Corporate Governance

Assessing the strength of the American consumer has become something of a national past time, especially during an election year. And as conflicting data points paint a picture of a lumpy economic recovery both presidential candidates can find something in retailers’ sales results that lend credence to their arguments.

Most Americans are locked in a struggle to make ends meet, which is why Walmart’s message of saving people money so they can live better is resonating stronger than ever.

Pittsburgh -- GNC Holdings reported Thursday that net income for the quarter ended June 30 nearly doubled to $66.7 million, compared with $36 million for second quarter 2011.

Consolidated revenue increased 19.4% to $619.1 million, and same-store sales increased 12.9% in domestic company-owned stores, representing the company's 28th consecutive quarter of positive same store sales growth. 
 

New York -- Fifth and Pacific Cos. reported Thursday that it narrowed its loss in the second quarter to $52.1 million, compared with a loss of $89.9 million in the same period last year.  Results, which beat Wall Street expectations, were boosted by strong sales from the Kate Spade and Lucky Brand banners.

The company that was formerly known as Liz Claiborne Inc. saw net sales fall 6.5% to $336.9 million in the quarter, which still beat analysts’ forecasted $330.8 million.

Brentwood, Tenn. -- Farm and ranch store chain Tractor Supply Co. reported Wednesday that net income for the second quarter rose 17% to $106.6 million, compared with $91.2 million in the same period last year.

Sales increased 9.6% to $1.29 billion, just missing Wall Street’s expected $1.30 billion in sales.

Green Bay, Wis. -- Shopko said Thursday that it has named Nancy Altman as senior VP, chief marketing officer for the general merchandise chain.

Altman, who was previously VP marketing for Ulta, joins Shopko as it is in the process of converting more than 160 Pamida stores to its new Shopko Hometown format as part of a merger with Pamida that was finalized earlier this year. 
 

Plano, Texas -- J.C. Penney said Thursday it is once again tweaking its pricing structure, changing course just six months after introducing a three-tiered everyday pricing strategy.

River Forest, Ill. -- Oakbrook Terrace, Ill.-based Mid-America Asset Management said that DSW has signed a lease for 28,000 sq. ft. at River Forest Town Center in Chicago’s west suburbs.

The shoe retailer is taking space vacated by Linens ‘n Things and plans to open in fall 2012 as a new anchor joining The Children’s Place, The Loft, Chico’s, Whole Foods, Panera Bread, Petco and Walgreens.   
 

Melville, N.Y. -- Commercial real estate consulting, advisory and investment group A&G Realty Partners announced that Peter Lynch and Andrew Margolick have joined the firm as partners.

Lynch joins A&G from DJM Realty, where he was a principal and senior managing director, and Margolick was president of his own firm, ARM Consulting, as well as a former VP at Hilco Real Estate.

Wilmington, N.C. -- Madison Marquette Retail Services, which leases and manages Independence Mall – in Wilmington, N.C. – on behalf of owner Centro Properties Group, said that Gymboree Corp.’s Crazy 8 brand will open a new store at the mall this fall.

The 2,465-sq.-ft. store will join Aeropostale, The Children’s Place, Gymboree and Justice in catering to Independence Mall’s teen, tween and children’s clothing shoppers.