Corporate Responsibility

Washington, D.C. -- In a ruling that may mean new limits on class-action suits, the Supreme Court on Monday ruled for Wal-Mart Stores in the largest sex-discrimination lawsuit in history as it put the brakes on a massive job discrimination lawsuit against the chain.

BENTONVILLE, Ark. — Wal-Mart Stores announced that it has completed its investment for a 51% stake in South African-based Massmart Holdings Limited for ZAR148 per Massmart ordinary share.

Massmart will continue to trade on the JSE Limited to provide Massmart shareholders with the ability to participate in the growth opportunity of the combined entity.  

San Francisco -- Best Buy Co. has reportedly agreed to pay $10.2 million in a settlement related to a job discrimination class-action lawsuit, Reuters reported.

The lawsuit, filed in 2005 in U.S. District Court in Northern California, alleged that the retailer discriminated against women, African-American and Latino employees by denying them promotions and more lucrative sales positions. Best Buy has denied any wrongdoing.

NEW YORK — Macy’s announced that it will offer an exclusive collection of area rugs that have been certified by GoodWeave, an international nonprofit organization that works to ensure rugs made by hand in Nepal and India are free of child labor. The GoodWeave collection, including 20 styles available in various sizes, will be carried in select Macy’s stores in New York and New Jersey.

It had been awful quiet on the organized labor front for a while, so news this week of the creation of a new union-backed anti-Walmart group serves as a reminder that unions are the equivalent of a bad case of herpes to Walmart. The discomfort and visible symptoms associated with their organizing activities occasionally subside, but there is no cure and eventually the company experiences another outbreak.

New York City -- Chicago Mayor Rahm Emanuel met with executives from six grocery chains, including Walgreen Co. Wal-Mart Stores and Aldi about eliminating food “deserts” in six Chicago neighborhoods, the Associated Press reported.

Emanuel showed a detailed map of Chicago food deserts and made business cases to the grocery executives for specific properties in each food desert area. He said 450,000 Chicagoan's don't have access to fresh food.

HOUSTON — Men's Wearhouse has named Douglas Ewert president and CEO of the company, succeeding George Zimmer.

As previously announced, Zimmer will continue as executive chairman of the board of directors.

Zimmer stated, "I am excited to turn over the day-to-day reins of Men's Wearhouse to Doug. I know he has the same passion for this company and its people as I do. With him leading our efforts, we will continue to provide the highest level of service to our customers and our unique culture will thrive."  

CINCINNATI — Kroger reported solid first-quarter results and marked 30 consecutive quarters in which identical-store sales increased, the supermarket retailer announced Thursday.

Kroger said that identical-store sales rose 4.6%, excluding fuel, to about $20.8 billion. Identical stores are defined as supermarkets open at least five quarters.

The company said its first-quarter revenue for the period ended May 21, including fuel, rose 11% to about $27.5 billion, compared with the year-ago period. Excluding fuel, total sales were 4.8% above last year.