experience across all devices. The MobStac platform now provides an extension for all major commerce backend systems such as Magento and OpenCart.

It’s official. Loblaw has completed its acquisition of Shoppers Drug Mart Corporation, which is now a separate operating division of Loblaw.

"The most successful partnerships are grounded in strengths that complement each other," said Galen G. Weston, executive chairman, Loblaw. "Loblaw and Shoppers Drug Mart are perfect partners. We will drive growth and profitability through our unmatched mix of store formats, products and offerings. This is truly a case of the whole being greater than the sum of its parts."