Corporate Governance

Sidney, Neb. -- Cabela’s Inc. announced Thursday that its has named Sean Baker president of World’s Foremost Bank and the division’s next CEO, effective Jan. 1.

The move is part of a planned succession strategy that will put Baker in place as current CEO Joseph Friebe takes his previously announced retirement.

Baker began his career with Cabela’s as a financial analyst in 1997 and most recently served as senior VP business development, for World’s Foremost Bank.

Conshohocken, Pa. -- Ikea said Thursday it is submitting plans for a Miami-Dade store in the City of Sweetwater, Fla., as the second South Florida Ikea store and fourth in the state. 

According to the Swedish home furnishings retailer, construction could launch as early as spring 2013 on the new store, with an opening tentatively slated for fall 2014.

Waterloo, Ontario -- Axonify Inc. said Thursday that Toys ”R” Us Canada has selected Axonify’s next generation eLearning platform to deliver training content to its employees.

Axonify said it will assist Toys “R” Us Canada in integrating learning into the daily activities of its more than 5,000 associates, while providing a personalized experience that addresses a variety of generations, knowledge levels and learning styles.

Fort Worth, Texas -- Pier 1 Imports said Thursday it has launched a fully redesigned website, Pier1.com, with a lineup of new features, including “Pier 1 To-You” allowing users to buy products online and have them shipped to any location in the continental United States.

Additional options continue to include “Pier 1 To-Go,” which launched in June 2011 and allows customers to pay for selected product offerings online and pick them up in-store with no shipping charges.

Columbus, Ohio -- Big Lots reported Thursday that net income for the quarter ended July 28 slipped to $22.1 million, from $35.7 million in the year-ago period.

Sales in the United States edged up 1.7% to $1.18 billion, from $1.16 billion, and domestic same-store sales decreased 1.9% for the quarter.

In Canada, the company recorded a loss for the quarter of $3.3 million, widened from its loss of $1.2 million last year.

Minneapolis -- A Thursday report by Bloomberg, citing unnamed sources, said that Best Buy Co. has rekindled its talks with co-founder Richard Schulze about an agreement that would allow Schulze to launch due-diligence efforts toward his proposed acquisition of the company.

Best Buy reportedly reached out to Schulze shortly after announcing quarterly earnings on Aug. 21 that missed Wall Street estimates, according to one of the unidentified sources, who also said that both parties could reach an agreement later this week.

New York - Amazon.com, Trader Joe’s and Costco Wholesale Corp. came out on top with consumers in a survey by global strategy firm OC&C Strategy Consultants, Boston. Rounding out the top five were Zappos and iTunes.

By James H. Donell, CPM  CCIM, [email protected]

When a commercial real estate property goes into foreclosure, the effects can be damaging for all parties involved – not only for the owner of the property who has defaulted, but also the lender and any additional creditors who may have a lien on the property.

SAN FRANCISCO — Williams-Sonoma is betting it can replicate its highly successful formula internationally, with the opening of new stores in Sydney, Australia.

PITTSBURGH — American Eagle Outfitters' income from continuing operations increased 62% to 21 cents per diluted share for the second quarter, compared with 13 cents per diluted share for the comparable quarter last year. Net income for the second quarter, which includes a loss from discontinued operations, was 9 cents per diluted share, compared with 10 cents per diluted share last year.