Corporate Governance

Bentonville, Ark. -- Wal-Mart Stores on Thursday reported profit and sales that were just below Wall Street expectations as the giant retailer struggled with a number of issues that impacted its U.S. sales, from the payroll tax increase to an unseasonably cold spring to delayed tax returns. The discounter also scaled back its earnings expectations for the current three-month period.

Wal-Mart’s net income rose 1.1% to $3.8 billion. Revenue edged up 1%, to $113.4 billion.

BENTONVILLE, Ark. — Same store sales at Walmart's U.S. stores declined 1.4% in the first quarter, but the retailer forecasts comps should rebound during the second quarter. 

Sales were just below Wall Street expectations as the giant retailer struggled with a number of issues that impacted its U.S. sales, from the payroll tax increase to an unseasonably cold spring to delayed tax returns. The discounter also scaled back its earnings expectations for the current three-month period.

ECRM compared retail circular advertising in April 2012 vs. April 2013 and noticed some common overall trends across top retail chains.  While looking at the data, the biggest change from April 2012 to April 2013 came from Lowe’s Home Improvement.

Kohl's Corp. reported a 5% drop in first-quarter profit on weak sales due to unseasonably cold weather in large parts of the United States.

Kohl's net income fell to $147 million in the quarter ended May 4, down from $154 million a year earlier.

Sales fell 1% to $4.2 billion. Comparable-store sales fell 1.9%.

HUDSON, Ohio — Jo-Ann Fabric and Craft Stores plans to honor past and present members of the armed forces with its Military Discount Days — a four-day, in-store-only event Memorial Day weekend.

Known for its “World Famous Almond Toffee,” Enstrom Candies is featuring three new flavors in a new impulse product line, featuring bite-size toffee for wholesale distribution.

JACKSONVILLE, Fla. — Body Central Corp., a multichannel, specialty retailer that offers on-trend apparel and accessories at value prices, has appointed Donna R. Ecton as non-executive chairman of the board. Ecton has been a director of Body Central Corp. since May 2011.

CINCINNATI — Kroger corporate officer and SVP for human resources Kathleen Barclay was among 10 women named a YWCA Career Woman of Achievement. 

"I am honored and humbled to receive this recognition from the YWCA, a truly exceptional organization in Cincinnati and across the country," said Barclay. "I am grateful to work in an industry that provides the incredible opportunity to touch the lives of a very large group of women inside and outside our company, each and every day."

TEMPE, Ariz. — Walmart has opened a new small-format store on the campus of Arizona State University as part of a pilot program.

The company announced its plans to open the 5,000-sq.-ft. store in the Vista del Sol plaza at the university in late March of this year. The store includes health and wellness services, a pharmacy, convenient shopping services, convenience items and merchandise tailored to the campus. The Walmart on Campus store is the second in the country, the first having opened at the University of Arkansas in Fayetteville in January 2011.

FORT WORTH, Texas — RadioShack has partnered with Maker Media, the creators of Make Magazine, Makezine.com, and Maker Faire, to tap into the DIY market. Maker Media and RadioShack will collaborate on an expansive DIY product lineup, exclusively carried at RadioShack and Maker Shed, including kits, robotics and tools.