Corporate Governance

Atlanta -- The Home Depot reported net earnings of $1.4 billion for the third quarter of fiscal 2013, up 48% from $948 million in the same quarter of the prior fiscal year.  The retailer raised its 2013 forecast for the third time this year amid rising home prices.

"Our third quarter results reflect the continuing improvement in the housing market and our solid operational performance," said Frank Blake, chairman & CEO.

Kroger announced its succession plan for secretary and general counsel. Paul Heldman, 62, a 31-year Kroger veteran who has been serving as the company's general counsel since 1989, secretary since 1992 and EVP since 2006, plans to retire in spring of 2014.

Cincinnati -- The Kroger Co. announced its succession plan for secretary and general counsel.

Paul W. Heldman, 62, a 31-year Kroger veteran who has been serving as the company's general counsel since 1989, secretary since 1992, and executive VP since 2006, will retire in the spring of 2014.

RadioShack has announced the retirement of Thomas G. Plaskett from the company's board of directors. Plaskett had served on the RadioShack board since 1986, and was a member of the audit and compliance committee as well as the corporate governance committee.

His retirement is effective immediately, and the company intends to begin a search for a new independent director to fill his board seat.

Sears Canada said a one-time charge of $41 million related to restructuring and asset impairment affected its third quarter results, which resulted in a net loss of about $46.7 million USD — more than double the net loss of $21 million it posted in the same quarter of the previous fiscal year.

In addition, revenues of $940.7 million were down about 6% from $1 billion. In one bright spot, same-store sales climbed 1.2%. Sears Canada is in the middle of a three-year turnaround program launched in 2012.

Fort Worth, Texas -- At the conclusion of the current fiscal year on December 31, RadioShack will align its fiscal year-end to a traditional 52-week retail calendar with the fiscal year ending on the Saturday closest to January 31st. RadioShack says this is the format used by the majority of retailers today.

Plymouth, Minn. -- The Shareholders Foundation, Inc. has filed a lawsuit on behalf of certain purchasers of Tile Shop common stock over alleged violations of federal securities laws in connection with certain allegedly false and misleading statements made between August 22, 2012 and November 13, 2013. The plaintiff alleges that the defendants failed to disclose that one of its largest suppliers, Beijing Pingxiu, is an undisclosed related company secretly controlled by Fumitake Nishi, the brother-in-law of the company's CEO and a Tile Shop employee.

Electrolux has named former Sears executive Nolan Pike as SVP and GM of its North American cooking business.

Pike most recently worked for Sears as their Kenmore brand VP and GM and as the top merchant for Sears Home Appliances, the nation’s largest appliance retailer. Additionally, Pike spent many years in manufacturing and led the development, launch and product management of several notable cooking lines.