Corporate Governance

Apparel manufacturer, VF Corp. reported that its fourth quarter 2012 revenues rose 4% (5% in constant dollars) to a record $3 billion from $2.9 billion in the same period of 2011 driven by strength in the outdoor and action sports and sportswear coalitions, and its international and direct-to-consumer businesses. The sale of John Varvatos in April 2012 negatively impacted VF’s revenue growth by 1 percentage point in the fourth quarter.

PLANO, Texas — Dr Pepper Snapple Group reported $629 million in profits for fiscal year 2012, up from $606 million in 2011, the beverage maker said Thursday.

Profits for the fourth quarter were $170 million, compared with $166 million in fourth quarter 2011, driven by fiscal year 2012 sales of $5.99 billion and fourth-quarter sales of $1.48 billion, compared with $5.9 billion and $1.46 billion in 2011, respectively.

Thought leaders from the supply chain world are scheduled to participate in a forward-looking event scheduled for April 11 in Northwest Arkansas.

The event is organized by the Supply Chain Management Research Center at the University of Arkansas and this year’s theme is, "Supply chains 2020: collaborating to win in an omni-channel world."

ATLANTA -- UPS has formed a strategic collaboration with Jabil Circuit. UPS’s logistics and distribution business unit and Jabil Aftermarket Services will provide optimized reverse logistics solutions for return and repair programs to high-tech original equipment manufacturers, service providers and enterprises on a global scale.

SUFFERN, N.Y. — Ascena Retail Group, a leading specialty retailer offering clothing, shoes, and accessories for missy and plus-size women and tween girls, under the Justice, Lane Bryant, maurices, dressbarn and Catherines brands, has named Ronnie Robinson to the position of president Ascena Global Sourcing (AGS).

NEW YORK — Jewelry maker Tiffany & Co. is suing Costco Wholesale, alleging that the club retailer falsely marketed diamond engagement rings as coming from the New York-based jeweler, according to published reports.

News media reported that Tiffany filed suit against Issaquah, Wash.-based Costco in the Federal District Court in Manhattan.

CHICAGO — Retail executives are moderating their expectations for 2013 following uneven sales in December and January, according to a new survey of CFOs by professional services form BDO USA.

New York -- Ralph Lauren Corp. will debut its Denim & Supply retail banner in the United States, opening a store in New York City this spring, according to WWD.com. It will be the first freestanding U.S. location for the brand, which features affordable price points.  

New York -- Analysts had already suggested that Wal-Mart Stores Inc. would report weakened sales in February, as its primary customer base felt the pinch of newly increased payroll taxes. But internal emails leaked to the press confirmed the impending bad news.
 
Bloomberg on Friday quoted an email generated by a Wal-Mart mid-level executive as saying that the retailer had the worst sales start to any month in seven years in February. Wal-Mart blames the slow start to the 2% payroll increase as well as on delayed tax returns.

New York -- A Friday report by Bloomberg said that Office Depot is considering selling the remaining 50% of its Mexican unit to Grupo Gigante SAB, which currently owns the other half.

Citing unnamed sources, Bloomberg reported that Grupo Gigante is in talks with local banks to fund the acquisition of Office Depot de Mexico.