Mass Merchant

Former Walmart president and CEO Lee Scott will step down from the board of Goldman Sachs after serving just one year, according to a report late Thursday by the Financial Times. The publication indicated that a person familiar with the situation said service on the Goldman board demanded significantly more time than Scott had anticipated.

BENTONVILLE, Ark. -- Walmart announced it has eliminated more than 80% of the waste that would go to landfills from its operations in California by implementing a comprehensive waste reduction program. The results far exceed national average where EPA estimates only 45% of waste is diverted from landfills and the California rate of 65%.

The program is now being rolled out across the chain’s 4,400 stores, Sam’s Club locations and distribution centers in the United States, moving the retailer closer to its global goal of creating zero waste.

NEW YORK -- Walmart announced that it has donated $2 million to Dress for Success, a non-profit that helps femailes get back into the work force by providing clothes, interview preparation and other tools needed to land a job. The announcement was made at the third annual Dress for Success day of service in New York City.

Canton, Mass. -- Casual Male Retail Group reported net income of $5.3 million for its fourth quarter, up from $3.6 million in the year ago period. The retailer also said it will expand its superstore format, Destination XL, with 10 to 14 new stores due to open this year.

Sales for the quarter ended Jan. 29 were up 0.7% to $111.5 million, from $110.7 million a year ago. Same-store sales rose 2.9%.

New York City -- Shareholders of Jo-Ann Stores on Friday approved a $1.6 billion merger with an affiliate of Leonard Green & Partners.

Of all the shares that were voted, more than 99% were in favor of the agreement. Those in favor of the pact represented 82 of outstanding shares. The company expects the deal to close Friday.

The company will be delisted from the New York Stock Exchange.

Minneapolis -- Starbucks, Lowe’s and Target are among the U.S. retail chains donating money to the relief effort that is assisting victims of the earthquake and tsunami in Japan.

The Starbucks Foundation and Starbucks Coffee Japan will contribute approximately $1.2 million) to aid immediate humanitarian and relief efforts. 

New York City -- Fast-fashion retailer Forever 21 has pledged to donate 100% of its global online sales on March 18 to help the victims of Japan’s earthquake and tsunami. 

All of Forever 21's e-commerce sites -- forever21.com, canada.forever21.com, forever21.com/eu, forever21.com/uk, forever21.co.kr, and forever21.co.jp -- are participating in the initiative.

New York City -- Investment bank Goldman Sachs announced that H. Lee Scott Jr., former CEO of Wal-Mart Stores, will not stand for re-election at the annual meeting in May.

Scott has not been at Goldman for long. In 2010, Goldman tapped him to replace the former managing director of McKinsey & Company, Rajat K. Gupta, when he left the board.

UNIVERSAL CITY, Calif., and BENTONVILLE, Ark. -- The upcoming live action/CG-animated film Hopeasily lends itself to a variety of Easter-based retailing opportunities, and Walmart is getting in on the action with the announcement of a partnership with Universal Pictures that will include in-store events and excluisive licensed products.

NEW YORK  -- Macy's announced the launch of "Martha Stewart Collection by Serta," a mattress line available exclusively at Macy's.