News

According to an Atlanta Journal-Constitution article, Home Depot executives received increases in compensation after the company's first annual sales gain in several years. 

CEO Frank Blake earned about $10.5 million last year, up by about $500,000, according to the article. Compensation packages of other top executives rose $100,000 or more.

PARIS  -- L'Oreal Paris announced that it has named Madame Ines de la Fressange as its latest ambassador.

"Ines de la Fressange, our new L'Oreal Paris spokeswoman, has divine grace, that very contemporary way of being a woman, at once free, unexpected and mesmerizing. An accomplished model, mother and designer, she leads a full life. I am delighted that she is bringing that irresistible 'je ne sais quoi' to the brand," says Cyril Chapuy, global brand president L'Oreal Paris.

AUSTIN, Texas and WASHINGTON -- Whole Foods Market announced that it is teaming up with AFI-Discovery Channel Silverdocs Festival, the nation's leading documentary festival, to award $50,000 in grant money to filmmakers working in the green film genre.

STEVENSON, Md. — The law firm of Brower Piven on Tuesday announced that a class action lawsuit has commenced in the Delaware Chancery Court on behalf of all shareholders of Drugstore.com, alleging violations of state law by the company’s board of directors relating to the proposed acquisition by Walgreens.

The complaint alleged that Drugstore.com's board of directors breached their fiduciary duties by failing to maximize shareholder value, among other things.

San Francisco -- Gap said Wednesday it has opened an online store on China’s largest retail website.

Gap's Taobao Mall store, gap.tmall.com, will offer items from Gap, GapKids and baby gap.

Dallas -- Retalix announced Wednesday that c-store chain Family Express has selected the Retalix Demand-Driven Replenishment solution to reduce out-of-stocks, enhance the quality of its center-of-store product and fresh product offerings, and optimize its inventory position.

“Retalix’s Demand-Driven Replenishment solution offers one of the most robust, feature-rich systems on the market, and the depth of its intuitive analytics made our decision very easy,” said said Bill Nolan, VP marketing of Valparaiso, Ind.-based Family Express.

Bermuda -- Signet Jewelers Ltd., whose brands include Kay Jewelers and Jared The Galleria of Jewelry, reported Wednesday that net income for the quarter ended Jan. 29 decreased 9% to $105.4 million, from $115.5 million a year earlier.

Revenue for the period rose 6% to $1.27 billion from $1.2 billion, meeting Wall Street expectations. Same-store sales increased 8.1%.

By Chuck Densinger, [email protected] & Mason Thelen [email protected]

Question: Which computer system can provide retailers with unprecedented insight into how to serve their customers better?

Answer: Watson.

Matthews, N.C. -- Family Dollar Stores reported Wednesday that net income for the quarter ended Feb. 26 rose 10% to $123.2 million, compared with $112.2 million a year earlier. Results were helped in part by improved traffic and higher transaction value.

Revenue increased 8% to $2.26 billion, from $2.09 billion. Same-store sales rose 5.1%.

Earlier in March, Family Dollar turned down an approximately $7 billion buyout offer from minority shareholder Nelson Peltz's Trian Fund.

Hampstead, Md. -- JoS. A. Bank Clothiers reported Wednesday that net income for fiscal year 2010 leaped 21% to a record $85.8 million, compared with $71.2 million in the year-ago period.

Net sales surged 11.4% to a record of $858.1 million in fiscal year 2010, compared with $770.3 million in fiscal year 2009.

Same-store sales increased 7%.