Corporate Governance

Bentonville, Ark. -- As the world’s largest retailer has been challenged to grow sales, the Wal-Mart Stores Inc. revealed in its proxy statement filed with security regulators that executive cash bonuses are now being tied to sales performance – in addition to operating income – in the fiscal year.

Columbus, Ohio -- Footwear big-box retailer DSW will open stores in Michigan, California, and Washington State this month.

A 20,000-sq.-ft. store will open April 30 at Pirate’s Plaza in Flint, Michigan, representing the 10th DSW store in the Detroit market.

In Bakersfield, California, DSW will open an 18,000-sq.-ft. store at Shops at River Walk, also on April 30. The Shops at River Walk store marks the company’s first in Bakersfield.

New York -- A major new credit agreement has been secured by the 262 store Hancock Fabric chain with Wells Fargo Capital and the newly formed Great American Capital Partners subsidiary of B. Riley Financial.

The new financing deal, executed a year and a half before an existing credit facility was due to expire, provides the struggling Hancock Fabric chain with a new five year, $100 million asset-backed credit facility from Wells Fargo and a $17.5 million term loan from Great American.

Walmart detailed a wide range of considerable accomplishments in its eighth annual Global Responsibility Report released this week, but what the world really want to know is what’s up with those toilets at Pico Rivera, Calif., supercenter.

In case you missed it, Walmart abruptly closed the store and four others due to what the company characterized as emergency plumbing issues. Plans called for the stores to close for six months while repairs were made and employees were given two months severance pay and told them would need to reapply for jobs when the stores reopened.

Walmart increased hourly pay for employees earlier this year but top executives didn’t earn as much as they could have after the company came up short on key metrics.

Framingham, Mass. -- American women are ambitious and confident when it comes to pursuing their goals, yet understand the hard work it takes to achieve them.

In a new survey from Marshalls, 85% of American women ages 22 – 54 who have goals feel confident that they will achieve them in the next year, which is no easy feat with women juggling four different goals on average. Even as master multi-taskers women know when to ask for help, with 91% reporting to need a little boost and support to help create a path toward success.
 

Bentonville, Ark. -- Global responsibility and sustainability continue to be priorities for Wal-Mart Stores Inc.  The company filed its proxy statement ahead of its June 5 annual shareholders meeting, and also issued its annual report, and the 2015 Global Responsibility Report and Global Compliance Program Report.

The Global Responsibility Report outlined social and environmental work over the past year.  Accomplishments, according to the company, include:  

The TJX Cos. Inc. announced Wednesday that Chairman Bernard Cammarata will retire following the company’s annual shareholder meeting scheduled for June 11.