Finance & Capital Management

Cincinnati -- The Kroger Co. said Thursday it will increase its quarterly dividend by 30% to 15 cents per share, payable Dec. 1.

The grocer said the move is prompted by a strong confidence in its business strategy.
 

BUCKEYE, Ariz. — Walmart boosted its sustainable reputation Thursday with the announcement of a new solar initiative at its distribution center near Phoenix.

The retailer will outfit the DC with more than 14,000 solar panels -- making it Walmart's largest solar installation to date. The panels will cover the 1,000 sq. ft. building and parking canopies. The panels will produce up to 30% of the center's energy needs and generate up to 5.3 million kilowatt hours of renewable energy per year, according to Walmart.

An expanded offering of private label pet care products will be coming soon to retailers shelves following the acquisition of Sergeants Pet Care Products by Perrigo, the leading global provider of store brand health and personal care items.

Perrigo said it signed a definitive agreement to acquire substantially all of the assets of Sergeant’s, a privately held Omaha-based company, for $285 million in an all cash deal that enables Perrigo to enter the $8 billion pet care market.

Columbus, Ohio -- DSW Inc. said Thursday that it has been awarded $7.2 million as a result of litigation with its insurance carrier stemming from its credit card data breach in 2005.

The $7.2 million award represents damages plus accrued interest.

In other news, DSW has declared a special dividend totaling $91 million to be paid on Oct. 26 to shareholders. According to president and CEO Mike MacDonald, the special distribution, which is in addition to the regular dividend, represents “significant cash flow generation.”

Seattle -- It’s official: Nordstrom is expanding into Canada. The department store chain on Thursday announced that it will open its first full-line stores in Canada, starting in fall 2014. It named veteran Nordstrom executive Karen McKibbin, most recently VP president and regional manager of Northern California and Hawaii, as president of Nordstrom Canada.

Nordstrom said is partnering with commercial real estate company Cadillac Fairview Corporation Limited to lease four stores at shopping centers in Calgary, Ottawa, Toronto, and Vancouver.

Dallas -- Fast-casual bakery concept Corner Bakery Café said Thursday it has executed a deal with a franchise group to open the chain’s first restaurants in the Pacific Northwest beginning in 2013.

Northwest Bakery Cafe, a group of restaurant operators that owns 95 Jack in the Box locations, is slated to open 18 Corner Bakery franchised restaurants in and around Seattle over the next seven years.

OMAHA, Neb. — ConAgra Foods has been named to two leading sustainability indices. For the second straight year the company has earned a spot on the Dow Jones Sustainability Index, and for the first time, the company has been added to the Carbon Disclosure Project’s (CDP’s) 2012 Carbon Disclosure Leadership Index.

FORT WORTH, Texas — Pier 1 Imports continues on a positive trajectory, reporting its 12th consecutive quarter of earnings and same-store sales growth.

For the second quarter, the company reported net income of $26.2 million, or 24 cents per share, compared with net income of $16.6 million, or 14 cents per share, for the same period last year.