Corporate Governance

Vancouver, B.C. – Lululemon Athletica Inc. reported a slight drop in net income during second quarter 2013.

Net income dipped about 1% to $56.45 million, from $57.7 million.

Net revenue grew 22% to $344.5 million from $282.6 million, and same-store sales increased 8%.

Bolinbrook, Ill. -- Ulta Beauty reported that its second quarter net income rose 28.3% to $44.9 million, compared with $35 million in the year-ago period.

The company posted a 24.8% boost in second quarter net sales as CEO Mary Dillon outlined some of the key priorities for her first 100 days at the helm of the beauty retailer. Dillon, a former PepsiCo executive, joined the company as CEO on July 1. She succeeded Chuck Rubin, who left the company to become CEO at Michaels Stores.

Vornado Realty Trust chairman and CEO Steven Roth has resigned from J.C. Penney’s board of directors, according to a Reuters report. 

The article went on to say that Vornado, which owns office buildings and retail properties in New York and Washington, took a 9.9% stake in Penney at the same time that Bill Ackman's Pershing Square Capital Management bought a 16.5% stake in 2010 to push for big changes at the company.

New York – David Yurman opens a new boutique at The Somerset Collection in Troy, Mich., today. Architectural firm Gabellini Sheppard Associates designed the 1,506-sq.-ft. location.

"As an American brand, we're proud to make a home for ourselves here in the Detroit Metro area." says David Yurman president Carol Pennelli. "Our partnership with Somerset Collection allows us to provide the luxury retail experience that is signature to David Yurman. We're thrilled to be in such extraordinary company."

As the winter season approaches, Burlington Coat Factory experienced overall sales growth that led to a comparative store sales increase of 7.8% for the second quarter ended Aug. 3.

Total net sales increased 11.5% to $963.7 million for the months quarter compared with last year.

“We are proud of our second quarter results including 11.5% overall sales growth and, most important, our 7.8% comparative store sales increase. I would like to thank our store and corporate teams for contributing to these results,” said Tom Kingsbury, president and CEO. 

Washington, D.C. - The American people overwhelmingly oppose new legislation that lets states force tax collection obligations on Internet purchases made from businesses outside their borders.

CVS unveiled the details of a company-wide information and outreach program to help customers navigate their insurance options under the new healthcare law during a store visit in Orlando with U.S. Health and Human Services Secretary Kathleen Sebelius.

The program includes retail events and brochure displays at more than 7,500 CVS/pharmacy stores and 650 MinuteClinic locations. Information is also available online at cvs.com/insurance.

Monrovia, Calif. – Trader Joe’s will reportedly stop offering health benefits to part-time employees next year.

According to Bloomberg, employees who work less than 30 hours per week will no longer be eligible for corporate health benefits as of Jan. 1, 2014. That date is when the U.S, Affordable Care Act mandates employers start offering all full-time workers affordable coverage.