Corporate Governance

James Cordero, senior director of Walmart’s Smart Network, is among four new appointees to the advisory board of the Digital Signage Expo.

BY JASON OWEN

DALLAS — In the height of the one of the worst flu seasons in recent years, Kleenex is hand-delivering care packs to unsuspecting fans all across North America. Three fans will receive what could be the surprise of a lifetime.

BOCA RATON, Fla. — Office Depot announced that it has been recognized by DiversityBusiness.com, the nation's leading multicultural business-to-business website, as one of the “Top 50 Organizations for Multicultural Business Opportunities” for 13 successive years. Office Depot was ranked fifth on the list.

Companies on the "Div50" list are recognized for the volume, consistency, and quality of business opportunities granted to women- and minority-owned companies. 

Seattle -- Starbucks Corp. said its profit rose in its first quarter as customers spent more at its stores in the United States and Asia.

Starbucks earned $432.2 million in the quarter ended December 30, 2012, compared with $382.1 million in the year-ago period.

Revenue rose 11% to $3.8 billion, slightly below expectations.

The company reported that global same-store sales rose 6%. In Europe, the metric fell 1%. Americas’ comparable store sales grew 7%. Same-store sales in the China/Asia Pacific region grew 11%.

New Delhi -- An Indian official said Thursday that India’s Cabinet will investigate allegations that Wal-Mart Stores Inc. broke rules as it lobbied to make its retail market debut in the country.

According to Manish Tewari, information and broadcasting minister for India, the cabinet has authorized a retired judge to look into Wal-Mart’s lobbying disclosures and investigate whether any of the retailer’s activities broke Indian law.
     

Mooresville, N.C. -- Lowe’s Cos. Inc. said Thursday it has named Michael Jones chief merchandising officer, effective immediately. Jones was previously president of the North American and Latin American divisions of Husqvarna, an outdoor equipment manufacturer.

The retailer also announced that Stephen J. Szilagyi has been promoted to supply chain executive, from his current position as SVP distribution.

Boca Raton, Fla. -- Office Depot said Thursday it has extended its deadline for board nominations; the move comes after discussions with its largest shareholder Starboard Value were held.

The extension allows stockholders to nominate candidates until the close of business on Feb. 25.

Activist hedge fund Starboard has been pushing for changes at Office Depot, arguing that the company could improve profitability in part by reducing expense.

New York -- Ann Inc. said Thursday that actress Kate Hudson will continue her role as the face of Ann Taylor for its spring and summer 2013 campaigns.

However, said the retailer, this year Hudson's role will grow as both a design influence and charitable ambassador as well. For the summer collection, she will be developing a capsule collection for the brand. In addition, Hudson will join the Advisory Council for the company's ANNpower Vital Voices Initiative, a program that supports the empowerment of young women.

Chattanooga, Tenn. -- Mall owner CBL & Associates Properties said Thursday that, in 2013, it will complete multi-million dollar renovations at three major malls: Friendly Center in Greensboro, N.C.; Greenbrier Mall in Chesapeake, Va.; and The Mall of Acadiana in Lafayette, La.

London -- Three cities in Germany are ranked the top five European markets for commercial real estate investment, according to a report by the Urban Land Institute (ULI) and PricewaterhouseCoopers (PwC).

Munich took the top spot in the report, “Emerging Trends in Real Estate Europe 2013,” followed by Berlin, London, Istanbul and Hamburg. The ranking of 27 cities across Europe was based on respondents’ expectations for market performance in 2013.