News

SEATTLE — Nordstrom has appointed Intuit president and CEO Brad Smith to the company’s board of directors. 

His addition brings the total number of directors to 12, 9 of whom serve as independent directors. Nordstrom directors serve one-year terms and the company requires annual elections of all board members.

Smith was named president and CEO of Intuit in January 2008, culminating a five-year rise through the company where he led several of its major businesses. 

American’s demand for guns outstripped supply during the fourth quarter at Smith & Wesson Holdings, where ramped-up production produced a 37.6% sales increase.

MINNEAPOLIS — General Mills saw growth for the fourth quarter and full fiscal year ended May 26, thanks to new product offerings as well as established product lines.

The company reported net sales of $17.8 billion for fiscal 2013, an increase of 7% from 16.7 billion in fiscal 2012. 

JACKSONVILLE, Fla. — Stein Mart’s interim CEO Jay Stein has been named CEO. 

"It has been my pleasure to return and lead Stein Mart after nearly two years as interim CEO. Working side-by-side with our wonderful leadership team, we are now enjoying these great results," said Stein. "This is an important time in our company's history and I am very happy to be part of this great organization."

WASHINGTON — The National Retail Federation told a congressional panel that retail and chain restaurant companies continue to have serious concerns about the Affordable Care Act and remain worried by the quickly approaching deadlines for full health care reform implementation, anticipated for January 2014.

NEW YORK — Starboard Value LP, the largest common shareholder of Office Depot, is pleased that the Delaware Chancery Court has ordered the office products retailer to hold its 2013 annual meeting on August 21, absent certain limited circumstances.  

St. Louis and Columbus, Ohio, are ground zero for a new initiative from News America Marketing that blends e-commerce with the traditional free-standing insert.

Sales in the convenience store industry advanced 2.7% during 2012, well below a prior year gain of 18.5%, as meaningful economic growth hampered results.

HAMPSTEAD, Md. — JoS. A. Bank Clothiers teamed up with the Gary Sinise Foundation to give suits to thousands of military veterans as they re-enter the civilian workforce.

Improvements in the housing market that have lifted the fortunes of Home Depot and Lowe’s so far this year extended to leading home goods retailer Bed Bath & Beyond, which reported solid sales growth late Wednesday.

The company produced earnings per share of 93 cents that met analysts’ consensus estimate and fell with the guidance range of 88 cents to 94 cents, on sales that grew 17.8% to slightly more than $2.6 billion. Same store sales rose 3.4% during the first quarter ended June 1, on top of a prior year comp increase of 3%.