Corporate Governance

Sidney, Neb. -- Cabela’s Inc. announced today plans for two new stores, including its first-ever locations in Virginia and Delaware. Construction is expected to begin on the new locations in 2013, with the stores expected to open in 2014.

Cabela’s said it will build an 85,000-sq.-ft. store in The Falls, a new retail development in Bristol, Va., that will accommodate about 1.5 million sq. ft. of retail space.

In Delaware, the company will open a 100,000-sq.-ft. store adjacent to Christiana Mall, in Christiana. 

Arlington, Va. -- The Retail Industry Leaders Association criticized the proposed swipe fee settlement and urged class plaintiffs to reject the proposal. Announced in July, the proposed settlement stems from lawsuits challenging the anticompetitive swipe fee practices of Visa and MasterCard.

Fort Meyers, Fla. -- Chico's FAS Inc.'s second-quarter net income surged a better-than-expected 22% amid increased sales across its brands. The retailer, which has now topped analyst estimates for the last three quarters, raised the low-end of its 2012 revenue outlook, citing its performance for the first half of the year. 

Chico's earned $52.4 million for the period ended July 28, compared with $42.8 million in the same  period last year.

San Francisco -- Williams-Sonoma Inc. said its second-quarter net income rose 10%, fueled by double-digit sales growth at its Pottery Barn and West Elm stores. The results beat analysts’ expectations and the company also raised its profit and sales predictions for the full year.

For the quarter ended July 29, Williams-Sonoma earned $43.4 million, up from $39.3 million in the same period last year.

Foothill Ranch, Calif. -- The Wet Seal said it has hired financial advisors and adopted a poison pill that discourages an investor from acquiring 10% of the company.

The move comes as Clinton Group, an investor with a 3.9% stake in the chain, has been putting pressure on the company to put itself on the block.

“We took this action to ensure the board has sufficient time to consider any option,” said Wet Seal chairman Harold Kahn.

DALLAS — Tuesday Morning's net loss widened to $2 million, or 5 cents per diluted shared for its fourth quarter, from $1.4 million, or 3 cents per diluted share for the same period last year.

ROANOKE, Va. — Advance Auto Parts has announced the promotions of Kurt Schumacher to SVP, national field operations and Joe Gonzalez to area SVP.

Schumacher will lead the company's  nearly 3,500 Advance Auto Parts stores and asset protection. Mr. Schumacher will report to Darren Jackson, president and CEO. Gonzalez will lead store operations in Florida, the Southeast, Puerto Rico, and the Virgin Islands. He will report to Schumacher.

MINNEAPOLIS — Best Buy reported dismal second quarter results Tuesday morning, missing analysts’ estimates by a wide margin one day after the company raised eyebrows by selecting a CEO with no retail experience to engineer a turnaround.

WAYNE, N.J. — Toys"R"Us is taking aggressive steps toward becoming a bigger player in the highly competitive baby products market, by expanding its offerings under the Babies"R"Us brand.

The company has introduced a new infant feeding line and an expanded assortment of bedding and room decor, food, formula, snacks and other essentials and now offers customers more than 1,600 products.

PALATINE, Ill. — Weber-Stephen Products has released its first digital book: "Weber's Time to Grill: Get In. Get Out. Get Grilling," available for download on the iBookstore, Amazon, and Barnes & Noble. Written by New York Times best-selling cookbook author and James Beard Award nominee Jamie Purviance, "Time to Grill," released in a soft-cover format in 2011, has sold more than 260,000 copies to date.