Corporate Governance

Philadelphia -- Management consulting firm Hay Group reported Tuesday that employee turnover levels in the retail industry are on the rise.

According to a new survey from Hay Group, an improving job market and solid first quarter sales are impacting turnover. Retailers report a median turnover rate of 67% for part-time store workers, a 33% increase over 2011. One in five retailers report that they have experienced more turnover in the first part of 2012.

Mooresville, N.C. -- Lowe’s Cos. said Tuesday it has realigned corporate personnel and responsibilities to focus the home improvement retailer more closely on customer experience strategies.

Lowe’s established a Customer Experience organization, led by chief customer officer Gregory M. Bridgeford, charged with creating customer experiences that will best serve customers and differentiate Lowe’s from its competitors.

Has anyone else noticed that more and more consumers seem to be “cross-shopping” than ever before? I’m talking about those people who shop both the high-end luxury retailers and the discount or even dollar stores. I recently read an article that indicated one-quarter of all Nordstrom shoppers also shop at the Dollar Store. And, I started to ask myself if this trend is here to stay.
 

Ontario -- Ikea said Tuesday that it has begun construction on the expansion of its current Montreal store to what will be its largest store in North America.

Set to be complete summer 2013, the new Ikea Montreal will be 469, 694 sq. ft. and will feature expanded inventory and services such as a 600-seat restaurant and 1,400+ parking spots.

Columbus, Ohio -- DSW Inc. said Tuesday that its newest store, located in the State Street shopping district of downtown Chicago, is slated to open on May 10, bringing the shoe retailer’s total downtown Chicago store count to two and 17 in Chicagoland.

The new two-level store features 25,000 sq. ft. of space.
 

Cary, N.C. -- C-store operator The Pantry said Tuesday that it lost $9.7 million in the second quarter, compared with a loss of $300,000 in the same period last year. Results were hurt by rising gas prices.

Same-store merchandise sales rose 4.8%
 

Oak Brook, Ill. -- McDonald’s Corp. said Tuesday that same-store sales on the global front rose 3.3% in April, led by European results (up 3.5%) but followed closely by the United States. (up 3.3%).

Japan dragged down Asia results (up 1.1%).
 

North Bergen, N.J. -- Vitamin Shoppe reported Tuesday that net income for the quarter ended March 31 rose to $18.3 million, from $11.6 million in the same period last year.

Sales surged 14.4% to $248.1 million, boosted by a strong 9.6% rise in same-store sales. E-commerce sales rose 15.5% in the quarter.

The vitamin retailer said it plans to open 52 new stores in fiscal 2012.
 

Naperville, Ill. -- OfficeMax Inc. reported Tuesday that net income for the quarter ended March 31 slid to $4.9 million, compared with $11.4 million in the year-ago period. Results were hampered by charges related to U.S. store closures.

Total sales edged up 0.5% to $1.9 billion. In the retail segment, sales dipped 2.7% to $912.3 million; same-stores sales fell 2.1%.

SAN FRANCISCO — Shoppers who use their Visa cards when making purchases at discount stores and grocery stores/supermarkets will no longer have to sign for them if they spend less than $50. Beginning in October, discount stores and grocery stores/supermarkets in the U.S. can accept Visa cards for transactions up to $50 without requiring a cardholder signature or PIN, or providing a customer receipt unless requested by the cardholder.