Strategy

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.

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.

SAN FRANCISCO — Williams-Sonoma's net revenues increased 6.1% to $818 million from $771 million in the first quarter of fiscal 2011 ended May 1, 2011. Comparable brand revenue increased 5.4%. Diluted earnings per share was 30 cents versus 29 cents in the first quarter of 2011. On a non-GAAP basis, EPS for the quarter increased 13% to 34 cents versus 30 cents in the same period last year.

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.

Minneapolis — Target will open a single-level store in New Mexico, the first of its kind in the state. The store, located in Albuquerque, is scheduled to open in 2013 and will occupy 155,000 sq. ft.

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.

Boulder, Colo. — Giant-Landover and ShopRite are shoppers' two favorite supermarkets, according to results of a survey released Tuesday.