Corporate Governance

New York – Barnes & Noble is releasing an updated Nook App for Windows 8 with a new user interface, faster performance and features including highlighting, annotations, dictionary lookup, find in books, improved shop and search functionality, and the ability to sideload ePub and PDF files from local drives.

New York – Investment firm Starboard Value, a shareholder in Office Depot, is foregoing a preliminary consent solicitation it filed against Office Depot in April in light of an order by the Delaware Chauncery Court for Office Depot to hold its annual meeting. Starboard Value had been pressing Office Depot to hold its annual meeting and commenced a consent solicitation to remove several existing directors in favor of Starboard's nominees.

New York – Closing arguments for the lawsuit Macy’s filed against JC Penney and Martha Stewart Living Omnimedia last year are scheduled to commence Aug. 1, according to a report in Reuters. The suit claims a December 2011 agreement to create Martha Stewart boutiques in JC Penney stores violated Macy’s exclusive right to sell Martha Stewart Living products.

Seattle – Starbucks has enacted small increases in the prices of less than one-third of its beverages in select markets. The increases, which average about 1%, affect smaller sizes of brewed coffee, tea, latte and espresso drinks. Larger venti- and grande-sized drinks will not have their prices changed.

SEATTLE — Nordstrom has appointed Intuit president and CEO Brad Smith to the company’s board of directors. 

His addition brings the total number of directors to 12, 9 of whom serve as independent directors. Nordstrom directors serve one-year terms and the company requires annual elections of all board members.

Smith was named president and CEO of Intuit in January 2008, culminating a five-year rise through the company where he led several of its major businesses. 

American’s demand for guns outstripped supply during the fourth quarter at Smith & Wesson Holdings, where ramped-up production produced a 37.6% sales increase.

MINNEAPOLIS — General Mills saw growth for the fourth quarter and full fiscal year ended May 26, thanks to new product offerings as well as established product lines.

The company reported net sales of $17.8 billion for fiscal 2013, an increase of 7% from 16.7 billion in fiscal 2012. 

JACKSONVILLE, Fla. — Stein Mart’s interim CEO Jay Stein has been named CEO. 

"It has been my pleasure to return and lead Stein Mart after nearly two years as interim CEO. Working side-by-side with our wonderful leadership team, we are now enjoying these great results," said Stein. "This is an important time in our company's history and I am very happy to be part of this great organization."

WASHINGTON — The National Retail Federation told a congressional panel that retail and chain restaurant companies continue to have serious concerns about the Affordable Care Act and remain worried by the quickly approaching deadlines for full health care reform implementation, anticipated for January 2014.

Sales in the convenience store industry advanced 2.7% during 2012, well below a prior year gain of 18.5%, as meaningful economic growth hampered results.