Retail

San Antonio, Texas -- A survey by open-cloud company Rackspace Hosting of 1,300 U.S. and U.K. companies revealed that retail in both countries has benefited from cloud computing via IT cost reductions, increased profits, improved disaster recovery and business agility, as well as strengthened out-of-office employee performance.

Brentwood, Tenn. -- Tractor Supply Co. reported Wednesday that net income for the quarter ended March 30 rose to $44 million, compared with $40.3 million in the year-ago period.

Sales increased 6.4% to $1.09 billion from $1.02 billion in the prior year's first quarter. Same-store sales edged up 0.5%.

New York -- The Jones Group Inc. announced Monday that it will put into action a series of events designed to shore up profitability, the most significant of which includes shuttering 170 underperforming stores in the U.S. by mid-2014.

The stores identified for closure include 50 units previously announced in the fourth quarter.

New York -- Wal-Mart Stores CEO Mike Duke received pay package in 2012 worth $20.7 million, up 14% from the previous year, according to an Associated Press analysis of a regulatory filing Monday. Duke's performance-based cash bonus jumped more than 50%.

In the regulatory filing, Wal-Mart said that starting this year, it will tie some of Duke's compensation, along with that of other top executives, to the company's success in strengthening its compliance controls. Traditionally, compensation has been based on financial measures.

Menomonee Falls, Wis. -- Kohl’s Department Stores released its 2012 corporate social responsibility report, providing updates on the company’s programs and accomplishments in sustainability, community relations and social compliance. The company noted that, as of the end of fiscal 2012, it has achieved 752 Energy Star-certified locations, adding 75 stores in 2012 with a goal to reach 800 certified locations by 2015.

In other sustainability highlights, at the end of fiscal 2012:

New York -- Saks Inc. says it plans to close its Saks Fifth Avenue store in WestShore Plaza in Tampa, Fla., on May 4.

Steve Sadove, chairman and CEO of Saks, commented: “This planned closing is in line with our strategy of using our resources in our most productive Saks Fifth Avenue stores. We regularly assess the productivity, profitability, and potential of each of our stores and may determine that a closing is appropriate from time to time.”

Plano, Texas -- J. C. Penney Company announced the promotion of Brynn Evanson to EVP human resources, leading all HR functions across stores, supply chain and the home office, including team member relations, recruiting, learning and development, compensation and benefits, and talent operations. Evanson will join the company`s executive board, reporting to CEO Myron E. (Mike) Ullman, III.

Evanson, 44, joined J.C. Penney in 2009 and most recently served as VP compensation, benefits and talent operations.
 

New York -- J.C. Penney has been working with consulting firm AlixPartners, which specializes in turnarounds, for about a month, the Wall Street Journal reported.

Executives at AlixPartners are focused on cash flow management and finding ways for Penney to save money, according to the report.