News

New York -- A former Walgreens executive is heading to Lululemon Athletica. 

Lululemon has named Miguel Almeida as executive VP-digital.

Calgary – When the concept of things changing at “Internet speed” is discussed, often overlooked is the fact that the Internet itself changes at Internet speed. E-commerce websites must offer functionality and overall shopping experience on par with the latest online consumer expectations. Canadian specialty outdoor retailer Wholesale Sports Outdoor Outfitters, which operates 13 stores in western Canada as well as a website, has had to face this issue.

Port Washington, Wis. -- Allen Edmonds, the 93-year-old premium men’s shoe brand, is embracing the digital age.

The company is offering its first-ever “Factory Seconds” flash sale on its web site. The seven-day-long sale starts June 26 and ends on July 2.

Sears's new “Connected Solutions” flagship is located at The Shops at Tanforan, a shopping center in San Bruno, California. The 4,000-sq.-ft. store is designed to simplify the way people shop for their connected home.
 
Designed as rooms of a home, the store features a living room, kitchen, nursery, workout room, garage and outdoor area where consumers can experience first-hand the benefits of smart technology.   It is organized in four categories: Simply Entertaining; Simply Fit; Simply Automated; and Simply Secure.
 

Grapevine, Texas – GameStop Corp. is giving gamers a chance to share stories of how video games have enhanced their personal lives via social media in a five-week contest running through July 27. The contest, called #SummerAtGameStop, encompasses five themed weeks of Never Met, Romance, Reunited, Game Night, and Rematch.

Cincinnati – The Kroger Co. is responding to explosive financial performance with a two-for-one stock split, dividend increase and share buyback program. Kroger has delivered double-digit compound growth in its dividend since it was reinstated in 2006, and expects further growth.

Camp Hill, Pa. – Shareholders of Rite Aid Corp. have voted to tighten the reins of the “golden parachute” payment CEO John Standley will receive if the company is acquired and he loses his job as a result. Standley had previously been slated to receive $42 million in such an event, including $31.6 million in vested equity.

Montreal - Metro Inc. intends to purchase up to 450,000 shares of its stock from in a private transaction with an “arm’s-length” third-party seller on or before Sept. 9, 2015. The price will be privately negotiated and a t a discount from the prevailing market price.

These purchases will form part of Metro's 17.1 million share repurchase program announced in September 2010 and renewed in September 2014.
 

Indianapolis – The Finish Line Inc. finished ahead of Wall Street expectations for profit and revenue in the first quarter of fiscal 2016. Net income rose 29% to $13.73 million from $10.65 million in the prior year period.

A higher gross profit, as well as significantly lower impairment and store closing charges, drove the increase in net income. Net sales grew 9% to $443.39 million from $406.53 million. Same-store sales at the Finish Line banner increased 5.5%.

Washington, D.C. – Americans are feeling patriotic as July 4 approaches and putting their wallets where their feelings are. According to the National Retail Federation (NRF) 2015 Independence Day Survey conducted by Prosper Insights & Analytics, more than 156 million consumers, or 64% of those celebrating, are planning to take part in the July 4 holiday by attending a cookout, picnic or barbecue, spending an average of $71.23 per household, up 4% from $68.16 in 2014.