Corporate Governance

Home Depot announced that it has reached a tentative agreement in March to settle California lawsuits related to the sale of paints and coatings.

The company's recent 10-k filing with the Securities and Exchange Commission report followed up on 2010 allegations that the retailer sold products in three California counties and Los Angeles that exceeded the level of VOCs (volatile organic compounds) under the rules of the South Coast Air Quality Management District.

EVANSVILLE, Ind. — Quarterly net earnings at Shoe Carnival fell to $3.2 million, compared with $3.3 million in the year-ago period.

Revenue rose 13.1% to $205.7 million from $181.9 million, and same-store sales edged up 0.5%.

For the full year, profit rose to $29.3 million from $26.4 million, sales increased 12.1% to $855 million, and same-store sales advanced 4.5%.

In fiscal 2013, the company said it expects to open 30 to 35 new stores, relocate seven stores and close five to seven stores.

Food Lion store manager Charles Inman received the retailer’s highest honor this week and offered yet another example of the growth potential the retail industry offers.

Inman joined Food Lion in 2002 as a cashier and over the years held positions of increasing responsibility, including produce manager, office manager and assistant store manager.　He was later promoted to store manager and was recently selected from among a group of 1,119 store managers to receive the retailer’s Store Manager Excellence Award.

Staples named former Walmart.com CEO Raul Vasquez to serve on its the board of directors.

Vazquez currently serves as CEO and a director of Progreso Financiero, financial services firm focused on serving the needs of "under-banked" Hispanic customers. The election of directors at Staples will take place at the company’s annual meeting on June 3.

SALISBURY, N.C. — Food Lion has launched its "Hunger Has a Cure" campaign to support Feeding America and its network of local food banks. The two-week campaign, which allows customers to donate in $1 or $3 increments at the register, runs through April 16 and will help feed local families in need.

MINNEAPOLIS — Supervalu chief Sam Duncan continues to finalize his leadership team by naming Karla Robertson as EVP legal.

LOS ANGELES — The majority of Americans are planning to spend their tax refund. 

 According to PriceGrabber’s poll of 5,655 U.S. online shopping consumers, 24% anticipate a bigger refund than last year and 26% expect about the same amount. Thirty-two percent anticipate receiving less compared to 2012, and 18% aren't sure how much money they will receive.

New York -- Cache announced that Daphne Pappas has joined the company as EVP, chief merchandise officer. For the past 10 years, she served as VP general merchandising manager for Burberry America’s where she led the company’s women’s business.

Prior to Burberry, Pappas was the divisional merchandise manager of juniors sportswear at Macy’s East.

New York -- The Securities and Exchange Commission on Tuesday said that companies can social media platforms such as Twitter and Facebook to make significant announcements as long as they alert investors about which sites they plan to use for the disclosures.

New York -- Ahold USA, a division of Netherlands-based Royal Ahold, said six newly built stores had received LEED (Leadership in Energy and Environmental Design) certification from the U.S. Green Building Council. The locations include four stores in the Stop & Shop New England and New York Metro divisions, one in the Giant-Landover division and one in the Giant-Carlisle division.