Corporate Governance

The Global Reporting Initiative bestowed its highest accolade on Kimberly-Clark’s 2011 sustainability report.

Casual Male accelerated the rollout of its DestinationXL format.

New York -- According to multiple reports citing anonymous sources, Restoration Hardware chairman and co-CEO Gary Friedman has stepped down after an internal investigation into a relationship he had with a 26-year-old female employee.

Friedman was confronted with findings that he had had an intimate relationship with the employee, who has since left the company. To look into the matter, the board of directors formed a special investigative committee and brought in an outside law firm to conduct the inquiry.

New York -- The New York Times reported Thursday about Allen Questrom’s on-air visit with CNBC for its Fast Money Halftime Report, during which the former J.C. Penney CEO was very candid about his disapproval of new chief Ron Johnson’s approach to leadership.

Birmingham, Ala. -- Hibbett Sports reported Friday that net income for the quarter ended July 28 surged 32.9% to $7.9 million from $5.9 million in the comparable-year period.

The retailer reported a net sales increase of 8% to $165.4 million compared with $153.1 million for the same period last year. Same-store sales increased 4.8%.

The company increased its earnings guidance for fiscal 2013 and said it is on track to open 55 to 60 new stores, expand approximately 15 high performing stores and close up to 18 underperforming stores.

Nashville, Tenn. -- Kirkland reported Friday a loss of $2 million in the second quarter, widened from a loss of $480,000 in the year-ago period. Revenue edged up 1% to $91 million, missing Wall Street’s expected $94.4 million in revenue.

Same-store sales declined 3.6%.

The retailer has cut its earnings and revenue outlooks for the year.

New York -- Ann Inc. reported Friday that profit for the second quarter rose 24% to $30.7 million, compared with $24.8 million in the year-ago period.

Same-store sales companywide increase 4.7%; by brand, Ann Taylor store comps increased 3.2% and Loft comps rose 4.1%.

The company raised its outlook for the full year of fiscal 2012, and also said that it is on track to open approximately 65 new stores this year, partially offset by the impact of downsizes at Ann Taylor stores and approximately 30 store closures. 
 

Canton, Mass. -- Casual Male Retail Group said Friday that second-quarter profit dropped to $1.2 million, from $6.6 million in the year-ago period. Total sales were flat at $100.5 million, and same-store sales edged up 2%.

However, continuing strength from the DestinationXL stores vs. the Casual Male XL locations is prompting the company to focus on growing the former.

New York -- Foot Locker reported Friday that net income for the quarter ended July 28 rose to $59 million, from $37 million last year.

Sales increased 7.2% to $1.37 billion this year, compared with $1.27 billion in the prior year. Same-store sales increased nearly 10%.
 

Canton, Mass. -- Dunkin Brands said Friday it has launched its first-ever mobile app for payment and gifting purposes.

The app for iPhone, iPod touch or Android smartphone will allow users to pay food, beverages, and merchandise at Dunkin’ Donuts restaurants throughout the U.S. by scanning a device in-store or at the drive-thru.

Additionally, an mGift feature will enable consumers to send virtual gift cards three ways – text, email, and Facebook Connect.