Corporate Governance

Suppliers to Walmart are always looking for ways to align themselves with the retailer and develop strategies that drive sales. Nothing could be more instructive on that front than 2015 version of a Global Responsibility Report, which reveals the company’s extensive social and environmental commitments and accomplishments.

The eighth annual edition of the document was released this week in conjunction with other material related to the company June 5 shareholders meeting.

Chicago -- Sears Holdings Corp. has tapped former Rouse Properties COO Benjamin Schall to lead new Sears REIT Seritage Growth Properties. The real estate investment trust was formed by Sears to buy some of its stores and generate $2.5 billion in cash.

Schall’s appointment is effective May 4. He spent three years as COO of publicly traded REIT Rouse, overseeing operations of 35 malls in 21 states.  

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.

Sidney, Neb. -- Cabela's Inc. saw profit rise 6.9% to $27.5 million in the first quarter, topping Wall Street expectations. Revenue of $827.1 million, a 14% increase, also exceeded Street forecasts.

By segment, retail store revenue increased 18.9% to $524.4 million; direct revenue decreased 3.3% to $173.5 million; and Financial Services revenue increased 24.7% to $122.9 million.

During the period, consolidated same-store sales decreased 1.3%.

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.

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.

Macy’s Inc. is teaming up with a former Victoria’s Secret Angel to develop a new line of contemporary bras and panties designed to appeal to women who are looking for the "perfect fit and shape."

Bentonville, Ark. -- Wal-Mart's Sam's Club division is launching new, high-value services for small-business owners as it looks to differentiate itself from Costco while fending off competition from well-capitalized online startup Jet.com.