Finance & Capital Management

New York — Walmart topped the list retailers on the BrandZ Top 100 Most Valuable Global Brands, according to a study commissioned by WPP Group and conducted by Millward Brown Optimor.

The BrandZ Top 100 Most Valuable Global Brands study identifies and ranks the world's most valuable 100 brands by their dollar value, an analysis based on financial data combined with consumer measures of brand equity.

Toronto — Sears Canada has named Don Ross to its board of directors, effective immediately.  Ross is a partner at a prominent law firm in Toronto and is a member of the Law Society of Upper Canada, the New York State Bar Association, and the Canadian, American and International Bar Associations.

Sears Canada also announced today the resignation from the board of Deidra Merriwether, SVP and president retail services of Sears Holdings.

The California State Teachers' Retirement System (CalSTRS) intends to use its 5.3 million shares to block the reelection of the entire board of directors of Wal-Mart Stores. You may recall this is the same group that filed suit against Walmart and its executives over their alleged actions in Mexico.

Washington, D.C. — Sam's Club has pledged more than $2 million in donations to nonprofits supporting small business growth. The announcement was made by Sam's Club president and CEO Rosalind Brewer.

"At Sam’s Club our small business owners are our partners, and we want to put our money where our mission is — which is to be agents for and support our members and the small business community," said Brewer, addressing guests at the Dream Big Small Business of the Year awards luncheon at the Shoreham Hotel.

MINNEAPOLIS — Best Buy reported GAAP net earnings from continuing operations of $161 million, or 47 cents per diluted share, for the first quarter ended May 5, compared with net earnings from continuing operations of $255 million, or 64 cents per diluted share for the prior-year period.

New York -- The Justice Department and The Home Depot have reached a settlement in a case where the government accused the retailer of unlawfully terminating an employee who was a member of the Army National Guard.

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PITTSBURGH — American Eagle Outfitters is getting out of the children's business, announcing Friday that it is exploring a full or partial sale of 77kids, which includes 22 stores and the online business.

Robert Hanson, CEO of American Eagle Outfitters stated, “Although making this decision is disappointing, it is in the best interest of the company and our shareholders to prioritize and focus our efforts on businesses with the highest return potential. We thank the 77kids team for their hard work, passion and dedication.”