Corporate Governance

HERSHEY, Pa. and SAN FRANCISCO — The Hershey Company recently partnered with the Academy of Art University in San Francisco, Calif. to provide students with a hands-on package-design opportunity. Students were asked to create a customized heart box design for Hershey's Pot of Gold chocolates to help give the collection a contemporary, fresh look for the 2013 Valentine's Day season.

Mexico City -- Multiple reports on Wednesday revealed that Wal-Mart Stores’ Mexican arm has been leveled with new allegations concerning tax evasion and money-laundering schemes.

The accusations against Walmex were outlined in a letter by U.S. Rep. Henry Waxman, sent Tuesday to Wal-Mart CEO Michael Duke and suggesting that the company “"may have had compliance issues relating not only to bribery, but also to 'questionable financial behavior' including tax evasion and money laundering in Mexico."

Phoenix -- PetSmart reported Wednesday that net income for the second quarter surged 31% to $79 million, from $61 million in the year-ago period.

Sales advanced 9% to $1.6 billion, and same-store sales grew 7.0%.

“Our performance in the second quarter was due to strength across all three merchandising categories, as well as across services,” said Bob Moran, chairman and CEO.
 

New York -- The Deloitte Consumer Spending Index, released on Wednesday, decreased slightly in July, marking the first decline since February 2012. 

The Index tracks consumer cash flow as an indicator of future consumer spending.

City of Industry, Calif. -- Hot Topic reported Wednesday a loss of $800,000 for the second quarter, tightened from a $6.2 million loss in the prior-year quarter.

Revenue rose 4.6% to $157.8 million compared with $150.9 million, and same-store sales increased 3.9%.
 

Savannah, Ga. -- Despite narrowing its loss in the second quarter from $10 million to $7.9 million this quarter, Citi Trends still missed Wall Street expectations.
 
Revenue edged up 2% to $132.3 million, which also missed analysts’ forecast. Wall Street expected sales of $133.9 million.
 
Same-store sales slipped 4%.
 

New York – A report by Women’s Wear Daily said that shapewear brand Spanx will launch a retail presence, with four store openings in the coming months.

Expanding its online and department-store presence, Spanx will open three standalone branded stores in October, according to WWD, located in Tysons Corner Center in McLean, Va.; Garden State Plaza in Paramus, N.J.; and King of Prussia Mall in Philadelphia.  A fourth store is slated to open at Atlanta’s Hartsfield-Jackson airport.

Chelmsford, Mass. -- Kronos Inc. said Wednesday that Hispanic department store chain Curacao is using a comprehensive workforce management solution from Kronos to control labor costs and improve customer satisfaction.

Curacao’s previous manual and dispersed workforce management solutions have been automated and standardized with the Kronos time and attendance, forecasting and scheduling, and HR applications from Kronos. The new system also integrates seamlessly with the retailer’s enterprise-wide payroll system.

Thousand Oaks, Calif. -- NewMark Merrill Cos. said that Sweet Tooth Dental Center and Dish Restaurant will open at Janss Marketplace, in Thousand Oaks, Calif., bringing the center to 97% occupancy.

Dish Restaurant signed a 10-year lease for a 6,548-sq.-ft. space near Aaron Bros. and RadioShack. The new restaurant at Janss Marketplace, which is the second location for Dish, is slated to open in mid-Sept.

Sweet Tooth Dental Center signed a five-year lease and has opened in a 2,613-sq.-ft. space near Dressbarn and Payless Shoe Source.

Dallas -- SRS Real Estate Partners announced that FreeBirds World Burrito has selected seven new locations slated to open in Central California later this year.
 
The seven sites in California are located in Sacramento, Tracy, Fresno, Clovis, Turlock, and two sites in Modesto, and all were acquired from Qdoba franchisee 4G Management. All locations will be converted to company owned and operated units and range from 2,000 sq. ft. to 4,000 sq. ft.