Corporate Governance

Camp Hill, Pa. – The Rite Aid board of directors has elected Kevin E. Lofton, president and CEO of Catholic Health Initiatives (CHI), to the Rite Aid board. CHI is a national health system, based in Englewood, Colo.

Dillard’s reported moderate growth in net income and sales during the third quarter of fiscal 2013. Compared to the same period a year earlier, net income increased 5% to $50.9 million from $48.5 million, while net sales climbed about 1% to $1.51 billion from $1.49 billion.

New York – HSN is launching an integrated marketing partnership with Spanish-language media company Univision Communications that will offer a fully integrated experience for U.S. Hispanic consumers.

Kohl’s issued a grim fourth quarter sales forecast after third quarter same store sales fell 1.6% and profits fell short of expectations.

Toronto -- To help increase profitability, Hudson’s Bay Company (HBC) launched a promotion optimization initiative in Canada to improve the ROI of its flyers, or newspaper ads. HBC worked with Saferock to develop the solution, which uses sophisticated analytics to analyze millions of records each week.

By Stephen Springham, senior retail analyst at Planet Retail

Three quarters of results and a hat-trick of disappointments — Walmart U.S. again failed to achieve its guidance of flat comps in Q3, reporting a decline of 0.3%. This was not entirely unexpected as an already fragile consumer environment has not been helped by the government shutdown.

Boston -- Gordon Brothers Group, a global advisory, restructuring and investment firm specializing in the retail, consumer products, industrial and real estate sectors announced that Robert E. Grosskopf and Richard P. Edwards have been appointed co-presidents of the retail division. They will jointly assume responsibility for the division's growth strategy while overseeing all client engagements and daily operations.

Cincinnati — Saks Fifth Avenue has signed a letter of intent to relocate its downtown Cincinnati store to The Kenwood Collection, which Phillips Edison & Co. is transforming from a regional destination to a super-regional destination that will draw shoppers from three states.

According to the letter of intent, Saks will lease 80,000 sq. ft. of retail space over two levels of a building that fronts I-71. Plans call for the store to open in the spring of 2016.