Corporate Governance

New York -- Tommy Bahama Group Inc. said Thursday its first Tommy Bahama global flagship store will open on Nov. 17 at 551 Fifth Avenue in Manhattan.

Columbus, Ohio -- Limited Brands Inc. reported Thursday that net income for the quarter ended Oct. 27 dropped to $73.4 million from $94.3 million in the same quarter last year. Results still managed to beat Wall Street expectations.

Limited, which also owns Victoria’s Secret and Bath & Body Works, saw sales slip 5.7% to $2.05 billion from $2.17 billion, but results matched analysts’ forecasts. Same-store sales climbed 5%.

Pleasanton, Calif. -- Ross Stores Inc. reported Thursday that net income rose 10.8% to $159.5 million in the third quarter, compared with $144 million a year earlier.

Revenue rose 10.6% to $2.26 billion, missing Wall Street’s expected $2.34 billion in revenue. Same-store sales climbed 5%.

The retailer has reaffirmed its guidance for the fourth quarter.

City of Industry, Calif. -- Hot Topic Inc. reported Wednesday that profit for the third quarter jumped 38% to $4.3 million, from $3.1 million in the year-ago quarter.

Revenue edged up 2% to $179.4 million from $175.8 million, missing Wall Street’s expected $182.9 million in revenue.

Same-store sales rose a slight 0.2%.

Kearney, Neb. -- The Buckle reported Thursday that net income for the quarter ended Oct. 27 rose 9% to $41.9 million, boosted by online strength and higher same-store sales.

Overall revenue rose 4% to $284.1 million, beating Wall Street’s predicted $282.8 million. Same-store sales climbed 2.4%.

Bentonville, Ark. -- Wal-Mart Stores Inc. reported Thursday net income of $3.64 billion for the quarter ended Oct. 31, up from $3.34 billion in the year-ago period.

Sales rose 3.4% to $113.20 billion, as U.S. sales beat internal expectations but overall missed Wall Street’s expected $114.96 in revenue.

Wal-Mart U.S. saw same-store sales rise 1.5%, marking the fifth consecutive quarter of same-store sales growth after nine straight quarterly declines. At Sam’s Club, same-store sales rose 2.7%, excluding fuel.

Minneapolis -- Target Corp. reported Thursday net income of $637 million for the third quarter, compared with $555 million in the prior-year period and beating Wall Street expectations.
 
The retailer previously reported that sales rose 3.4% to $16.60 billion in the quarter, and same-store sales climbed 2.9%.

Target is forecasting a fourth-quarter earnings range that at the high-end tops estimates.

Seattle -- Starbucks Coffee Co. announced Wednesday it will acquire specialty tea chain Teavana Holdings for $620 million in a move to gain traction in the $40 billion global tea industry.

According to Starbucks chairman, president and CEO Howard Schultz, the coffee company plans to grow and expand Teavana’s 300 mall-based stores as well as add a neighborhood store concept to accelerate Teavana’s domestic and global footprint.

Vince Bove was named SVP and chief marketing officer at Reflect, a Dallas-based provider of software for digital signage networks at some of the nation’s leading retailers.

In his role as SVP, Bove will be responsible for business development and sales in the central and western United States.　In his capacity as chief marketing officer, he will assist Reflect clients with insightful shopper engagement strategies for their brand at the point-of-sale, and help them utilize the capabilities of the Reflect product line.

Jonathan Dall has joined sourcing solutions firm LogicSource as chief sales officer, a new position for the Norwalk, CT., based company owned by Bain Capital.