Corporate Governance

Deerfield, Ill. -- Following Walgreens' announcement last week about taking the next step in acquiring Alliance Boots, Alex Gourlay, executive VP Walgreens Boots Alliance and president of Walgreens, announced a proposed operational organization structure in a letter to Walgreens employees.
 

Plano, Texas – Pizza Hut Inc. is deploying energy management systems from Entouch Controls at 500 corporate stores. The company plans to recommend the Entouch technology to its 5,800 franchised stores, as well.

Roanoke, Va. -- Advance Auto Parts beat Wall Street projections with a 19% profit increase in the second quarter – from $116.9 million last year to $139.5 million.

The acquisition of General Parts drove sales up 52%, to $2.35 billion, from $1.55 billion in the same quarter last year. Wall Street anticipated $2.32 billion.

"We remain on pace against our base business expectations, integration milestones and with our financial performance,” said Advance CEO Darren Jackson.

Westborough, Mass. -- BJ's Wholesale Club announced partnerships with 215 schools through the organization's Adopt-A-School program. At the beginning of each school year, every BJ's Wholesale Club and Distribution Center partners with a local school to help enhance existing curriculum.

Schools participating in BJ's Adopt-A-School Program receive a one-time, $500 donation, which goes toward discretionary programs, such as field trips and special events, reading programs or other educational needs. The schools also receive a complimentary BJ's Membership.

Gainesville, Fla. -- Hip hotel brand Hotel Indigo has inked a deal to open a 120-room boutique property at mixed-use project Celebration Pointe, in Gainesville, Florida. The InterContinental Hotel Group’s banner will bring boutique style to a neighborhood that has garnered attention for its urban style, featuring a pedestrian-friendly atmosphere, inspired architectural features and abundant green space.

Menomonee Falls, Wis. – Kohl’s Corp. had a relatively flat second quarter of fiscal 2014 compared to the same period the previous year. Net income slightly rose to $232 million from $231 million, while sales fell 1% to $4.24 billion from $4.28 billion.

Same-store sales dropped 1.1%, although Kohl’s said they turned positive in July. Kohl’s plans to open four new stores in fall 2014, including one store which was temporarily closed in the first quarter for a complete re-build.

Oak Brook, Ill. – Net income at Ace Hardware Corp. rose 57% to $66.5 million, from $24.2 million. Revenues climbed 13% to $1.33 billion, from $1.17 billion.

Dallas – Net loss at specialty jewelry retailer DSGE Inc. roughly tripled to $4.45 million in the second quarter of fiscal 2014 from $1.12 million in the same period a year earlier. Writeoffs related to the closure of DSGE’s Southern Bullion banner drove the net loss increase.

Bentonville, Ark. – Consolidated net income at Wal-Mart Stores Inc. grew 0.6% to $4.1 billion in the second quarter of fiscal 2014 from $4.07 billion in the second quarter of fiscal 2013, with factors including incremental e-commerce investments and healthcare costs dampening profit growth. Wal-Mart cut its profit forecast for the full year as a result.

Overall second quarter performance at Wal-Mart was sluggish. Net sales rose 3% to $119.3 billion from $116.1 billion. Currency exchange rate fluctuations negatively impacted net sales performance.

Framingham, Mass. - Staples Advantage, the business-to-business division of Staples, has launched a Technology Recycling Service. The program, offered in partnership with Electronic Recyclers International Inc. (ERI) allows businesses of all sizes to recycle large volumes of electronics in a secure manner.

Staples Advantage’s new program allows businesses to recycle equipment – from cell phones and keyboards to telecom equipment and multi-function devices – via three steps:

1. Order recycling boxes online.