Corporate Governance

New York -- The Securities and Exchange Commission (SEC) rejected a request by Wal-Mart Stores to prevent shareholders from voting on a proposal to elect an independent board chairman at the retailer’s annual meeting in June.

Wal-Mart had argued that the proposal, which was submitted by the International Brotherhood of Teamsters General Fund, should be omitted because it was vague in its standard of independence, according to Reuters. But the SEC rejected the argument.
 

Toronto - Joe Fresh and Ryerson University are launching a long-term partnership that will see the creation of Canada's first fashion innovation center. The Joe Fresh Centre for Fashion Innovation, made possible with a $1 million investment from Joe Fresh, will develop and fund Canada's emerging fashion-inspired businesses through Ryerson's Fashion Zone, an incubator that supports students and student entrepreneurship.

Chicago – Bigger is often said to be better, but some big restaurant chains may not agree. The 500 largest restaurant chains in the U.S. accelerated their cumulative sales growth in 2014 to a 4% increase, totaling an estimated $274.4 billion, according to data released by Technomic Inc.

But some of the biggest brands among them, namely Subway and McDonald's, lost ground to focused-menu competitors and emerging fast-casual chains and reported overall sales decreases for the year.

New York -- Fresh & Easy plans to close 55 stores, which would leave the chain with about 110 locations, the Orange Country Register reported. Fresh & Easy is owned by the Yucaipa Cos., which bought the supermarket chain out of bankruptcy in 2013 from U.K. retailer Tesco. It operates stores in Nevada, California and Arizona.

The stores slated for closing do not meet Fresh & Easy’s new model of “modern convenience.”

Sportsman's Warehouse is trying to increase its appeal among women with a promotion aimed at outdoorsy ladies.

The retailer plans to host its 5th annual Ladies' Night on March 26. The company says the event will celebrate the growing number of women who regularly participate, or are just becoming involved in, outdoor sports such as hunting, fishing, camping and shooting.

San Jose, Calif. -- EBay Inc. on Monday announced it has appointed two independent directors to its board as it prepares for the spinoff of its payments division, PayPal, in the second half of this year.

Ebay appointed Tony Bates, president of action camera maker GoPro, and Gail McGovern, president and CEO of the American Red Cross, to its board.

Cost-cutting efforts ongoing at Toys “R” Us Inc. helped the retailer report a profit in the fourth quarter.

Overall, for the fourth quarter ended Jan. 31, Toys “R” Us reported a profit of $265 million, compared with a year-earlier loss of $210 million.

Mexico City - Mexican brand manufacturer and retailer Ferrioni is updating several legacy systems and processes by implementing the complete Jesta I.S. Vision Suite. Ferrioni will not only replace its manual supply chain processes to fully automated ones, but it will also replace legacy POS and merchandising systems.