Corporate Governance

Two of Staples' senior most executives were given new responsibilities to bolster the company’s re-invention efforts and competitive posture in a market that has become more challenging with the addition of a newly merged Office Depot and OfficeMax.

Cary, N.C. – The Pantry, Inc. reported a net loss of $5.1 million in its first quarter of fiscal 2014, up from a net loss of $3.1 million the first quarter of the prior fiscal year. Revenues fell 5% to $1.8 billion from $1.9 billion, although same-store sales rose 3.5%.

Wayne, N.J. – Toys “R” Us is launching a nationwide in-store and online awareness campaign encouraging its customers to support the athletes participating the Special Olympics. Starting Feb. 1, by texting "Cheer" to 80888, customers can make a $5 donation via their mobile device that will help Special Olympics athletes.

Intrix Technology, a leading payment processor, has named Peter N. Matino as chief sales officer, a newly created position.

In his new role, Matino is responsible for building a nationwide sales organization and executing an integrated sales strategy as well as developing and executing corporate marketing strategies.

Philadelphia – Destination Maternity reported improved net income but lower net sales during the first quarter of fiscal 2014 as compared to the same period a year earlier. Net income totaled $4.25 million, up 11% from $3.84 million the same period a year earlier.

Seattle -- Starbucks Coffee Company has announced a new leadership structure that it says positions the company to leverage its assets and operations, and gain maximum benefit from the retail, consumer, mobile and digital shifts currently underway in the global marketplace.

Walmart Supercenters in California benefit communities by supporting additional job creation, small business growth and more robust sales tax revenues, according to a new economic impact report.

The study was conducted by economist Lon Hatamiya of the Hatamiya Group and the results were announced by Walmart, which is sure to cause opponents of the company to question the validity of the results. That said, key findings of the study show the following:

San Francisco -- The trend of companies adopting recurring revenue surged in 2013, with brand names using new billing and pricing models to grow sales and deepen customer loyalty. Recurring revenue technology provider Aria Systems projects this surge will continue in 2014 as more companies adopt recurring revenue models because of their flexibility and convenience for customers.