Corporate Governance

Dick’s Sporting Goods said marketing efforts, improved customer experience and selective pricing initiatives in the third quarter helped traffic which resulted in net sales of $1.4 billion for the quarter, an increase of 6.7% compared to the year-ago period.

Walmart will kick off a pre-Black Friday savings event in stores and online at 8 a.m. Friday, Nov. 22. The big box retailer is lowering prices on toys and electronics to match select Black Friday offers from Target, Toys “R” Us and Best Buy one week early.

Sears Canada said a one-time charge of $41 million related to restructuring and asset impairment affected its third quarter results, which resulted in a net loss of about $46.7 million USD — more than double the net loss of $21 million it posted in the same quarter of the previous fiscal year.

In addition, revenues of $940.7 million were down about 6% from $1 billion. In one bright spot, same-store sales climbed 1.2%. Sears Canada is in the middle of a three-year turnaround program launched in 2012.

Best Buy warned that its margins may take a hit this quarter in what is shaping up to be an extremely competitive environment, following third quarter results. The company posted a net income of $54 million for the quarter amid tight cost controls, compared to a net loss of $10 million during the same period a year earlier.

The chain posted revenue of $9.36 billion, which was flat with last year and below analyst expectations of $9.37 billion.

The TJX Companies’ net income for the third quarter soared 35% to $622.6 million from $461.5 million in the year-ago period. The better-than-expected results prompted the company to raise its full-year guidance.

Net sales increased approximately 9% to $6.98 billion from $6.41 billion as bargain-hunting consumers flocked to its stores. Same-store sales rose 5%. The chain credited the ability of its off-price format to succeed in any economic environment as a key component of its strong quarterly performance.

RadioShack has announced the retirement of Thomas G. Plaskett from the company's board of directors. Plaskett had served on the RadioShack board since 1986, and was a member of the audit and compliance committee as well as the corporate governance committee.

His retirement is effective immediately, and the company intends to begin a search for a new independent director to fill his board seat.

America’s Thrift Stores has hired former Tiffany executive Mike Kane as its new chief operations officer. Kane joins the leadership team at the largest privately owned thrift store company in the Southeast.

At Tiffany, Kane served as VP of manufacturing and prior to that, as a division president.

"I am excited about joining such a passionate group of people," said Kane, "and I see tremendous dedication to do whatever it takes to achieve the mission we have started."

Dr. Pepper Snapple Group plans to distribute a growing line of all-natural, antioxidant-infused beverages.

Bai Brands, which makes the Bai 5 line, said the two companies have been working together for the last two years in select markets around the country and will now expand their partnership in most major markets.

Kroger announced its succession plan for secretary and general counsel. Paul Heldman, 62, a 31-year Kroger veteran who has been serving as the company's general counsel since 1989, secretary since 1992 and EVP since 2006, plans to retire in spring of 2014.

Cincinnati — To supply families in need with fresh food this holiday season, Kroger customers and associates will be able to purchase pre-filled bags and boxes of food to be added to collection barrels.