Corporate Governance

If the economy is improving someone forgot to tell Office Depot’s customers. The company reported a third quarter loss of $70 million loss on sales that declined 5% to $2.7 billion.

TORONTO — Ahead of its 2013 debut, Target is building its presence in Canada with a new partnership with the Toronto Fashion Incubator for the annual TFI New Labels Fashion Design competition celebrating and supporting up and coming Canadian designers. 

The winner will receive $25,000 and the chance to create an exclusive collection to be sold in Target stores across Canada in 2014.

Third quarter sales at OfficeMax declined 1.7% to $1.74 billion and same store sales dropped 2.1% due to weak demand for office products.

WOONSOCKET, R.I. — Coming off a strong third quarter, CVS Caremark executives expressed confidence that the company’s integrated retail/pharmacy benefit manager model and the unique programs and services it is able to deliver customers and clients are “making the difference,” president and CEO Larry Merlo told analysts during a Tuesday morning earnings call.

UNION BEACH, N.J. — In partnership with the American Red Cross, beginning Nov. 6, the P&G Mobile Relief Center will be stationed in Union Beach, N.J., to provide showers, personal care kits, household products — including Bounty, Charmin, Tide and Dawn — and baby products, including Pampers diapers and wipes, to victims of Hurricane Sandy, Procter & Gamble announced Monday. This service will be free to all victims, responders and their families.

NEW YORK — Beauty company L'Oréal Paris has recognized the charitable work of 10 women — including Montgomery County district attorney Risa Vetri Ferman, the cofounder of Mission Kids Child Advocacy Center — by distinguishing them as "Women of Worth" and giving them $10,000 each for their individual charities.

Atlanta -- Shapewear hosiery marketer Spanx has opened its first standalone location, a 1,200-sq.-ft. store in Tysons Corner Center in McLean, Va.

"With a growing product collection and fan base, our own dedicated space was inevitable,” said Spanx CEO Laurie Ann Goldman.

Two additional stores are set to open this fall, in King of Prussia, Pa., and Westfield Garden State Plaza, Paramus, N.J.

Dallas -- Neiman Marcus Group said Tuesday it has launched international shipping and payment options for online sales via a relationship with global e-commerce expansion platform FiftyOne Global Ecommerce.

The move will allow Neiman, which has only a domestic bricks-and-mortar presence, to expand its online reach to 100+ countries. It kicks off with a promotional flat-rate shipping offer on all international purchases through Dec. 10.

New York -- Cache reported Tuesday a loss of $6.4 million for the quarter ended Sept. 29, widened from a loss of $1.8 million in the year-ago period.

Sales dropped 5.9% to $45.8 million, and same-store sales declined 2.9%.

The retailer is currently on a hunt for a new president.

Atlanta -- Aaron’s said Tuesday it is opening five of its lease-to-own stores in the Midwest, south and on the East Coast.

From mid October to early November, Aaron's stores have opened in Delaware, Ohio; Ionia, Mich.; Franklin, Ky.; Indianola, Miss., and Towson, Md.

In September, the company opened its 2,000th store – located in the Bronx, N.Y.