Corporate Governance

As recent events demonstrate, the magnetic stripe-based payment cards used by the vast majority of U.S. retailers, banks, payment processors and card issuers are vulnerable to fraud. The Europay, MasterCard, Visa (EMV) standard used by the rest of the developed world stores sensitive customer data on an encrypted chip, rather than on a magnetic stripe, making payment card fraud much more difficult. Erik Vlugt, VP product marketing for electronic payment solutions vendor VeriFone Inc., recently shared insight on the advantages EMV can offer U.S.

Ahold USA has appointed Tom Lenkevich as president of the company’s Giant/Martin's division, effective March 4, reporting to Bhavdeep Singh, EVP operations, Ahold USA.  

New York -- As technology transforms multichannel retail into hyper-channel, “always-on” retailing, chains must emotionally connect with consumers as never before, according to Joseph Bona. Bona, president of branded environments for New York City-based brand agency/retail design firm CBX, is one of the featured speakers at Chain Store Age’s upcoming 50th annual SPECS conference,  March 9 -12, Grapevine, Texas.

Fort Worth, Texas -- RadioShack Corp. said it plans to close up to 1,100 stores, approximately one-fifth of its total, and also announced a disappointing holiday season and a wider quarterly loss. The shutterings will leave the chain, whose turnaround appears to be still far off, with over 4,000 locations, including more than 900 dealer franchise locations.

By Alan Gettelman and Richard Duncan

It’s a fact: Safety awareness and accessibility compliance translates into ease of use for all customers. The Americans with Disability Act Accessibility Standards (ADAS) and ASTM (American Society of Testing and Materials) requirements not only make store spaces accessible, but should also help owners/operators avoid complaints and possible penalties.

Here are some key points:

Cape Town, South Africa -- South African retailer Woolworths has implemented MetricStream's Sustainability Performance Management Solution to capture and measure sustainability metrics and indicators around energy, water, soil, and waste management. The solution will also help Woolworths monitor supplier compliance with sustainability guidelines, and optimize the performance of the company's sustainability projects and initiatives.

Village Super Market, which operates a chain of 29 supermarkets under the ShopRite name in New Jersey, Maryland and eastern Pennsylvania, saw net income fall 69% during the second quarter, compared to the same period in the prior year, driven in part by flat same-store sales.

Remember 2011 and 2012? Back then, the forecasters were saying that the economy would probably be sluggish through 2013. After that, starting in 2014, growth would return.