Finance & Capital Management

No company gave more money and products to charity in 2011 than Walmart, according to The Chronicle of Philanthropy’s annual ranking.

The publication put Walmart at the top of its list of the 10 most charitable companies, indicating that the company donated $342 million in cash and $616 million in products last year. That is the equivalent of 4.1% of the company’s 2010 pretax profits.

New York -- An affiliate of Manhattan-based real estate company Jemb Realty Corp. has agreed to purchase the leases and certain intellectual assets of Daffy’s Inc. for $43 million, Bloomberg reported. The deal is subject to bankruptcy court approval.

Daffy’s filed for Chapter 11 protection listing assets of $60.2 million and debt of $70.5 million as of July 1. The chain operates 19 stores, with the majority in the New York City metro area.

New York -- Helped by hot weather and clearance sales, many retailers reported solid results in July, a month that can be a tepid lead-up to the back-to-school shopping season.

Some of the strongest showings in the month were in the department store category, as those reporting all showed July gains.

Macy’s led the pack with a 4.1% same-store sales rise. Total sales increased 5.1% to $1.7 billion over the four-week period.

Deerfield, Ill. -- Walgreens and Alliance Boots on Thursday announced the completion of Walgreens initial investment in the strategic partnership following receipt of all required regulatory approvals.

The Walgreens investment consists of approximately $4 billion in cash and 83.4 million shares of Walgreens common stock in exchange for a 45% equity stake in Alliance Boots. Walgreens has the option to proceed to a full combination in approximately three years’ time by acquiring the remaining 55% of Alliance Boots.

Indianapolis -- Hhgregg reported Thursday a loss of $5.7 million for the quarter ended June 30, compared with a loss of $0.8 million in the year-ago period. The electronics and appliances retailer cited higher expenses coupled with same-store sales declines for the poor performance.

Net sales increased 13.5% to $489.9 million from $431.5 million, and same-store sales decreased 5.1%.

Jacksonville, Fla. -- Body Central Corp., which operates 258 stores under the Body Shop and Body Central banners, reported Thursday that net income for the second quarter dropped to $3.4 million, from $5.3 million in the year-ago period.

Revenues climbed 6.3% to $79.4 million, and same-store sales decreased 7.6%.

The company opened 15 new stores and closed one during the second quarter.
 

Los Angeles -- CBRE Group announced that Mike Gerard has been named president of the company’s U.S. Central Division, a geographic region with more than 25 offices in nine states.

Gerard has served as chief learning officer since early 2011, with responsibility for CBRE University, and other learning and development programs. He will continue to provide executive oversight for CBRE University. Andrea Lipton, corporate director of learning & development, has been promoted to VP and will run the university’s day-to-day operations.

Naperville, Ill. -- Office Max Inc. reported Thursday net income of $10.7 million for the second quarter, besting Wall Street predictions and representing a strong turnaround from last year’s $3 million loss stemming from store closures and severance expenses.

Revenue for the quarter slipped 2.7% to $1.6 billion, missing analysts’ forecasted $1.64 billion in revenue. The office supply retailer said it will reinstate its quarterly common stock dividend, which it suspended more than three years ago.

Camp Hill, Pa. -- Rite Aid Corp. reported Thursday that July same-store sales rose 0.5%.

Total sales dipped 0.1% to $1.88 billion.
 

New York -- Many retailers reported better-than-expected results in July as warm weather and clearance sales drew shoppers into stores. Thomson Reuters reported that three-quarters of retailers reported results beat expectations. Costco Wholesale Corp., Target Corp., Limited Brands and Gap Inc. all reported gains above expectations.