Corporate Governance

Walmart president and CEO Mike Duke frequently asserts no other global retailer is better positioned than Walmart, and it is easy to see why he holds that view especially when compared with the situation at the world’s second largest retailer.

Seattle -- Starbucks will open its largest location in Europe, in the center of Amsterdam, on March 9. The 4,500-sq.-ft. store is located in the vault of the historic Amsterdamsche Bank, a landmark building on Amsterdam’s famous Rembrandt Square.

New York -- The Denmark-based Lego group will open a Lego store in Atlanta on March 16.

The new store will be located in the Discover Mills outlet center. The space will feature such elements as a “Pick-A-Brick-Wall,” allowing shoppers to select and purchase specific individual Lego bricks in a variety of colors and shapes.
 

New York -- Belgian supermarket operator Delhaize Group said that its fourth quarter net profit dropped 48%, hurt by impairments resulting from its restructuring. It also announced that Mats Jansson will be the new chairman of the board, and that Pierre Bouchut will succeed Stefan Descheemaeker as CFO, effective March 19.

The company, whose U.S. holdings include the Food Lion, Hannaford Bros. and Sweetbay banners, said it will accelerate the revamp of its stores in the United States and Belgium to increase its competitiveness.

San Francisco -- Williams-Sonoma Inc.’s fiscal fourth-quarter net income rose 8%, boosted by strong performances from its Pottery Barn and West Elm brands. The company also announced that COO and CFO Sharon McCollam, 48, has retired.

Although the home-furnishings retailer’s results beat Wall Street estimates, it offered fiscal 2012 earnings guidance that was slightly below what analysts expect. Its revenue forecast for the year was above analysts' estimates.

New York -- Women’s apparel retailer Maurices plans to open approximately 60 stores this year, according to the Duluth News Tribune. The total includes the chain’s first international location, in Canada.

Maurices currently has 803 stores in 44 states, with the count up 32 stores since June.
 

Jacksonville, Fla. -- Stein Mart Inc. reported Thursday that its net income fell to $5.7 million for the fiscal fourth quarter, down from $18.8 million last year. The chain said it was returning to its strategy of emphasizing everyday low prices after heavy coupon promotions took a toll on the retailer's financial performance during the past year.

Revenue for the quarter ended Jan. 28 was down nearly 3% to $328.1 million, from $336.7 million. Same-store sales were down 2.2%.

New York -- Washington state opened a public auction online Thursday of its state-run liquor stores, beginning the process of privatizing an industry the state has tightly controlled since the end of Prohibition, the Associated Press reported.

The minimum bid is $1,000, and within hours, more than 30 bidders had entered the fray, the report said. Some were looking to buy rights to all of the stores, while the majority bid on individual store locations.

Staten Island, N.Y. -- Celerant Technology has acquired CAM Commerce Solutions, a subsidiary of Robertson Piper Software Group (RPSG) and a well-known East Coast-based retail software provider. CAM provides services for small to mid-size retailers across a variety of vertical markets.

New York -- TradeCard, a supply chain collaboration and global trade platform, announced that women’s apparel retailer MS Mode has successfully deployed TradeCard to eliminate costs and improve efficiencies in its global supply chain.

The TradeCard solution allows MS Mode to transition away from agents and handle sourcing in-house without increasing overhead.