Trading Partners

Deerfield Beach, Fla. -- Walgreens’ fiscal fourth quarter net income fell 55% compared with a year ago when the drugstore operator recorded a big business sale gain. However, its adjusted earnings still beat analysts’ expectations.

Walgreen earned $353 million for the quarter ended Aug. 31, compared with $792 million a year ago. On an adjusted basis, Walgreen earned $553 million versus $599 million a year earlier. Adjusted earnings excluded acquisition-related costs and costs related to inventory.

DEERFIELD BEACH, Fla. — Walgreens’ fiscal fourth quarter net income fell 55% compared with a year ago when the drugstore operator recorded a big business sale gain. However, its adjusted earnings still beat analysts’ expectations.

Walgreen earned $353 million for the quarter ended Aug. 31, compared with $792 million a year ago. On an adjusted basis, Walgreen earned $553 million versus $599 million a year earlier. Adjusted earnings excluded acquisition-related costs and costs related to inventory.

Oak Brook, Ill. -- Inland American Real Estate Trust has announced the appointment of Thomas P. McGuinness as president. McGuinness joined Inland in 1982 and has held several executive positions throughout the Inland organization.  

In his new role, he will oversee the management of the company’s day-to-day operations, including the strategic business plan, investment decisions, asset management and financing functions for the national portfolio of 48 million sq. ft.

Corporate governance is a familiar topic, especially to Walmart and its suppliers, but the concept of supply chain governance is less well understood.

A global leader in the space, MetricStream, aims to change that. In a nutshell, the frim explains that supply chain governance is about helping organizations streamline and manage their supplier quality and performance while also identifying, mitigating and managing supplier risks for key procurement and manufacturing process.

Foothill Ranch, Calif. -- The Wet Seal said that two independent proxy advisors, Institutional Shareholder Services and Egan-Jones Proxy Services, recommended that the chain’s shareholders reject efforts by Clinton Group to replace six members of the company’s board of directors.  

CINCINNATI — Kroger, in partnership with key suppliers, has committed $3 million in donations for local breast cancer initiatives across the country to support National Breast Cancer Awareness month in October.

At the end of this year, Kroger will have donated more than $21 million to support breast cancer research, education and services since Giving Hope a Hand began in 2006.

Foothill Ranch, Calif. -- On the heels of activist investor The Clinton Group’s announced plans to replace some of Wet Seal’s board members, the retailer is advising its shareholders against supporting the move.

A desire to mitigate the impact of increasingly volatile commodity prices has led to the appointment of Craig Parr as Flower Foods first chief risk officer.

As the nation’s second largest producer and marketer of packaged bakery foods for retail and foodservice customers, Flower Foods said the move will result initially in increased focus on commodity hedging and purchasing strategies.