Corporate Governance

Menomonee Falls, Wis. -- Kohl’s Department Stores on Wednesday marked the grand opening of 30 stores across 20 states. The company announced it also is remodeling approximately 100 stores this year, an 18% increase from 2010.

MOORESVILLE, N.C. — Lowe's announced that for the 2011 to 2012 school year it will donate more than $4 million to support education. 

Through its Lowe's Charitable and Educational Foundation, the company is providing funds for school systems across America through Lowe’s Toolbox for Education grants; Teach for America; Project L.I.F.T; Hispanic Scholarship Fund; Thurgood Marshall College Fund; Lowe’s Scholarships and Carl Buchan Scholarships.

BOCA RATON, Fla. — Office Depot has fired the president of its international business for "having an improper relationship."

Charlie Brown, president of the international division, has left the organization, effective Monday, the company announced in a press release.

MATTHEWS, N.C. — Family Dollar Stores announced that it has named Michael Bloom to the position of president and COO and promoted Dorlisa Flur to the position of vice chair strategy and chief administrative officer. Both Bloom and Flur will report to Howard Levine, chairman and CEO. These appointments follow the announced retirement of R. James Kelly as Family Dollar’s president and COO after 15 years with the company.

WAYNE, N.J. — Ahead of the holiday season, Toys"R"Us has announced the redesign of Imaginarium, further emphasizing its focus on exclusives this year. The company has revamped Imaginarium, the company's exclusive, specialty learning brand. The brand has been given an updated logo and 50 new products designed to promote childhood development by stimulating visual, auditory and manual senses. Toys"R"Us announced that it is inviting customers to experience the Imaginarium redesign at special in-store shops beginning Oct.

DEERFIELD, Ill. — Walgreens reported Tuesday that profit for its fiscal fourth quarter surged 69%, in part due to gains from the $525 million sale of its pharmacy benefits management business Walgreens Health Initiatives during the quarter.

Net income for the quarter ended Aug. 31 rose to $792 million, up from $470 million in the year-ago period and surpassing Wall Street expectations.

Revenue rose 6.5% to $18 billion and same-store sales increased 4.4%.

FRAMINGHAM, Mass. — Staples has promoted Christine Komola to CFO effective Feb. 1, 2012. She will report to John Mahoney, Staples’ vice chairman. The responsibilities of the CFO will transition to Komola the next year.

BENTONVILLE, Ark. — Wal-Mart Stores is in search of a new head of its global ecommerce and global sourcing businesses now that Eduardo Castro-Wright announced his retirement effective July 1, 2012. Walmart said it intends to name new leadership for these businesses by the end of January, after which Castro-Wright will assist in the transition.

TOPEKA, Kan. — Payless announced that it is supporting breast cancer awareness with the sale of a special earring set. Sales from the earrings, which cost $2 and are available in stores and online, will go toward helping Susan G. Komen for the Cure, the world's largest breast cancer organization and the largest source of non-profit funds dedicated to the fight against breast cancer.  

Matthews, N.C. -- Family Dollar Stores said Tuesday that it has named longtime CVS/pharmacy executive Mike Bloom as its new president and COO to replace the departing R. James Kelly, who announced his retirement on Tuesday after 15 years with the company. Kelly will serve as vice chairman for the next six months to assist with the transition.

Bloom, formerly executive VP – merchandising, supply chain, marketing and advertising for CVS Caremark, will assume the position of president/COO.