Personnel Updates:
Best Buy’s announced that its CEO Brian Dunn resigned from the company by mutual agreement and that a review is being conducted concerning the former chief executive’s personal conduct.
Best Buy announced that Barry Judge, Exec VP and Chief Marketing Officer, has left the company.
Best Buy announced that Geek Squad founder and Chief Technology Officer Robert Stephens has left the company.
Best Buy Co. Inc. announced that David Deno has left the company to join OSI restaurant Partners LLC as CFO.  Deno  had been President of Asia and CFO of the International Division for Best Buy.
Books-A-Million, Inc. announced the appointment of R. Todd Noden as CFO. Mr. Noden replaced the now former CFO Brian W. White, who resigned to pursue other endeavors.
Cracker Barrel Old Country Store, Inc.announced that Laura A. Daily has been appointed as Senior VP Retail.
Family Dollar Stores announced that Dorlisa K. Flur, the company’s Vice Chair – Strategy and Chief Administrative Officer, has resigned her position “to pursue other interests.”
H&R Block announced that Phil Mazzini the head of its U.S.retail tax services unit has resigned.  The company also named Jason Houseworth, who led its digital tax preparation operations, the head of its U.S. tax services division.  Current CFO Jeff Brown will become the Chief Accounting and Risk Officer. 
HSN has named Anne Martin-Vachon Chief Merchandising Officer.
Hewlett Packard announced that John Schultz has been promoted to the position of Exec VP and General Counsel.
Hewlett Packard announced that Marc Levine has been elected to the position of Senior VP and Controller.
Hewlett Packard announced Vyomesh Joshi, Exec VP of IPG, is retiring after a highly accomplished 31-year career at HP.
OfficeMax announced that Reuben Slone, Exec VP, Supply Chain has left the company and has taken a position at Walgreens.
Pamida Stores announced that Exec VP and CFO,  Michael O. Moore  has left the company to accept a position at Ruby Tuesday.
Staples announced the appointment of Willem Vos as Director of e-Commerce, Staples Europe.
Systemax announced that it has appointed three new executives. Joining the leadership team are Jed Stillman, Exec VP of Strategy and Services, Michael Amkreutz, Exec VP Merchandising, and Michael Jones, Chief Information Officer.
Financial Focus:
Bed Bath & Beyond Inc., reported that net sales for fiscal 2011 were approximately $9.500 billion, an increase of approximately 8.5% from net sales of approximately $8.759 billionin the prior fiscal year. 
Dollarama Inc. announced that sales for fiscal 2012 increased by 12.9%, from $1,419.9 million in Fiscal 2011 to $1,602.8 million.
Duckwall-ALCO Stores announced that net sales from continuing operations for fiscal year 2012 increased 4.4% to $482.8 million, compared with fiscal year 2011.
Gordmans Stores, Inc. announced results for its fiscal year (fifty-two weeks) ended January 28, 2012.  Net sales for the fiscal year ended January 28, 2012 increased 6.7% to $551.5 million from $517.0 million in fiscal 2010.
Kirkland’s, Inc. reported that net sales for the 52-week period ended January 28, 2012, increased 3.6% to $430.3 million compared with $415.3 million for the 52-week period ended January 29, 2011. 
Mergers and Acquisitions:
Bed Bath & Beyond Inc. has agreed to buy home goods retailer Cost Plus Inc. for about $495 million after getting promising results from a joint effort to put a specialty food department in some Bed Bath & Beyond stores. 
Both companies’ boards have unanimously approved the deal, which is expected to close during Bed Bath& Beyond’s fiscal second quarter, which ends in August.
Industry Insight:
The Bargain! Shop, theCanadian discount store chain announced that it will acquire 10 retail locations from Hudson‘s Bay Co.’s closing Fields banner, effective Aug. 1.
The acquisitions will grow The Bargain! Shop to 237 stores.
Bed Bath & Beyond Inc., anticipates opening a total of 40 stores across all its concepts this fiscal year.
