Consumer Affairs & Relations

WASHINGTON — The National Retail Federation announced that it has sent a letter supporting Section 18 of H.R. 1249, the America Invents Act from NRF SVP government relations David French to House Judiciary Committee Chairman Lamar Smith, R-Texas, Ranking Member John Conyers, D-Mich., and other members of the committee. 

SALT LAKE CITY — O.co, formerly Overstock.com, announced that its CEO, Dr. Patrick Byrne, was named executive of the year at the 2011 American Business Awards. O.co was also named best overall company (up to 2,500 employees).

"This is a great achievement for O.co," Byrne said. "I thank and applaud all my colleagues on this great achievement."

STOCKHOLM, Sweden -- Hennes & Mauritz AB reported Wednesday that net income for its 2Q dropped 18% to $673 million, from $817 million in the year-ago period.

The Swedish fashion retailer blamed higher procurement costs and promotional offers for the lagging performance.

Sales edged up to $5.1 billion from $4.96 billion in the prior year quarter, but gross margin shrank to 61.7% from a previous 65.9%.

LOS ANGELES — Guess? Inc. has announced that Maurice Marciano, the company's co-founder and chairman of its board of directors, has notified the company of his decision to retire as an executive officer when his current employment agreement expires on Jan. 28, 2012, the end of the company's current fiscal year.  Marciano will continue to serve the company as non-rxecutive chairman of its board of directors.

Cincinnati -- In its fifth annual sustainability report, released Tuesday, The Kroger Co. said it continues to meet its benchmarks, including reducing in-store energy consumption by 30%.

"In 2010, Kroger stores saved enough energy to power the city of Fort Worth for a full year,” said Rodney McMullen, president and COO of Kroger. “We sent less waste to landfills, recycled more plastic, and provided our customers with five million more reusable bags.”

Washington, D.C. -- A Bloomberg report on Tuesday said that the women who sought to sue Wal-Mart Stores for gender bias on behalf of 1.5 million co-workers said they will continue the fight in smaller lawsuits in lower courts and claims with the U.S. Equal Employment Opportunity Commission.

The U.S. Supreme Court on Monday said the women failed to prove that Wal-Mart had a nationwide policy that led to gender discrimination, precluding a class action and forcing the plaintiffs to pursue claims on their own.

Boston -- A survey released Tuesday by the Boston Consulting Group found that a growing number of consumers around the world are growing more anxious about the future, and are planning to reduce or maintain -- but not increase -- their spending.

Pittsburgh -- GNC Holdings announced Monday that its president and chief merchandising and marketing officer Beth Kaplan has resigned the company.

After three-and-a-half years in the position, Kaplan cited a desire to pursue personal interests as reason for the departure. She will also resign as a director of the company.

Joe Fortunato, CEO, will reassume the title of president of GNC.

In related news, Amy B. Lane has joined GNC Holdings’ board of directors, replacing Kaplan.

Minneapolis -- Best Buy Co. said Tuesday that it will buy back $5 billion of its common stock and raise its quarterly dividend by 7%.

The retailer said that the buyback replaces a $5.5 billion repurchase program that had about $800 million left as of May 28. The announcement came just ahead of its shareholders meeting in Richfield, Minn.

CINCINNATI — Kroger announced that it has named Michael Donnelly SVP merchandising. Donnelly has been president of the company's Ralphs Grocery Company division, based in Los Angeles, Calif., since August 2007.

In his new position, Donnelly will lead all merchandising and procurement for Kroger.