Corporate Governance

ISSAQUAH, Wash. — Costco membership seems to defy current consumer trends as the warehouse club announced Wednesday that it would raise its annual membership fees at the same time reporting increases in fourth quarter sales and earnings.

NAPERVILLE, Ill. — OfficeMax announced that, together with its retail customers, it has donated more than $1.7 million in classroom supplies to teachers nationwide through OfficeMax's annual A Day Made Better classroom surprise events, which help provide economic relief and encourage national support for teachers.

Wednesday marked the fifth year of the A Day Made Better program, in which OfficeMax associates surprise 1,000 teachers in their classrooms with $1,000 each worth of school supplies – $1 million in sum.

NEW YORK — American Eagle Outfitters announced that it has teamed up with Cotton Incorporated to launch a denim recycling program at more than 850 American Eagle Outfitters stores and 47 college campuses across the United States.

DEERFIELD, Ill. — Walgreens on Wednesday reported September sales of $6 billion, an increase of 5.4%. Sales in comparable stores increased 3.1%. The effect of calendar day shifts negatively impacted total comparable sales by 10 basis points.

BENTONVILLE, Ark. — While Toys"R"Us and Kmart were among the first retailers to release their hot toy lists, Walmart wasn't too far behind this year, offering many of the same toys as the aforementioned companies, and even some exclusives. 

NEW YORK — Gilt Groupe has announced that Andrew Page has been promoted to the role of president from CFO, effective immediately. Page will report directly to Kevin Ryan, Founder and CEO. In his new position, Page will have operational responsibilities for Gilt's various business units, including Women's, Gilt MAN, Gilt Children, Gilt Home, Gilt Taste, Park & Bond, and Gilt City.

DALLAS — In an effort to encourage Americans to cook low-cost, heart-healthy meals at home, the charitable arm of Walmart and the American Heart Association have partnered on a new initiative.

The Simple Cooking with Heart program includes live demonstrations, online how-to videos, tips, recipes and free downloadable "host kits," which encourage people to host in-home parties to practice cooking simple, affordable and healthy meals with family, friends and neighbors, the Walmart Foundation and the American Heart Association said.

NEW YORK — Global information services company Nielsen announced the passing of one of its former executives.

Arthur C. "Art" Nielsen, Jr., 92, helped Nielsen create such innovations as consumer and performance surveys, market share, department and food index and television ratings, during his tenure as chairman and president. Nielsen's father, Arthur C. Nielsen, founded the company in 1923. Nielsen, Jr., joined the company in 1945 and retired in 1983, according to the New York Times.

Atlanta -- Aaron's announced that it has reached an agreement to purchase 11.5% of Perfect Home Holdings Limited, a privately-held U.K. rent-to-own company, which operates under the PerfectHome brand.

PerfectHome currently has 45 stores open throughout England and has plans to approximately double the number of stores over the next several years.

New York City -- J.C. Penney is adding holiday shops on its main floor, the Associated Press reported.

The "Wrapt" shop concept will debut in the company’s Manhattan store this week. It will be rolled out to the chain’s stores nationwide on Oct. 24.

The in-store shops will carry about 300 items, with the majority exclusive to J.C. Penney, according to the report.