Strategy

WAYNE, N.J. — The Toys"R"Us Children's Fund announced it will award $1 million in grants to 54 nonprofit organizations supporting children in the state of New Jersey. The grants will be distributed to the selected charities by Dec. 31 through the Fund's statewide giving initiative, which launched in March. According to the company, the grants will help to alleviate economic challenges and sustain organizations that favorably impact children across New Jersey, where both the Fund and Toys"R"Us Inc. are headquartered.

AUSTIN, Texas — Whole Foods announced that in just six weeks, its shoppers donated more than $2 million in stores and online to support the School Garden Grant Program, the first major initiative of the Whole Kids Foundation. In partnership with FoodCorps, the Foundation will fund $2,000 grants for schools in the United States and Canada to support the launch or expansion of school gardens.

BOCA RATON, Fla. — Office Depot delivered higher profits for its third quarter, but sales were down thanks in part to weak comps at its North American retail division. Office Depot reported that total company sales for the third quarter of 2011 were $2.8 billion, a 2% decrease compared with the third quarter of 2010. Net earnings for the quarter were $92 million, or 28 cents per diluted share, compared with $32 million or 12 cents per diluted share for the same period last year.

BENTONVILLE, Ark. — Walmart announced that it has donated $5 million to the Smithsonian Institution to support the construction of the National Museum of African American History and Culture (NMAAHC) in Washington, D.C.

The NMAAHC was established in 2003 by Congress, making it the 19th Smithsonian Institution museum. It will be the only national museum devoted exclusively to the documentation of African-American life, art, history and culture.

CHICAGO — At an event Tuesday in Chicago, Supervalu announced that it will open a Save-A-Lot store in the Lawndale neighborhood of Chicago, bringing thae total number of Save-A-Lot stores in the Chicagoland area to 14. Supervalu, which said it is opening the store as part of its commitment to helping eliminate food deserts nationally, made the announcement alongside First Lady Michelle Obama and Chicago Mayor Rahm Emanuel. The Lawndale store will open by the end of November. 

Issaquah, Wash. — Costco Wholesale's donations to a Washington state voter initiative that would legalize liquor sales by private retailers have broken state records, according to published reports.

New York City -- A Tuesday report by Women’s Wear Daily said that the outlet division of Saks has named a former Barneys executive as its new VP.

Saks Off 5th has named Peter Rizzo, former Barneys executive VP, as its new senior VP and creative director for merchandising.

Austin, Texas -- Retail credit solution-provider NewComLink said Tuesday that Zale Corp. has implemented the NewComLink platform as part of its new program to provide alternative financing options to its U.S. customers.

Zale announced the new alternative financing program on Aug. 31, which is currently available in all Zales, Zales Outlet and Gordon’s retail stores.

Fort Worth, Texas -- RadioShack Corp. announced Tuesday a 100% increase in its dividend and the authorization of a $200 million share repurchase program as part of a new capital allocation strategy.

The strategy, according to the company, is designed to balance business growth opportunities with continued strong cash flow and provide a more consistent return of excess cash to long-term shareholders.

Pittsburgh -- Dick’s Sporting Goods announced it is opening five stores this week.

The retailer will be opening stores at Fort Smith Pavilion, Fort Smith, Ark.; Springbrook Prairie Pavilion, Naperville, Ill.; Indian Mound Mall, Heath, Ohio; The Shops at Stonewall, Gainesville, Va.; and Lisbon Landing, Lisbon, Conn.