Corporate Governance

MINNEAPOLIS — Target has donated $30,000 in monetary support and product to assist with Colorado wildfire relief efforts. A $17,500 cash donation was distributed among several American Red Cross chapters in Colorado in addition to $5,000 in product donations for essentials such as water and food. A separate donation of $7,500 in gift cards was given to other nonprofit organizations in the affected areas.

The nation’s convenience stores continued to grow last year creating a peculiar blend of competitive challenges and sales opportunities for Sam’s Club.

NEW YORK — The International Licensing Industry Merchandisers' Association has named Maura Regan, SVP, general manager for global consumer products at Sesame Workshop, chairperson of the board.  She had previously served as vice chairperson.

The board also announced the following changes:
 

• Rick Van Brimmer, director trademark and licensing services for The Ohio State University, was elected as LIMA’s vice chairman.  He formerly was a member of LIMA’s board.

NEW YORK — With the Nordstrom name often associated with high fashion, it is surprising that the retailer does not already have a flagship in New York City. In 2018, however, that will all change when the first full-line Nordstrom's store opens in the Columbus Circle area of Manahttan.

The store is being built by Extell Development Company and will occupy 285,000 square feet.

MOORESVILLE, N.C. — Lowe’s has donated $250,000 to the American Red Cross to help with relief efforts associated with the wildfires in Colorado and the flooding in Florida.

In addition to the $250,000 donation, Lowe’s is also launching a social media support program to aid disaster victims. For every Facebook Like and Twitter Retweet received on the Lowe’s disaster-specific posts, Lowe's will donate a pair of work gloves, up to a total value of $50,000, to the American Red Cross to distribute to residents and emergency officials.

New York -- Confirming the rumors that have swirled for the last few days, Seattle-based Nordstrom said Thursday that it has found a site for its full full-line department store in New York City.

The 285,000-sq.-ft. flagship will open along the 57th Street corridor at 225 West 57th – between Broadway and Seventh Avenue – at a site owned by Extell Development Co.

The store is expected to open in 2018.
 

Chicago -- A Thursday report by Bloomberg said that the Sprint-owned pay-as-you-go carrier Virgin Mobile will open 10 retail stores on Friday in Chicago, as part of its plan to leverage iPhone’s expansion into the prepaid wireless space.
 
With the openings, Virgin Mobile will become the second U.S. prepaid service to offer the Apple device, following the iPhone’s debut at Leap Wireless International on June 22.

Mooresville, N.C. -- Lowe’s said Thursday it is donating $250,000 to the American Red Cross as part of its efforts to provide relief from the wildfires in Colorado and the flooding damage from Tropical Storm Debby in Florida. The home-improvement retailer has already been on the ground assisting local communities affected by both disasters.

Abilene, Kan. -- Duckwall-Alco said Thursday it is officially changing its name to Alco Stores, Inc. An amendment at Wednesday’s annual shareholder meeting was approved. The company’s ticker symbol on NASDAQ is now “ALCS.”

The 111-year-old chain has 216 locations in 23 states, mostly in small-town environments. Plans are on tap to open five new stores in fiscal 2013 and eight underperforming stores are slated to be closed.

Matthews, N.C. -- Family Dollar Stores Inc. reported Thursday that profit for the quarter ended May 26 rose 12.1% to $124.5 million, compared with $111.1 million in the year-ago period.

Sales increased 9.6% to $2.36 billion, just missing Wall Street’s forecasts of $2.37 billion in sales. Same-store sales climbed 5%.