Corporate Governance

Speaking at The Home Depot’s 2012 Investor and Analyst Conference in Atlanta, Home Depot EVP merchandising Craig Menear revved up the power tool rhetoric.

Menear said the company intends to defend its position as power tool market share leader.

He also described power tools as a category with a relatively high vulnerability to online competitors. One of the best defenses is a large fleet.

MOORESVILLE, N.C — Through its charitable and educational foundation, Lowe's has awarded more than $2.3 million in Spring 2012 Lowe’s Toolbox for Education grants to 543 schools in 47 states throughout the nation. The grants were given to schools and parent organizations for parent-initiated school-improvement projects benefiting K-12 public education.

The projects funded during the spring grant period include technology and safety improvements, library renovations, walking trails, greenhouses, outdoor learning environments and more.

CINCINNATI — Macy's Inc. has invested in the future of America, by hiring more than 1,000 college and university students for its Executive Development Program and for summer internships nationwide.

Duckwall-ALCO Stores on Friday reported a 1.7% first quarter same-store sales increase that was regarded as an improvement for the company, but light relative to figures posted by retail leaders.

New York -- Private equity firm Madison Dearborn Partners has purchased Things Remembered from Bruckmann, Rosser, Sherrill & Co. (BRS) and GB Merchant Partners for $295 million.

New York -- Toronto has become the first major city in Canada to ban the use of plastic shopping bags.

The ban was passed by the city council in a surprise move that Toronto Mayor Rob Ford denounced as “ludicrous,” The Globe and Mail reported.

The vote bans plastic bags, including biodegradable ones, from Toronto vendors starting in 2013. But the mayor predicted the ban will face a legal challenge.

New York -- Bob Evans Farms Inc. plans to remodel 150 restaurants to its “Farm-Fresh Refresh” format in its current fiscal year. The remodels will include 40 sites in the Columbus, Ohio, market in the first quarter.

In its recently completed fiscal 2012, the chain remodeled 87 locations, with sales up 5% in the updated restaurants compared to the rest of the chain, executives said on the company’s fourth-quarter conference call.

Birmingham, Ala. -- Hibbett Sports announced that Scott J. Bowman has joined the company as senior VP and CFO effective July 9. He will replace Gary Smith, whose retirement is effective July 8, 2012.

Bowman was most recently division chief financial officer – Northern Division for The Home Depot, a position he has held since 2006.
 

Bentonville, Ark. -- Walmart is piloting a test program with En-Vision America to offer ScripTalk, a talking prescription system that provides those who cannot read standard print a safe and easy way to access the information on their prescriptions. ScripTalk is currently being offered to customers with visual impairments across the country through Walmart Mail Order and in three Walmart test stores. The program is free to Walmart pharmacy customers who are blind or visually impaired.

New York -- The Fisher family, the founders of Gap Inc. have acquired a stake in high-end riding-gear and apparel company Ariat International Inc.

The Fisher family, along with Ariat management, purchased the firm from LNK Partners and Brentwood Associates. Terms of the sale were not disclosed.