Corporate Governance

Sidney, Neb. -- Cabela’s Inc. continues to expand East with plans to open its stores in the states of New York and Massachusetts.

The hunting, fishing, camping and related outdoor merchandise retailer will open an 88,000-sq.-ft. store in the Buffalo suburb of Cheektowaga, N.Y., in fall 2014, and a similarly sized one in the Boston suburb of Berlin, in spring 2015. The exteriors of both locations will reflect Cabela’s signature log construction, stonework, wood siding, metal roofing and a large glass storefront.

FORT WAYNE, Ind. — On the heels of reporting net revenues of $123 million for the first quarter ended May 4 — an increase of 5% from $117.2 million in the first quarter of the year prior — Vera Bradley has announced that CEO Michael C. Ray plans to retire from the company.

Ray informed the company's board of directors that he will remain CEO through the transition period and intends to continue to serve as a director. The board has formed a search committee and retained Spencer Stuart to assist in the search for Ray's successor. 

New York -- Golfsmith International will open a two-story, 15,000-sq.-ft. store on Fifth Avenue, near 38th Street, in Manhattan.
   
The store, opening on Friday, June 7, features three state-of-the-art club fitting studios with simulators that enable customers to test drive the latest equipment with the same technology used to fit tour pros. The store also has an indoor putting green and technology bar with GPS units, range finders and a variety of high-tech gadgets.

NEW YORK — Golfsmith International plans to open its first specialty golf store on New York City’s Fifth Avenue. By positioning its interactive store in the heart of the Big Apple, Golfsmith will reach both New York area golfers as well as tourists visiting the city from around the world.

To mark the store opening, the golf retailer has scheduled a number of activities from Friday, June 7 through Sunday, June 9, including $50,000 in cash giveaways, golf clinics from instructor Hank Haney and more than $7,500 in prizes.

Deerfield, Ill. -- Walgreens on Wednesday posted third-quarter sales of $18.3 billion, up 3.3%.

Same-store sales were up 1.3%, with front-end comparable store sales up by 0.3% and pharmacy comp sales up 2%. Prescriptions filled were up 7% for the quarter.

Walgreens reported that more than 72 million Walgreens faithful have signed on for the company's Balance Rewards loyalty program through May.

DEERFIELD, Ill. — Walgreens reported sales of $18.3 billion for the third quarter, up 3.3%. Same-store sales increased 1.3%, with front-end comparable store sales up by 0.3% and pharmacy comp sales up 2%. Prescriptions filled were up 7% for the quarter.

Sales of Walgreens' shares were up $1 to $49.03 in early-morning trading.

Walgreens reported that more than 72 million Walgreens faithful have signed on for the company's Balance Rewards loyalty program through May. 

Arlington, Texas -- Papa Murphy’s has leased a 1,340-sq.-ft. space at Lamar Crossing Shopping Center in Arlington, Texas, according to WindStar Properties.

The Take ‘N’ Bake pizza shop, which prepares fresh pizzas for customers to bake at home, has 1,350 shops in 38 states and ranks as the fifth largest pizza company in the United States.

Hampstead, Md. -- JoS. A. Bank Clothiers’ net income for the first quarter of fiscal year 2013 fell 45% to $8.1 million, down from $14.8 million for the first quarter of fiscal year 2012.

Total sales for the first quarter decreased 2.6% to $196.1 million from $201.4 million in year-ago period.