Corporate Governance

Canton, Mass. -- Destination XL Group reported Friday that net income for the quarter ended Feb. 2 dropped to $4.2 million from $33.5 million in the year-ago period, as the company continued its transition from Casual Male to Destination XL.

Fourth-quarter revenue increased to $114.9 million, compared with $111.1 million last year, and same-store sales edged up 0.5%. By brand, DXL stores saw a same-store sales rise of 15% in the quarter, while Casual Male dipped 2.3%.

Minneapolis -- A Friday report by Bloomberg said that coffee purveyor Caribou Coffee has lost interest in opening shops inside J.C. Penney Co. stores.

The revelation comes just six months after Penney CEO Ron Johnson announced Caribou Coffee as a potential partner.

Caribou CEO Mike Tattersfield said in a Friday emailed statement that the company “does not have plans to move forward with a partnership at this time.” Tattersfield has not elaborated on the reasons for the change of heart.

New York -- Costco Wholesale Corp. will expand its Issaquah, Wash., headquarters, according to published reports on Friday.

The Seattle Daily Journal of Commerce reported Friday that Issaquah's director of economic development, Keith Niven, said the club retailer would expand the headquarters to take up as much as 1.5 million sq. ft.

The Tacoma, Wash., News Tribune reported that the company currently takes up three buildings that are full.

St. Louis -- Brown Shoe Co. reported Friday that net income of the fourth quarter was $4 million, compared with a loss of $8.2 million in the year-ago period.

Sales rose to $640.2 million from $628.9 million.

For full year 2012, profit edged up to $27.5 million from $24.6 million. Sales increased to $2.59 billion from $2.58 billion.

Savannah, Ga. -- Citi Trends reported Friday a fourth quarter loss of $704,000, narrowed from a $5.3 million loss in the same period last year.

Revenue slipped 2% to $175.7 million, meeting Wall Street forecasts. Same-store sales plummeted 11.8%.

CHM has broken ground on University Commons, billed as the first urban, vertical retail complex in Knoxville, Tenn.

The multi-story urban shopping and dining development, located on the former Fulton Bellows site adjacent to the University of Tennessee, will cover 12+ acres, with 211,000 sq. ft. of retail space and parking.  Anchored by Walmart and Publix, University Commons will add another 40,000 sq. ft. of smaller shop space once the project is completed.

In open-air, context often trumps content

Expect no prophesying about the death of enclosed malls. The format is alive and well, and there are countless examples of thriving under-roof shopping centers around the country.

Still, there is no question that the open-air format has stolen mall thunder.

Jim Crowcroft, VP market development, TCP Inc., Aurora, Ohio, [email protected].

With 'intelligent design' emerging as yet another buzz phrase in an industry full of them, Chain Store Age talked with Jim Crowcroft about how TCP incorporates smart design into its lighting products and projects, as well as what hot lighting trends he is seeing for 2013.

What do you see as the main elements of intelligent lighting design?

Conviction records must be weighed with caution under new EEOC guidelines

The use of criminal background checks by employers is being closely watched.

High-traction flooring materials are key in reducing risk

Slip-and-fall accidents in public places, including retail stores, are the leading cause of premise liability injuries and rank among facilities managers' top management issues. And with the elderly particularly vulnerable to falls, the size and scope of the problem is likely to grow in the near future given the aging of the baby boomers.