Strategy

Nashville, Tenn. -- Genesco said Friday that its net income rose 19%, boosted by acquisitions and higher revenue from its stores.

Net income rose 19% to $30.9 million, from $25.9 million in the prior-year period. Revenue rose 17% to $560.5 million, from $479 million. Analysts expected revenue of $539.8 million.

Same-store sales were up 9%.

For the full year, net income rose 85% to $53.2 million. Revenue rose 14% to $1.79 billion, from $1.57 billion.

BENTONVILLE, Ark. — Walmart said Thursday that it is increasing its annual dividend 21% on the back of strong earnings.

The retailer last month reported a 27% increase in fourth-quarter net income as it benefited from cost-cutting and strong international sales. Walmart said it will pay an annual dividend this year of $1.46, up from $1.21. It will pay quarterly dividends of 36.5 cents in April, June, September and January in fiscal 2012, which ends Jan. 31.

The next dividend will be paid on April 4 to shareholders of record on March 11.

Dover, Del. -- The Delaware Supreme Court has rejected an appeal by billionaire Ron Burkle in a lawsuit challenging a poison pill plan adopted by Barnes & Noble after he doubled his stake in the company.

After hearing arguments Wednesday, the court on Thursday affirmed a judge's ruling last year upholding the poison pill plan, which limited a shareholder's stake in the company to 20%.

NEW YORK — EcoTools, an earth-friendly bath and beauty products brand, has made its way to Walmart.

Last month, a variety of EcoTools cosmetic brushes lined the shelves of Walmart stores throughout the country. EcoTools also introduced the EcoTools everyday collection 6-piece brush set exclusively at Walmart. The collection, which comes in a hemp case, includes an angled blush brush, an angle eyeliner brush, concealer brush, eye shading brush and detailer/lip brush. The 6-piece set retails for $10.98.

Matthews, N.C. -- Family Dollar Stores launched its strategic alignment with Marketing Management, Inc. (MMI) in front of more than 100 key suppliers at the company's Private Brand Summit Thursday in Charlotte, N.C. Through this exclusive on-site alignment, MMI will assist Family Dollar with private brand sourcing, product development, category analytics, assortment strategy, quality assurance and customer insights.

IRVINGTON, N.Y. — Prestige Brands on Friday named Paul Hennessey VP operations.

“[Hennessey’s] background in over-the-counter consumer products is a terrific match for our company,” stated Prestige president and CEO Matthew Mannelly. “As we continue to grow and become even more customer and consumer focused in OTC, [Hennessey’s] leadership skills and extensive experience in supply chain manufacturing will serve our brands and our company well."

ATLANTA -- The Home Depot announced that Bill Lennie has been named president, The Home Depot Canada, effective immediately. Lennie will replace Aaron Carmack, who is taking an extended leave of absence to attend to a personal illness.

"We are fortunate to have an executive with Bill's experience and leadership abilities who can quickly step into this critical role," said Frank Blake, chairman and CEO.  "We wish Aaron the best and look forward to his return."

San Diego -- Target Corp. was ordered by a California judge to pay $22.5 million to settle a lawsuit alleging that the chain illegally disposed hazardous waste at hundreds of stores throughout the state, prosecutors said Thursday, according to the Associated Press.

The settlement puts Target under tight scrutiny to ensure that it properly disposes waste at its nearly 300 stores in California, the report said.