Corporate Governance

New York -- Helped by hot weather and clearance sales, many retailers reported solid results in July, a month that can be a tepid lead-up to the back-to-school shopping season.

Some of the strongest showings in the month were in the department store category, as those reporting all showed July gains.

Macy’s led the pack with a 4.1% same-store sales rise. Total sales increased 5.1% to $1.7 billion over the four-week period.

Deerfield, Ill. -- Walgreens and Alliance Boots on Thursday announced the completion of Walgreens initial investment in the strategic partnership following receipt of all required regulatory approvals.

The Walgreens investment consists of approximately $4 billion in cash and 83.4 million shares of Walgreens common stock in exchange for a 45% equity stake in Alliance Boots. Walgreens has the option to proceed to a full combination in approximately three years’ time by acquiring the remaining 55% of Alliance Boots.

Indianapolis -- Hhgregg reported Thursday a loss of $5.7 million for the quarter ended June 30, compared with a loss of $0.8 million in the year-ago period. The electronics and appliances retailer cited higher expenses coupled with same-store sales declines for the poor performance.

Net sales increased 13.5% to $489.9 million from $431.5 million, and same-store sales decreased 5.1%.

Jacksonville, Fla. -- Body Central Corp., which operates 258 stores under the Body Shop and Body Central banners, reported Thursday that net income for the second quarter dropped to $3.4 million, from $5.3 million in the year-ago period.

Revenues climbed 6.3% to $79.4 million, and same-store sales decreased 7.6%.

The company opened 15 new stores and closed one during the second quarter.
 

Lakewood, Colo. -- Indianapolis-based Simon Property Group said that Ann Taylor Loft will open a store this fall at outlet and value shopping destination Colorado Mills, located in the Denver suburb of Lakewood.

Loft will be located near Saks Fifth Avenue Off 5th, Ann Taylor Factory Outlet and Banana Republic Factory Store.
 

Newark, Calif. -- NewPark Mall in Newark, Calif., announced the upcoming addition of two new food court eateries: Taqueria La Tita and Crepe Bar are slated to open in August. Taqueria La Tita will open in 613 sq. ft. and La Crepe will measure 666 sq. ft.

NewPark Mall is anchored by Macy's, Sears, J.C. Penney and Burlington Coat Factory.
 

New York -- Prudential Douglas Elliman's Retail Group said that Italian accessories retailer Mariana Antinori will open a luxury store – the brand’s first in New York -- at 1242 Madison Avenue, between 89th and 90th Streets.

Nearby are Jacadi, Rachel Riley, Baby Cottons and Brooks Brothers, as well as Armani Jr., Robert Marc, Christopher Fischer Cashmere, Malia Mills and Pink Chicken 'Tween.
 

Los Angeles -- CBRE Group announced that Mike Gerard has been named president of the company’s U.S. Central Division, a geographic region with more than 25 offices in nine states.

Gerard has served as chief learning officer since early 2011, with responsibility for CBRE University, and other learning and development programs. He will continue to provide executive oversight for CBRE University. Andrea Lipton, corporate director of learning & development, has been promoted to VP and will run the university’s day-to-day operations.

Armonk, N.Y. -- Hypermarket chain Real, part of Metro Group, worked with IBM to launch a new electronic coupon system throughout its 320 German stores. This first-of-a-kind digital coupon system, developed with IBM Research scientists, enables consumers to use their mobile phones to find and redeem e-coupons as they shop in stores. It delivers a convenient and personalized service to shoppers, even if they left their paper coupons at home.

Naperville, Ill. -- Office Max Inc. reported Thursday net income of $10.7 million for the second quarter, besting Wall Street predictions and representing a strong turnaround from last year’s $3 million loss stemming from store closures and severance expenses.

Revenue for the quarter slipped 2.7% to $1.6 billion, missing analysts’ forecasted $1.64 billion in revenue. The office supply retailer said it will reinstate its quarterly common stock dividend, which it suspended more than three years ago.