Conn’s Inc. reported that its store opening plans call for five to seven new stores this year.
The Container Store announced it will open six locations in 2012, making this the largest real estate growth year in the company’s history and bringing the company’s store count to 59 by year’s end.
Costco Wholesale Corp. said it plans to open up to an additional eight warehouses prior to the end of its fiscal year on September 2, 2012.  
Kirkland’s Inc. announced that for the 53-week period ending February 2, 2013 (“fiscal 2012″), the company expects to open 35 to 45 new stores and close approximately 25 stores.
Target Corp. announced that it has initiated remodels at 90 general merchandise stores across the U.S., which are expected to be completed on June 24, 2012.  Upon completion of the construction, these stores will offer a full selection of affordable and quality fresh foods.  The June stores will be the second of three cycles of remodels for Target this year.  The company said that nearly 1,000 Target stores currently offer an expanded food layout.
Green Initiatives/Sustainability:
Walmart has announced six SolarCity projects on stores in Colorado, marking the company’s 100th solar power installation in the U.S. and, it said, moving it closer to its long-term goal of using 100-percent renewable energy for all its retail and distribution facilities … When complete, Walmart’s SolarCity projects in Colorado are expected to generate nearly three million kilowatt-hours of clean, renewable energy per year, which is the equivalent of powering more than 225 homes. The solar projects are expected to avoid producing more than 5 million pounds of carbon dioxide emissions per year.
Walmart released its fifth annual Global Responsibility Report (GRR). Entitled “Beyond 50 Years: Building a Sustainable Future”.  Significant waste reduction and greater use of renewable energy are detailed in the report.  It goes on to highlight the chain’s global top 10 list of achievements to reduce its impact on the environment, improve efficiency in its supply chain and stores, and address social issues.
The study unveils data and progress against Walmart’s three primary sustainability goals to use 100% renewable energy; create zero waste; and sell products that sustain people and the environment. The top 10 achievements highlighted in the report include:
  • Reduced waste by 80%: Walmart prevented 80.9% of the waste generated across all U.S. operations from going to landfills. Walmart achieved this by implementing its Zero Waste Program, which consists of recycling, donating and repurposing waste. Similar efforts are under way globally. ASDA, Walmart’s U.K. operator, sends zero food waste to landfills, and Walmart stores in China and Brazil diverted 52% of operational waste from landfills.
  • Utilized 1.1 billion kilowatt hours (kWh) of renewable energy: The U.S. EPA Green Power Partnership program now ranks Walmart as the second-largest onsite green power generator in the United States. Renewable energy projects provide 1.1 billion kWh annually, or about 4% of electricity for Walmart buildings globally.
In addition, Walmart purchases another 18% from the grid for a total of 22% renewable electricity as of 2010. Walmart has 180 renewable energy projects in operation or under development, which use a diversity of innovative technologies, including solar power, fuel cells, micro-wind, and offsite wind projects. 
·         Nurtured diversity and inclusion: Walmart has continued to focus on making the company a workplace of opportunity. Fifty-three percent of 179,000 hourly promotions in U.S. stores were women and 200,000 female associates have been with Walmart for 10 years or longer. In the last five years in the United States, Walmart has increased female store managers by 46%.
·         Expanded locally grown produce: By the end of 2011, Walmart increased the amount of locally grown produce sold by 97%, which accounts for more than 10% of all produce sold in U.S.stores.
Walmart is working hard to improve its image with its latest announcement that its Acres for America program is conserving an additional 300 acres of land to protect and restore wildlife habitats in the heart of U.S. cities, including Bridgeport, Chicago, Portland, San Diego, and Washington, D.C.  In 2011, Walmart expanded its Acres for America investments to include urban conservation projects in New York, Washington, D.C., Chicagoand Los Angeles. The awards announced this week will support additional projects in Bridgeport, Chicago, Portland, San Diego, and Washington, D.C.involve community volunteers in enhancing habitat quality in the wetland by restoring native vegetation, which will benefit fish and bird populations in the Tualatin River system.