Sustainability

CONSHOHOCKEN, Pa.  — Ikea reported that sales for its fiscal year 2012 grew by 9.5% and profits were up 8% to $4.2 billion, thanks to its model of offering low-cost, functional furniture. Comparable-store sales were up 8% at its U.S. stores.

Bentonville, Ark. -- Wal-Mart Stores is tightening the reins on its global suppliers. Effective March 1, the retailer is implementing a "zero tolerance" policy for any supplier who subcontracts work to factories without the company’s knowledge, the Associated Press reported. Previously, Wal-Mart gave suppliers three chances to correct mistakes.

As part of the new rules, Wal-Mart will require all factories in Bangladesh to undergo an electrical and building safety assessment from an independent agency.

The board of directors of Stanley Black & Decker has announced that CEO John Lundgren has been elected to serve in the additional capacity as chairman of the board, effective March 13, following the expiration of Nolan Archibald’s term as executive chairman of the board.

Archibald’s employment agreement with the company expires on March 12, at which time he will retire as executive chairman of the board and as an executive of the company.

RACINE, Wis. — SC Johnson is marking its 90th anniversary of donating to the local United Way.

For nearly a century, the family-owned company known for brands such as Glade, Pledge and Scrubbing Bubbles has donated more than $50 million in cumulative contributions to the local nonprofit organization.

Framingham, Mass. -- Staples announced that John Burke, SVP business services, has been named to the newly created position of SVP chief culture officer. Burke joined Staples more than 23 years ago and led its Business Services team for 12 years.

FRAMINGHAM, Mass. — Staples has promoted SVP of business services John Burke to SVP, chief culture officer, a newly created role.

Burke will be charged with leading global efforts focused on building Staples’ culture and for driving improved associate engagement. He will champion Staples’ approach to ethics, environmental sustainability, community relations and diversity and inclusion. Burke will also serve as president of the Staples Foundation, the company’s nonprofit philanthropic organization.

Wayne, N.J. -- The Toys “R” Us Children’s Fund announced it has made a $1 million donation to the Hurricane Sandy New Jersey Relief Fund, created by New Jersey’s Governor Chris Christie and First Lady Mary Pat Christie to aid, comfort and rebuild the Garden State in the wake of the devastation that impacted so many children and families.
 

New York -- Monday launched with heavily attended keynote addresses at the National Retail Federation’s 102nd BIG Show at the Jacob Javits Center in New York City.
    
Former United Nations secretary-general Kofi Annan shared his views about the state of world politics, joined by moderator and Macy’s CEO Terry Lundgren, who also is the outgoing chairman of the NRF.