Corporate Governance

Haier America president and CEO Shariff Kan has stepped down and will be replaced by Adrian Micu, effective Feb. 10, according to the company.

Micu comes to Haier with more than 25 years of executive-level engineering, technology and product development experience within the appliance industry. Most recently, he held the position of VP engineering with Whirlpool Corporation.

Target’s data security breach has already cost all credit unions between $25 million to $30 million. Those numbers are expected to climb in coming weeks as more of the cooperative financial institutions report their costs and as fraud losses are incurred down the road, according to preliminary results of a survey of credit unions by the Credit Union National Association (CUNA).

7 Up announced that it is partnering with Project 7 — a company dedicated to making "products for good" — to give consumers the opportunity to give back to people and local communities around the world.

Walmart U.S. President and CEO Bill Simon joined 280 of the nation's mayors in Washington, D.C., at the U.S. Conference of Mayors Meeting to announce a new fund for innovation in American manufacturing and a new supplier commitment to bring production of bikes and jobs to South Carolina.

The Walmart Foundation’s Colorado State Giving Program has awarded $321,000 to eight Colorado nonprofits that are helping to fund local programs to improve education, women’s economic empowerment, healthy eating and fighting hunger.

The organizations include We Don’t Waste, Lapuente Home, Care and Share, Kids Aid, Project Angel Heart, Women’s Resource Agency, Broadway Assistance Center and Discover Goodwill of Southern and Western Colorado.

Hudson’s Bay Company plans to launch a new mobile shopping application for both Hudson’s Bay and Lord & Taylor.

HBC is partnering with Pounce, a consumer-facing mobile app, to integrate traditional media with m-commerce, providing customers the opportunity to purchase merchandise displayed in print media using tablets and smartphones.

According to Pounce, it is the only Hudson’s Bay- and Lord & Taylor-approved mobile app that allows customers to instantly buy products seen in print by simply scanning an image.

Meijer customers donated more than $510,000 during the company’s holiday Simply Give campaign, helping food pantries throughout the Midwest restock their shelves.

Combined with a donation from Meijer, the holiday campaign raised more than $1.2 million, making it the most successful campaign since Simply Give began in November 2008.

February 2014 is projected to be the coldest in four years and drier than last year for the U.S. as a whole. Much colder year-on-year trends will be widespread at the start of the month, especially across the Central U.S. The axis of colder temperatures shifts to the Northern Tier of the U.S. by the second week of the month. Much colder trends early in the month will help to clear remaining winter merchandise. A taste of spring arrives in the Deep South in retail week three, making this a favorable time for categories such as sun care, apparel and cold beverages.

New York -- Coach Inc.'s net income dropped to $297.4 million in the second quarter, from $352.8 million a year earlier sales in North America fell sharply during the key holiday season.

Overall revenue for the three months ended Dec. 28 fell 5.6% to $1.42 billion, with a 13.6% decrease in comparable-store sales in North America.

New York -- eBay posted a profit of $850 million, compared with earnings of $751 million a year ago, for its fourth quarter, ended Dec. 31, 2013, while revenues rose 13% to $4.5 billion, fueled by strong mobile results. In reporting its results, the company also said it has received a proposal from activist investor Carl Icahn seeking to spin off PayPal as a separate company.