Corporate Governance

Gouverneur, N.Y. -- Regional player Kinney Drugs has snapped up four independent pharmacies located in central New York and Vermont, bringing its total store count to 94.

Financial terms of the deal were not disclosed.


Don’t let the grocery sector shake-ups fool you.

While there are individual failures, the category as a whole continues to find favor among developers that place a premium on having a traffic magnet in their shopping centers.

Last June, two organizations — Retail Industry Leaders Association and International Council of Shopping Centers — co-sponsored a sustainability initiative that ultimately would set the bar for landlord/tenant partnerships.

The last 14 months haven’t been without bumps. Forging positive, mutually beneficial programs that involve cooperation from shopping center owners and their retail tenants has long been one of this industry’s greatest — and most frustrating — challenges.

Winter is fast approaching — is your facility ready? Statistically speaking nearly 80% of all slip and falls are due to snow and ice, and they occur mainly in parking lots and sidewalks. As an expert witness and consultant in the field of risk and liability due to snow and ice, I see incidences that could have been avoided had the facility performed a pre-season property assessment.

Michaels Stores is taking its energy conservation efforts to the next level. The arts and crafts retailer has rolled out several advanced extensions to its energy management system. The extensions are expected to bring Michaels’ total EMS-related savings to more than 30%.

All eyes are on J.C. Penney Co. as it rolls out the first wave of its branded shops to nearly 700 stores nationwide. 

The Annual State of the Industry Report is the centerpiece of this issue of Chain Store Age, and it’s a great read. It’s also very timely.

IRVING, Texas — Michaels Stores has recognized 12 vendor partners for their contributions to Michaels' success over the past year.

The addition of new stores and a 3.8% same-store sales increase enabled Dick’s Sporting Goods to report record second-quarter results, so long as a botched investment in a leading U.K retailer is excluded.

Sale for the quarter ended July 28 increased 10% to $1.4 billion due primarily to a 3.8% comps increase combined with the addition of four new stores. The 3.8% increase consisted of a 2.9% increase at Dick’s Sporting Goods stores, a 4.4% increase at Dick’s Golf Galaxy stores and a 34.6% increase in the company’s e-commerce business.

NEW YORK — Saks Inc. recorded a net loss of $12.3 million, or 8 cents per diluted share, for its second quarter. For the prior year second quarter, the company recorded a net loss of $8.4 million, or 5 cents per diluted share.