Corporate Responsibility

New York City -- Apparel giant VF Corp., whose brands include Wrangler, The North Face, and Nautica, said it has agreed to buy Timberland Co. for approximately $2 billion. The deal, expected to close in the third quarter, values Timberland at $43 a share, a 43% premium to Friday's closing price of $29.99 on the New York Stock Exchange.

New York City -- Wal-Mart Stores will donate as much as $5 million to New York City’s cash-strapped Summer Youth Employment Program, Crain’s New York Business reported. The donation will reportedly save 3,400 jobs.

Columbia, S.C. -- Edens & Avant announced Friday that its CEO Terry S. Brown has been named the Ernst & Young Entrepreneur of the Year 2011 Carolinas Award winner.

The awards program recognizes entrepreneurs who demonstrate excellence and extraordinary success in such areas as innovation, financial performance and personal commitment to their businesses and communities. Brown was selected as the winner in the real estate category from nearly 100 nominations across the Carolinas.

Toronto -- Sears Canada has replaced more than 130,000 inefficient incandescent spotlights with energy-saving LED lighting in all Sears Home and full-line stores across Canada. The retrofit will reduce the company's electricity use by more than 16 million kilowatt hours (kWh) per year.

The latest installment in the dramatic collaboration between Procter & Gamble and Walmart is set to air this Saturday on NBC at 8 p.m. EST. The made-for-TV family movie called “Field of Vision” involves the topical subject of bullying, and in keeping with prior films offer viewers a heavy dose of morality.

WASHINGTON — CVS Caremark All Kids Can, a program of the CVS Caremark Charitable Trust and CVS Caremark, and VSA, the international organization on arts and disability, are showcasing their commitment to supporting inclusive arts education with the announcement of the 2011 All Kids Can Create student artists.

Austin, Texas -- Whole Foods Market announced the addition of Blake W. Nordstrom to the company's board of directors, increasing the size of the board to 12 members. He will serve on the audit committee.

Nordstrom, 50, has been president of Nordstrom since 2000 and has served as a member of the company's board of directors since 2005.
 

New York City -- Johnny Rockets debuted its updated interior design at its just-opened restaurant at South Street Seaport, in New York City.

"I've waited 10 years for this site, and we've taken great care to preserve the historical aspects of the building, while keeping to the tradition of our sleek and modern American feel," said Johnny Rockets franchise owner Bill White. "

It takes a special type of person to work at Walmart, according to chief information officer Rollin Ford, who told those assembled at the company’s shareholders’ meeting that customer service is in their DNA.

Ford, a 28-year Walmart executive, was called into service for a brief presentation at the meeting to recount his experience of working at Walmart while founder Sam Walton was still alive, since most of the thousands of store associates and many of the executives who attended the event joined the company after Walton death nearly 20 years ago.

New York City -- Office Depot has reached an agreement with Colorado’s attorney general to offer a refund to about 115 Colorado governmental agencies and nonprofits in connection with the sale of office supplies between January 2006 and March 2009, the Denver Business Journal reported.

The agreement calls for the chain to refund customers as much as $189,000.