Finance & Capital Management

BENTONVILLE, Ark. -- Walmart announced it has eliminated more than 80% of the waste that would go to landfills from its operations in California by implementing a comprehensive waste reduction program. The results far exceed national average where EPA estimates only 45% of waste is diverted from landfills and the California rate of 65%.

The program is now being rolled out across the chain’s 4,400 stores, Sam’s Club locations and distribution centers in the United States, moving the retailer closer to its global goal of creating zero waste.

New York City -- Investment bank Goldman Sachs announced that H. Lee Scott Jr., former CEO of Wal-Mart Stores, will not stand for re-election at the annual meeting in May.

Scott has not been at Goldman for long. In 2010, Goldman tapped him to replace the former managing director of McKinsey & Company, Rajat K. Gupta, when he left the board.

Fairfield, N.J. -- Amerlux Global Lighting Solutions recently celebrated the grand opening of Guangzhou Amerlux Lighting Solutions Co. Ltd., its new facility in China, as well as a Hong Kong sales office. The Guangzhou location was officially launched on Feb. 15 with an elaborate traditional Chinese ceremony.

NEW YORK — Next to gas, the rising cost of food almost always tops consumers' list of spending concerns, and those concerns will surely rise as food prices reached peak levels last month, according to the Labor Department's Producer Price Index. The particularly high increase in the cost of both fresh and dry vegetables not only hurts consumer wallets, but could also curtail efforts, such as this partnership between First Lady Obama and Walmart, to encourage Americans to eat healthier.

New York City -- Borders Group will close another 28 superstore locations in addition to the 200 locations it is already shutting down as part of its reorganization under bankruptcy protection.

The closings are expected to occur by the end of April and include stores in Hollywood, Calif., and Stamford, Conn.

"We reached the determination about these stores after a further review of their ongoing economic viability," Borders spokeswoman Mary Davis said in a statement.

PLEASANTON, Calif. -- Ross Stores has emerged as one of those value retailers that has shined during the recent economic downturn. The company once again reported strong earnings and sales growth for the fourth quarter and fiscal year, showing that while the economy may be improving, value remains an important concern for consumers.

Charlotte, N.C. -- Cato Corp.'s fiscal fourth-quarter net income climbed 8% as revenue improved. The company earned $7.9 million, compared with $7.3 million a year earlier.

Sales for the quarter ended January 29, 2011 were $224.3 million, a 3% increase over sales of $217.7 in the year-ago period. Same-store sales increased 1%.

Los Angeles -- Guess said Wednesday that its fourth-quarter net income rose 19% on a boost in sales in Europe, Asia and North America.

Guess said it earned $103.3 million, compared with profit of $86.6 million, or 93 cents per share, during the same period a year prior.

Revenue rose 18% to $756.9 million from $642 million. The results beat the expectations of analysts.