Corporate Governance

Walmart has announced plans to launch a smartphone trade-in program on the same day Apple announced the iPhone 5s, featuring an all-new A7 chip and a 64-bit desktop-class architecture for fast performance, as well as the iPhone 5c, which builds on the iPhone 5 and comes in five different colors. 

Dayton, Ohio -- Retail design and brand strategy firm Interbrand Design Forum, the retail division of Interbrand, said it has hired Dirk Defenbaugh as managing director.

Oak Brook, Ill. - McDonald's Corporation reported increased same-store sales in all but one segment during August 2013. Same-store sales increased 0.2% in the U.S. compared to the same month in the previous year, and also grew 3.3% in Europe and 1.9% globally.

However, same-store sales in Asia-Pacific, Middle East and Africa (AMPEA) declined 0.5%. McDonald’s cited negative sales results in Japan and China, partially offset by positive results in many other markets and the shift in timing of Ramadan. Systemwide sales improved 2.8%.

HOFFMAN ESTATES, Ill. — Kmart has launched a low-cost check-cashing service for Shop Your Way members at stores nationwide. 

Los Angeles -- Grocery chain Fresh & Easy confirmed reports that its British parent Tesco LLC has sold the brand to private equity firm The Yucaipa Cos., following months of uncertainty about the 200+-unit chain’s future.

Fresh & Easy posted on its website Tuesday that more than 4,000 jobs would be saved under the purchase agreement but that some stores will be closing. Specific stores have not been identified, and the terms of the agreement weren’t disclosed.

An article that recently caught my eye adds more evidence to my growing suspicion (and I know I am far from alone in this) that the near-term to mid-term retail outlook might not be quite as positive as we may have thought just a few months ago. The piece, “Gap Stands out Among Retailers in Tough Quarter,” in Women’s Wear Daily highlighted the sobering second-quarter numbers from a long list of big retail brands. As the title implies, Gap, Inc.

Fumbi Chima, Walmart VP of global technology services and strategic partnerships, has been elected to the World Affairs Council-Washington, D.C., board of directors.

Chima is responsible for Walmart’s vendor management office, project management office and its global technology services office in India, as well as the IT asset management team.

San Jose, Calif. — Togo’s Eateries has announced two multi-unit franchise agreements to develop 20 new restaurants in Oregon and California over the next several years.

Togo’s Franchisee Mark Fischer will open 10 restaurants in Portland, Ore., and 10 additional locations in Los Angeles County. The first will open in Portland in the first quarter of 2014.

Fischer and his parterns currently own and operate two California restaurants in Stockton and Tracy, Calif.