Corporate Governance

London — The International Council of Shopping Centers’ executive committee has elected Marcus Wild, CEO of SES Spar European Shopping Centers, as divisional VP for the association’s European division.

Issaquah, Wash. -- Costco Corp. reported Thursday that net income for the quarter ended May 12 increased a higher-than-expected 19% on increased sales and member fees. The wholesale club operator earned $459 million in the third quarter, up from $386 million in the year-ago period.

Revenue rose 8% to $24.08 billion, just missing Wall Street’s forecast of $24.09 billion. Revenue from membership fees climbed to $531 million from $475 million, and same-store sales rose 5% overall and 6% in the U.S.

Fayetteville, N.C., is the next stop for Walmart’s Saluting Heroes Together campaign, which together with Operation Homefront, aims to honor the men and women who have served or are currently serving in the military, as well as their families. 

Memphis -- Fred's Inc. said Thursday that profit for the quarter ended May 4 rose 9% to $11.4 million, from $10.5 million last year. Results topped Wall Street forecasts.

Revenue edged up to $501.5 million from $500.5 million, beating analysts’ estimated $499.5 million in revenue. Same-store sales dipped 1.3%.

EAST RUTHERFORD, N.J. — Kid Brands announced late today that it has appointed James Christl as SVP and CFO. He replaces Guy Paglinco, who has resigned as CFO "to pursue other opportunities."

Paglinco has agreed to remain with the company full-time through July 5 to ensure a smooth transition, and has reportedly agreed to make himself available to the company for up to six months following his departure, if deemed necessary.

ABILENE, Kan. — Broad-line retailer Alco Stores has promoted Ricardo Clemente to SVP of human resources, store operations and loss prevention.

Clemente, who graduated from New Mexico State University with a bachelor of science degree in biology and business management, has more than 20 years of retail experience. He joined Alco Stores in 2011 as a district manager. Since then he has held increasingly responsible positions, serving most recently as VP of stores and human resources.

Los Angeles -- Guess? reported Thursday that adjusted net earnings for the quarter ended May 4 plummeted 56.1% to $11.7 million, from $26.6 million in the year-ago period.

According to CEO Paul Marciano, the results were better than the company had expected.

"Despite the continued global economic challenges … these earnings reflect the ongoing success within the company to globally streamline and improve productivity,” he said.