Corporate Governance

Boca Raton, Fla. -- Office Depot reported Tuesday that it lost $64.3 million in the second quarter, widened from a $29.3 million loss in the same period last year.

Weakened sales in North America and Europe, along with a $23.9 million impairment charge and other restructuring charges, contributed to the weakened performance.

Revenue dropped 7% to $2.51 billion, compared with $2.71 in the year-ago period and missing analysts’ expected $2.6 billion in revenue. Sales in North America fell 8%, and same-store sales dropped 4%.

Hong Kong -- Esprit Holdings Limited said Tuesday it has named Jose Manuel Martínez Gutiérrez as its new group CEO and executive director, effective September.

Martinez was previously group director of distribution and operations for Inditex. Prior to that, he was the country manager for the Zara brand across Scandinavia.

He succeeds Ronald Van Der Vis.

Hingham, Mass. -- Private equity firm Sycamore Partners, which has wrapped up its $391 million acquisition of The Talbots, appointed Michael Archbold, formerly president and COO of Vitamin Shoppe, as CEO and CFO of Talbots. Archbold, who also served as executive VP and CFO of Saks Fifth Avenue, replaces Trudy Sullivan, who resigned from the CEO’s job after Sycamore completed its acquisition of Talbots late last week.

By Merrick Theobald, [email protected]

LOS ANGELES — Sears is offering customers who want to save and donate to a good cause the chance to do both on Aug. 11, with its "Super Back-to-School Saturday" event. On this day only, Sears will donate up to $70,000 of all apparel, footwear and fine jewelry purchases made using a downloadable 15% off savings pass, both in-store and online. Donations will directly benefit charities affiliated with Sears' Team Up to Stop Bullying, an initiative designed to bring solutions quickly and effectively to victims, families, educators and communities.

PARSIPPANY, N.J. — Post Foods has launched PostGoodness.com, a social website dedicated to positivity and simply helping others have a great day. PostGoodness.com will serve as a community, connecting users through good news and inspiration. People are invited to log on daily to share their good intentions or thoughts of motivation to help to set them on the right track for the day.  Each time someone shares his or her good intention, it will be added to a dynamic grid, inviting "likes", comments, support and shares from other users.

NORTH BERGEN, N.J. — The Vitamin Shoppe announced that Stephen Bontempo has joined the company.

Bontempo, who previously served as SVP e-commerce and catalog for Fanatics Inc./GSI Commerce, has become VP e-commerce for the Vitamin Shoppe. He will report to chief marketing officer Lou Weiss.

"Having someone of Stephen's caliber is another way we continue to strengthen the leadership team," Vitamin Shoppe CEO Tony Truesdale said. "We're pleased to have him join The Vitamin Shoppe family."
 

NEW YORK — Damco announced it has been named a 2012 Partner in Transformation for Sears Holdings Corp. in recognition of its innovative contributions to Sears. Damco is a leading third-party logistics provider specializing in customised freight forwarding and supply chain solutions.

Sears grants the Partners in Transformation award to a select group of supplier companies who have been helping support the transformation of the company through innovation around customers, core retail excellence and financial and operational discipline.

SALISBURY, N.C. — Food Lion customers can support their favorite schools when they participate in the MVP Classroom Rewards program.

When customers shop with their MVP Cards, a portion of their grocery bills spent only on qualified store brand products is automatically credited to the shoppers' local school of choice. Donations up to $2,500 will be distributed three times per year to schools in January, May and September.

NEW YORK — Harwood Feffer LLP, a law firm that represents investors and investment groups, announced that it is investigating potential claims against the board of directors of Best Buy, concerning whether the board is fulfilling its fiduciary duties to shareholders in connection with an offer from the company's founder and former CEO, Richard Schulze, to take the company private.