Corporate Governance

Fort Myers, Fla. – Chico’s FAS repurchased approximately 6.7 million shares of its common stock, for approximately $125 million, during the fourth quarter of fiscal 2013, completing all but $55 million of its existing share repurchase authorization. The Chico’s board of directors has cancelled the remainder of its March 2013 share repurchase program and approved a new $300 million share repurchase authorization for the company's common stock.

Walmart dominated the airwaves this holiday season and the investment paid off, according to advertising measurement firm Ace Metrix which compiled a list of the most effective holiday ads.

Walmart topped the list with a heartwarming spot called Christmas Magic which featuring a selfless child donating a toy he desired to the Salvation Army only to discover he was the recipient of the same toy on Christmas Day. Walmart aired more than 40 unique pieces of holiday-themed creative this season, making it the most prolific advertiser of the season, according to Ace Metrix.

Fort Worth, Texas – Pier 1 Imports boosted net income and sales during the third quarter of fiscal 2014 compared to the same period in the prior year, partially aided by strong Thanksgiving weekend performance. Net income totaled $26.8 million, up 13% from $23.7 million.

Total sales for the third quarter were $465.5 million, a 9.6% increase from $424.5 million in the year-ago quarter.

Same-store sales rose 6.9%, primarily attributable to increases in conversion rate and higher average ticket.

Brown Shoe Company-brand Sam Edelman, in partnership with leading apparel manufacturer Kellwood Company, has appointed Leslie Singer as president of Sam Edelman Apparel, a new division within Kellwood.

Singer joins Kellwood from NYDJ, where she lead sales and merchandising for women’s sportswear. Her responsibilities spanned all channels of distribution, including department stores, specialty stores and direct business outlets, such as Zappos and Amazon. Under her leadership, the company saw double-digit growth for more than three years.

Sidney, Neb. – Cabela’s plans to open a new store in Fort Mill, S.C., a suburb of Charlotte, N.C. Construction on the 97,500-sq.-ft. store is scheduled to begin in 2014 and Cabela’s anticipates a spring 2015 opening.

North America’s largest chocolate producer has acquired an 80% ownership interest in the manufacturer of China’s popular Golden Monkey confectionary and snacks brand.

Boston – Massachusetts retail price scanners reportedly operate at a 99.8% accuracy rate. According to the Associated Press, the Massachusetts Division of Standards checked scanners at 98 different stores of 50 retailers across a wide range of verticals and discovered five overcharges out of about 2,800 individual price scans.