Corporate Governance

Plano, Texas -- Charlotte, N.C.-based Versona Accessories said it will open a new store on May 24, in Plano, Texas, at Preston Park Village.

The jewelry and accessories retailer is a Cato Corp., concept.
 

Wal-Mart Stores fell to the number two spot on the Fortune 500 list after holding the number one spot for two years. It was ousted by Exxon Mobil, which benefitted from rising oil prices.To see the full list, click here.

Ever wonder what the difference was between a consumer and a shopper, but were afraid to ask at the risk of a marketer spewing more jargon. Good news. Turns out consumers and shoppers are pretty much the same and have been all along.

Walmart’s view of the shopper is a whole lot clearer now that the company has resumed sharing point-of-sale data with the likes of Nielsen, SymphonyIRI Group and NPD. No wonder chief merchant Duncan Mac Naughton and consumer insights head Cindy Davis expect good things to happen.

AUSTIN, Texas — Whole Foods is rewarding customer that live a green lifestyle through its new app it created with Whole Planet Foundation and BlueAvocado.

DALLAS — The Texas Diversity Council on Wednesday commended the Army and Air Force Exchange Service for its commitment to diversity and inclusion.

AAFES’s COO, Mike Howard, was one of two 2012 winners of the Champions Diversity Leadership Award at the council’s annual Diversity and Leadership Conference. Howard was recognized for being a visible champion of diversity and inclusion not only at AAFES, but the community as well.
 

GRAPEVINE, Texas — Ahead of releasing its first quarter results, GameStop said earnings for the quarter were 54 cents per share and that same-store sales fell 12.5%. According to the company, this drop in same-store sales is due to light demand for “AAA” game launches and slower than expected store traffic during the quarter.

The company has reaffirmed its full year earnings per share guidance of $3.10 to $3.30. 

LITTLE ROCK, Ark. — Dillard’s net income for the quarter ended April 28 rose to $95 million, from $76.7 million in the year-ago period, setting a company record for profit increases.

Sales rose to $1.55 billion, from $1.47 billion. Same-store sales climbed 5%, the department store retailer’s seventh consecutive quarter of comp increases.

Dillard’s said it saw its greatest strength in the first quarter from the central region of the United States, followed by the eastern and the western regions.
 

ISSAQUAH, Wash. — Costco announced that its board of directors declared a quarterly cash dividend on Costco common stock and approved an increase from 24 cents to 27.5 cents per share, or from 96 cents per share to $1.10 per share on an annualized basis.

The quarterly dividend is payable June 8 to shareholders of record at the close of business on May 25.

Costco plans to release its operating results for the third quarter, ended May 6, on May 24.
 

Minneapolis -- Best Buy Co. announced that founder Richard Schulze would step down as chairman after an independent board investigation found that he had failed to report allegations of personal misconduct by former CEO Brian Dunn to the board's audit committee.

Schulze will serve out the remainder of his term as director. Best Buy said its board has elected director Hatim Tyabji to succeed Schulze as chairman, effective at the conclusion of the annual meeting on June 21.