Mass Merchant

Atlanta -- The Home Depot board member David H. Batchelder has decided against standing for re-election. The company said Thursday that it is nominating Staples chairman and CEO Ronald L. Sargent and former accounting and consulting company executive J. Frank Brown for seats.

Batchelder, 61, has been a Home Depot board member since 2007. He is the founder and principal of Relational Investors LLC.

Sargent, 55, has served as Staples' CEO since 2002 and as chairman since 2005.

Walmart’s small format desires certainly haven’t gone unnoticed by the folks at Dollar General, a company that appears bent on saturating the marketplace with small discount stores. Last year, Dollar General opened 600 new stores and remodeled or relocated 504 other stores to end its fiscal year with 9,372 stores. This year, more of the same is planned with the expansion figure getting a bump to 625 new units, while the number of remodels and relocations expands to 550 units.

It seems like this kind of stuff only happens at Walmart. A female employee at a Walmart store in Naples, Fla. bit off the tip of a co-worker’s ring finger during a fight over an alleged affair, the Associated Press reported this week. Collier County Sheriff’s deputies said they charged 43-year-old Clodia Coicour with aggravated battery stemming from the incident that took place outside the store where they both worked.

Bentonville, Ark. -- Wal-Mart Stores said it will open a new office in Atlanta, positioning the retailer to more effectively manage nearly 1,600 stores in 20 eastern U.S. states and allow it to focus on opportunities to grow its business in states such as New York.

The new eastern business unit will be run by Rosalind Brewer, president of Walmart East and executive VP of Walmart U.S.

Memphis, Tenn. -- Fred's reported Thursday that net income for the quarter ended Jan. 29 rose 48% to $8.6 million, compared with $5.8 million in the year-ago period.

The discount retailer cited a better merchandise selection and store upgrades for the improved performance, which topped Wall Street expectations.

Revenue rose 3% to $485.6 million from $473.1 million, missing analysts’ forecast of $487.3 million in revenue. Same-store sales rose 2.3%.

Walmart International takes center stage next week with investors, as international division president and CEO Doug McMillon and other members of senior leadership offer insight into operations in China and Japan.

Ronald Sargent and Frank Brown -- the CEO of Staples and the dean of an international business school, respectively -- have been nominated for election to The Home Depot's board of directors at the company’s upcoming annual meeting on June 2.

Separately, David Batchelder has informed the company that he has decided not to stand for re-election at the annual meeting. Batchelder, founder and principal of Relational Investors LLC, has been a director since 2007.

Minneapolis -- Best Buy Co. reported Thursday that net income for the quarter ended Feb. 26 fell 16% to $651 million, compared with $779 million in the year-ago period. However, adjusted results beat Wall Street expectations.

The retailer cited restructuring costs and weak TV and other electronics sales for the performance decline.