Corporate Governance

Naperville, Ill. -- OfficeMax reported Thursday that net income for the quarter ended Sept. 24 rose to $21.5 million, compared with $20 million in the year-ago period.

Sales dipped 2.1% to $1.77 billion from $1.81 billion, barely meeting Wall Street’s expected $1.807 billion. Same-store sales dropped 4.3%.

“We remain focused on driving operational efficiencies as we position the company for long-term growth," said Ravi Saligram, president and CEO, OfficeMax.

Beijing -- Local Chinese newspaper the People’s Daily reported Thursday that, just two days after re-opening all 13 stores in Chongqing following a forced two-week closure for mislabeling regular pork as organic, the retailer has been called out for selling expired coffee in one of its Chongqing stores.

Wal-Mart’s Beijing-based spokeswoman Christina Lee said the retailer is currently investigating the case.

FORT WORTH, Texas — RadioShack's transition from offering T-Mobile products and services to offering those of Verizon Wireless took a toll on the company's third quarter profits, though overall sales managed to increase.

SEATTLE — The popularity of Amazon.com's Kindle e-readers continues to help boost Amazon.com's sales. However, net income for the third quarter was disappointing.

Amazon.com reported that net sales for the third quarter increased 44% to $10.88 billion in the third quarter, compared with $7.56 billion in third quarter 2010. Net income decreased 73% to $63 million in the third quarter, or 14 cents per diluted share, compared with net income of $231 million, or 51 cents per diluted share, in third quarter 2010.

WAYNE, N.J. — Toys“R”Us announced that it has established business operations in Poland and plans to open its first store in the country at the end of November. The first Toys“R”Us store in Poland will open in the country’s capital city of Warsaw just in time for the holiday shopping season, with several additional locations slated to open in major cities throughout the country in 2012, the company reported.

NEW YORK — Macy’s is positioning itself as a leader in fashion, beauty, home and lifestyle news and trends with launch of mBLOG at macys.com/mblog. According to the company, the website will include tips from Macy's staff as well as experts from such sites as Fashionista.com and FoodRepublic.com. 

EL SEGUNDO, Calif. — Big 5 Sporting Goods announced that it has appointed Dominic DeMarco to serve on its board of directors, thereby expanding the board to seven members. DeMarco is director, co-chief investment officer and chief compliance officer for Stadium Capital Management LLC, an investment advisory firm whose affiliated funds have been shareholders of Big 5 since 2006 and taken together are the company's largest current shareholder.

BIRMINGHAM, Ala. — Books-A-Million has announced that it will open 41 new BAM! stores in markets across the U.S. in early November. The company has also closed 21 underperforming locations during its third quarter. 

WASHINGTON — The National Retail Federation said it welcomed a proposal unveiled by House Ways and Means Committee Chairman Dave Camp, R-Mich., to reform the nation’s corporate tax structure.

Birmingham, Ala. -- Books-A-Million (BAM), which has been taking over the leases of former Borders locations, will transform 41 of the sites into BAM stores in early November. Most the locations, which are across the nation, represent new markets for the bookseller.