Corporate Governance

Los Angeles - Sport Chalet said Tuesday it has launched its fourth-consecutive Treasure Hunt dive, which invites certified scuba divers to participate by diving to find six sunken treasure bars hidden in diving locations off the northern and southern California coasts and in a special marine destination in Arizona.

From June 25 to 18, Sport Chalet will release one clue every Tuesday and Thursday to help divers identify the secret locations of the six gold-painted treasure bars; clues will be posted online and in all participating Sport Chalet retail stores.

Bentonville, Ark. - Wal-Mart Stores announced Tuesday it has completed solar projects at eight Walmart stores and two Sam's Clubs across the state of Maryland that will generate clean, renewable electricity.

New York - A report released by Bloomberg on Tuesday said that confidence among American consumers in June surpassed expectations, climbing to the highest level in more than five years.

The Conference Board’s index rose to 81.4, beating Bloomberg forecasts of 75.1 and reaching the highest point since January 2008. The index reached 74.3 in May. 

Fremont, Calif. – In another twist to the ongoing Men’s Wearhouse-George Zimmer saga, Reuters reports that Men’s Wearhouse founder and former executive chairman Zimmer is contemplating trying to recapture his position as executive chairman through such means as a buyout attempt with private equity backing or rallying the support of shareholders. Neither Zimmer nor Men’s Wearhouse has officially commented, but Zimmer is reportedly consulting advisers, including his legal counsel, Cooley LLP.

Deerfield, Ill. – Walgreens posted gains in sales and earnings during its fiscal third quarter 2013, but still came in below the expectations of Wall Street analysts. Earnings rose 16% to $624 million from $537 million in the third quarter of fiscal 2012. However, excluding certain items, analysts had expected earnings of close to 30 cents a share higher for the quarter.

New York – Barnes & Noble reported disappointing financial results for the fourth quarter and full fiscal year 2013. During the fourth quarter, Barnes & Noble reported a net loss of $122 million, significantly more than the net loss of $9.7 million reported in fourth quarter 2012. For the full fiscal year, the retailer posted a net loss of $154.8 million, compared with a net loss of $56.9 million the prior fiscal year.

NEW YORK — Beauty brand Coty has promoted Stephen Mormoris to the position of SVP, global marketing American fragrances, Coty Prestige. Additionally, Johanna Businelli has been promoted to the newly created position of SVP, color cosmetics, Coty Beauty.

PARIS — Louis Vuitton has tapped billionaire heiress Delphine Arnault as the company’s EVP. As the second in command, the daughter of LVMH CEO Bernard Arnault will oversee all product-related activities of the Louis Vuitton House.

CONCORD, Mass. — Welch’s brought in food historian and Food Network star Alton Brown to celebrate Ephraim Wales Bull, the man who grew the first Concord grape in the mid-19th century.

In a ceremony at the company’s new headquarters in Concord, Mass., Welch’s and Brown honored Bull with the dedication of a freshly planted vineyard, grown from his original Concord grapevine, cultivated more than 160 years ago.

ATLANTA — The HoneyBaked Ham Company is gearing up for aggressive growth in the Northeastern U.S., and plans to sign more franchise deals in areas where demand for the brand is growing.