City Sports to open 21st store, in Vermont
Boston — City Sports will open its 21st store, in Burlington, Vt., on May 6.
The eco-conscious space—built utilizing reclaimed materials from previous stores—was designed to capture the spirit of the community. The existing ceiling was kept, and all lighting fixtures were replaced with energy-efficient bulbs.
“Our design philosophy was simple: build a store that is very much on-brand for City Sports and fits into the active Burlington community,” said City Sports president and CEO Jeff Connor. “We definitely wanted to amplify our shared New England heritage and include attributes that are important to both brands, building an open, easy-to-navigate store with approachable and sustainable nuances.”
The store features designated shopping areas separated by activity and gender. Other features include a running track that allows customers to wear-test footwear in a real-life environment.
Dressbarn launches social media campaign for Mother’s Day
New York — Dressbarn, a subsidiary of Ascena Retail Group Inc., has launched a social and interactive campaign, called Share Your (MOM)ent, for Mother’s Day. The campaign’s integrated web and mobile site was designed and developed by Manhattan-based agency Conversation.
The campaign encourages consumers to upload a photo, video or written memory of anyone who has ever given them a warm and fuzzy mom-like feeling, and to share it with others via social networks and a customizable e-card.
Additionally, consumers can vote on the contributed entries shared by others. Ten winners will be selected from the Top 50 entries with the most votes and will each receive a spa day for two.
For each entry, Dressbarn will contribute one dollar (up to $60,000) to help underprivileged children buy a Mother’s Day gift for their moms.
“They will be invited into a participating Dressbarn store and will receive a $50 gift card to pick out something special for mom this Mother’s Day," said Veronica Valladares, Dressbarn assistant VP marketing.
Second largest U.S. public pension fund files suit against Wal-Mart
New York — The California State Teachers’ Retirement System (CalSTSR), the second largest U.S. public pension fund, has filed a lawsuit against current and former Wal-Mart Stores’ executives and board members over mishandling of allegations that officials knew about a bribery campaign in Mexico and covered it up. The fund holds more than 5.3 million shares of Wal-Mart.
Defendants named in the lawsuit include Michael Duke, Wal-Mart CEO and board member Michael Duke, former Wal-Mart CEO and board member H. Lee Scott Jr., and Eduardo Castro-Wright, former CEO of Walmex (the chain’s Mexican unit) and current CEO of Wal-Mart Stores USA.
“By utilizing the derivative action, CalSTRS is seeking to remedy the damages sustained by Wal-Mart as a result of alleged gross misconduct by Wal-Mart’s executive officers and directors," CalSTRS CEO Jack Ehnes said in a statement.
The pension fund retained the law firms of Girard Gibbs Llp and Labaton Sucharow Llp for the lawsuit, which was filed in the Court of Chancery in Wilmington, Del.
A Wal-Mart spokesman said the company is reviewing the lawsuit.
"We take our responsibility to our shareholders very seriously," the spokesman said, in a Reuters report. "We are reviewing the lawsuit closely and are thoroughly investigating the issues that have been raised."