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Corporate Governance

  • RILA: President’s budget falls short on tax reform

    Arlington, Va. -- A statement by The Retail Industry Leaders Association regarding President Obama’s 2014 budget proposal was issued Wednesday, saying, “While we applaud the President for recognizing the urgent need for revenue neutral corporate tax reform, his proposal falls short of the bold reforms needed.” said Bill Hughes, SVP government affairs.  

  • J.C. Penney’s Ullman resigns from Saks board

    New York -- In not-so-unexpected news, a regulatory filing with the SEC on Wednesday revealed that J.C. Penney’s new CEO Mike Ullman has resigned from Saks Inc.’s board of directors, effective Monday.

    Saks has not yet named a replacement for Ullman.

  • Verge Connect teams with c-store parent GPM on smartphone app

    Henderson, N.C. -- Verge Connect said Wednesday it is powering Fas Mart/Shore Stop’s first smartphone application, which debuted in April across more than 200 locations primarily in Virginia, Connecticut, Maryland and Delaware.

    The new application, called Fas APP, integrates with the retailer’s new secure payment card.

    Fas Mart/Shore Stop, which are owned by GPM Investments, selected the Verge Connect platform to help build the company’s digital and mobile presence.

  • Shopko names former Office Depot exec as marketing lead

    Green Bay, Wis. -- Shopko said Wednesday that it has named Michael B. Cooper as senior VP marketing for the company, charged with leading the branding strategy and marketing initiatives.  

    Cooper joined Shopko from Office Depot, where he was most recently VP marketing, and directed the office supply retailer’s strategic planning and allocation of the company’s marketing budget.

     

  • J.C. Penney: The Best Case for Test and Learn

    By Rafi Musher, [email protected]

  • Co-Innovation is the Key

    By Mark Ledbetter, [email protected]

    There's a season for everything, and that's no less true for retailers. Merchants have historically enjoyed a central position in the retail universe, driving everything from pricing to availability. How quickly things have changed. Today, try telling a 19-year-old that she can't get a discount on the slightly frayed jeans she found on the discount rack. She'll buy a similar pair online and Tweet about it so fast, it will make your head spin!

  • NRF speaks out in support of new port contracts

    Washington, D.C. -- The National Retail Federation issued a statement on Tuesday in support of the International Longshoreman’s Association’s approval of a new long-term master labor contract covering port terminal operations along the East and Gulf Coast ports.

  • American Eagle Outfitters names former Guess exec as Asia Pacific head

    Pittsburgh -- American Eagle Outfitters said Wednesday it has named Kitty Yung to the position of EVP/president of Asia Pacific, charged with supporting the chain’s global geographic and channel growth “while aligning with our strategic plan of fortifying core assets, growing North America and transforming to a global omni-channel competitor …,” said Robert Hanson, CEO.

  • Family Dollar Q2 profit edges up; opening 500 stores this year

    Matthews, N.C. -- Family Dollar Stores reported Wednesday that net income for the quarter ended March 2 edged up to $140.1 million, compared with $136.4 million in the year-ago period.

    Sales increased 17.7% to $2.89 billion from $2.46 billion, and same-store sales rose 2.9%.

  • Family Dollar posts Q2 growth, but challenges remain

    MATTHEWS, N.C. — Family Dollar Stores reported a net sales increase of 17.7% to $2.89 billion for its second quarter. Net income per diluted share for the quarter increased 5.2% to $1.21.

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