Strategy

New York City -- Fast-fashion retailer Forever 21 has pledged to donate 100% of its global online sales on March 18 to help the victims of Japan’s earthquake and tsunami. 

All of Forever 21's e-commerce sites -- forever21.com, canada.forever21.com, forever21.com/eu, forever21.com/uk, forever21.co.kr, and forever21.co.jp -- are participating in the initiative.

Warrendale, Pa. -- Apparel retailer Rue21 plans to double the size of its current 189,600-sq.-ft. distribution center in Weirton, W. Va. Development plans call for the construction of 180,000 sq. ft. of additional storage space, additional receiving docks, and improved truck circulation areas.

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.

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.

By Martin Brewer, [email protected]

MOORESVILLE, N.C. -- Lowe's announced that it will donate $1 million to support the Red Cross Japan Earthquake and Pacific Tsunami relief effort that is assisting victims in Japan. The company said that customers who want to help Lowe's support Japan relief efforts can do so by making a donation on Lowes.com and Lowe’s Canada website, Lowes.ca. Money donated will go to the American Red Cross and the Canadian Red Cross.

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.

PAWTUCKET, R.I. -- Hasbro announced that it has appointed Margie Chan-Yip to serve as VP global publishing. In her new role, Chan-Yip will be responsible for creating new and innovative ways to bring Hasbro brand stories to consumers worldwide, from traditional print to e-book formats.

COLUMBUS, Ohio  -- Victoria's Secret announced that it has expanded its partnership with Major League Baseball Properties to include 12 new teams for its line of co-branded (VS) PINK merchandise. The spring 2011 collection will feature the Arizona Diamondbacks, Baltimore Orioles, Cleveland Indians, Colorado Rockies, Detroit Tigers, Milwaukee Brewers, Oakland Athletics, 2010 World Series Champion San Francisco Giants, Seattle Mariners, Tampa Bay Rays, Texas Rangers and Washington Nationals.

NEW YORK — Any hope that consumer spending will improve may be dampered by predictions of rising gas prices. 

Nielsen predicts that in the United States, Nielsen noted, households could be paying an extra $52.50 with a 50-cent increase in gas prices, $105 with a $1 increase and $210 if prices jump up $2, prompting consumers to tighten their wallets. This will mirror historic trends, which include increased trip compression, more value-conscious shopping alternatives and increased use of coupons, Nielsen said.