News

H-E-B to open convenience store format
Citing a Virtual Builders Exchange report, the San Antonio Business Journal last week reported H-E-B would be opening a pureplay convenience store operation with plans to construct a 7,500-sq.-ft. convenience and fuel center.
Staples, Office Depot extend merger agreement
Staples is giving itself three more months before calling off its proposed $6.3 billion acquisition of Office Depot, giving the companies time to fight an antitrust lawsuit with the Federal Trade Commission.

Walmart to hike pay of most U.S. workers; adding free short-term disability

The largest single-day, private sector pay increase ever will take effect Feb. 20, when more than 1.2 million Walmart U.S. and Sam’s Club associates receive a pay increase.

The salary hike is the second phase of the company’s two-year, $2.7 billion investment in workers. But it is broader than the original plan, which was announced last fall.
2016 Retail IPO Outlook

When providing the BDO retail IPO outlook for 2015 at the beginning of this year, we asked: Will consumer businesses face a potential Alibaba hangover in 2015?
J.C. Penney taps former Home Depot vet to head up stores

J.C. Penney Company appointed Joe McFarland as executive VP of stores, effective immediately, succeeding Tony Bartlett.

McFarland, similar to J.C. Penney CEO Marvin Ellison, is a Home Depot veteran. He worked at the home improvement giant for over 20 years, most recently as president of its Northern and Western Divisions, where he was responsible for the sales and operations of up to 800 stores in 24 states. McFarland began his career at the chain as a sales associate.
Women’s apparel retailer files motion for sale of assets

Joyce Leslie on Monday announced that it filed a motion on January 14th for court approval to set bid procedures and an auction date for a sale of most of its assets.

The young women’s fashion retailer had previously announced that it had filed a voluntary petition under Chapter 11 on Jan. 9.
Lackluster holiday sales prompt Tiffany to cut outlook, staff

Tiffany & Co. says weak tourist spending and a strong dollar hurt its sales results for the two-month holiday period.

The retailer said worldwide net sales declined 3% (due to declines in the Americas and Asia-Pacific offsetting growth in Japan and Europe) and same store sales declined 5%. There were no noteworthy differences in performance among jewelry categories, the company said. Reported in U.S. dollars, worldwide net sales of $961 million were 6% lower than the prior year.
Dillard's cookbook nets more than $850K for RMHC

Dillard’s Inc. is giving more than $850,000 to local Chapters of Ronald McDonald House Charities after selling its exclusive Southern Living Christmas Cookbook.

For the eighth time, Dillard’s offered a special custom edition of the Southern Living Christmas Cookbook to benefit RMHC. This exclusive, 288-page hardbound cookbook is filled with fabulous holiday recipes, color photos, menus, decorating tips and entertaining ideas.
Ascena Retail Group appoints a new SVP

Ascena Retail Group has a new senior vice president to lead the company through its next phase of growth.

The company announced that Duane Holloway has been named Senior Vice President and General Counsel, effective immediately. Holloway will serve on the company’s leadership team and report to David Jaffe, President and CEO. He will be responsible for overseeing all legal matters for the Company.
Report: Walmart merging tech teams to create new group

Wal-Mart Stores’ online push continues.

The retailer will merge its Bentonville-based information systems division with its Silicon Valley-based technology unit, zWalmartLabs, next month, Reuters reported.

The merger will create a new group called Walmart Technology.

The chain’s CIO, Karenann Terrell, and chief technical officer, Jeremy King, will continue to lead the information systems group and zWalmartLabs, respectively. Both will report to Neil Ashe, head of the chain e-commerce division, the report said.