Corporate Governance

DSW’s division the Affiliated Business Group has entered into a joint agreement with Loehmann’s which renders ABG the sole supplier for Loehmann’s footwear departments in the company’s U.S. locations and e-commerce site.

The initial roll out is expected to begin at a few stores starting December, with the balance of the chain and e-commerce launching in the first quarter 2014. ABG will plan, procure and deliver the entire women's and men's footwear inventory, while Loehmann’s will provide staffing for the shoe departments.

SPARKS, Md. — McCormick & Company reported sales and profit results for the second quarter ended May 31, at which time the company completed its acquisition of Wuhan Asia Pacific Condiments, a leading bouillon manufacturer in central China.

WASHINGTON — Shop.org has elected six new members to its board of directors and re-elected three. Each member will serve a two-year term. 

The new members are Elaine Boltz, SVP of e-commerce, the TJX companies; Jill Braff, EVP of digital commerce, HSNi, Ivy Chin, SVP of e-commerce and omnichannel digital, Belk; Jason Goldberg, VP of commerce strategy, Razorfish; Kasey Lobaugh, principal and chief retail innovation officer, Deloitte Consulting; and Matthew Kaness, chief strategy officer, Urban Outfitters.

It seemed like everyone had a take on President Barack Obama’s big climate change speech this week and among them was Wal-Mart Stores, Inc., president and CEO Mike Duke.

Walmart had a comment from Duke ready to go less than an hour after the President concluded his remarks on Tuesday at Georgetown University. As expected, Duke applauded the president and his administration for their commitment to renewable energy and conservation and then piggybacked on the speech to tout Walmart’s own accomplishments and commitment to the renewable energy and conservation.

Expectations are high that Walmart will accelerate expansion of its small format Express stores when 2014 capital expansion plans are announced this fall. If that’s the case, the company will be entering a crowded landscape.

Already, Dollar General, Family Dollar and Dollar Tree stores operate upwards of 20,000 units with considerable overlap. Now, new data out this week shows the number of units operated by traditional convenience store retailers, especially the well-capitalized operators of larger format C-stores, continues to grow.

OMAHA, Neb. — Overall sales growth in ConAgra Foods’ consumer foods segment nourished the company’s results for the fiscal 2013 fourth quarter ended May 26. 

The company’s consumer foods segment, which includes specialty potato, seasonings, blends, flavors, and milled grain products, posted sales of $2.3 billion for the quarter, an increase of 7% from $2.1 billion for the quarter last year. Its operating profit was $291 million for the quarter, an increase of 8% from $270 million for the quarter last year, while sales increased 7%.

Paula Deen fell from grace this week faster than a slab of butter melting in one of her opening price point pans Walmart no longer sells.

Walmart, as well as Home Depot, Target and Smithfield Foods, sought to distance themselves from Deen after racist comments she made during a deposition came to light and she was canned by the Food Network.

The Pinnacle Country Club in Rogers, Ark. hosted the Walmart NW Arkansas Championship presented by P&G last week, and this week the golf tournament gave regional charity Cancer Challenge its largest gift ever.

In honor of its 20th anniversary this week, the Cancer Challenge received a $100,000 contribution from Walmart NW Arkansas Championship presented by P&G.

OMAHA, Neb. — Oriental Trading Company, a direct retailer of value-priced party supplies, arts and crafts, toys, novelties and school supplies owned by Warren Buffett’s Berkshire Hathaway, has acquired brainy toy manufacturer MindWare Holdings.

MindWare is a manufacturer, wholesaler and direct retailer of what it describes as “brainy toys for kids of all ages,” based in Minneapolis, Minn. Oriental Trading Company is headquartered in Omaha, Neb. 

Americans' affinity for guns and ammunitions — especially among those anxious about a perceived diminishment of ownership rights — was on display this week as Smith & Wesson Holdings reported record sales and profits.