Corporate Governance

NAPERVILLE, Ill. — OfficeMax announced that it has appointed Jim Barr as EVP and chief digital officer, effective Nov. 14. Barr will report to Ravi Saligram, president and CEO of OfficeMax, and will be responsible for all aspects of the company's e-commerce business and for driving its multi-channel digital strategy.  

Barr has been working with the OfficeMax e-commerce business in an advisory capacity since July 2011 to assess the opportunities for the business and develop a strategy to maximize its potential.  

BENTONVILLE, Ark. — Customers who can't wait to get their hands on the latest "Call of Duty" video game are in for some good news courtesy of Walmart. The retailer announced that on Nov. 7 in more than 2,700 stores customers can play "Call of Duty Modern Warfare 3." The event begins at 8 p.m. (local time) and will include tournaments and the chance to win double experience points with every purchase of specially-marked 20-packs of Mountain Dew, exclusively at Walmart.

ISSAQUAH, Wash. — Costco Wholesale reported net sales of $7.01 billion for the month of October, the four weeks ended Oct. 30, 2011, an increase of 11% from $6.3 billion during the similar four-week period last year.

Total comparable-club sales for the month were up 9%. U.S. comparable-store sales were up 9%, while international comps rose 8%. Excluding the impact of fuel and foreign currencies total comps rose 7%, U.S. comps rose 6% and international comps rose 9%.

MINNEAPOLIS — Target reported October sales growth that fell short of analysts expectations, while uncertainty remains following the recent departure of the company's CFO.

Target reported that its net retail sales for the four weeks ended Oct. 29 were $4.8 billion, an increase of 4.3% from $4.6 billion for the four weeks ended Oct. 30, 2010. On this same basis, comparable-store sales increased 3.3% in October and 4.3% in the third quarter.

NEW YORK — Kohl's Corp. reported a 3.9% rise in same-store sales in October, better than analysts’ expectations, amid strong demand for its new Jennifer Lopez and Mark Anthony brands.

In a statement, CEO Kevin Mansell said that customers responded favorably to the pair of new brands, as well as the company's marketing programs.

“As we enter the important fourth quarter, we plan to continue our investment in marketing, especially digital and broadcast, to drive customer traffic and broaden our reach,” he said.

COLUMBUS, Ohio — Big Lots reported that sales for the third quarter ended Oct. 29 were $1.1 billion, an increase of 6% compared with $1 billion for the third quarter of fiscal 2010. Comparable-store sales increased 1.7% for the third quarter of fiscal 2011.  

NEW YORK — Consumer spending slowed in October, sending a note of caution as retailers head into the holiday season. Eleven retailers missed expectations for same-store sales, while three chains beat estimates, according to a preliminary tally by Thomson Reuters. However, while the October results were not as promising as some retailers had hoped, sales for the most part rose and most chains reported results that were only slightly off from analysts’ estimates. Some analysts blamed Wall Street for underestimating how much caution is still out there.

ISSAQUAH, Wash. — With BJ's no longer reporting monthly sales, Costco is the only warehouse-club retailer left to give some insight regarding how Sam's Club performs on monthly basis. With Costco delivering positive comps for the month, it is safe to assume that Sam's and BJ's have garnered their fair share of the market.

WOONSOCKET, R.I. — CVS Caremark on Thursday reported solid third-quarter results — 2 cents above the high end of its guidance range — driven in large part by been tter-than-expected performance in its pharmacy benefit management, which is in the midst of a profit-improvement plan.

Wayne, N.J. — Toys"R"Us has named the leadership team for its retail business operations in Southeast Asia and Greater China, following the recent announcement of its new joint venture agreement with Li & Fung Retailing. With this agreement, the existing Toys “R” Us business operations in the region, which had previously been licensed, are now majority owned and controlled by Toys “R” Us.