STORE SPACES

Gap pledges 20% reduction in greenhouse gas emissions by 2015

BY Marianne Wilson

San Francisco — Gap Monday today released its fifth Social and Environmental Responsibility report, a comprehensive update on its supply chain operations, environmental programs and community investment efforts from 2009 to 2010.

In the report, the company committed to reducing the absolute greenhouse gas emissions from its operations in the United States by 20% by 2015, when compared with 2008 levels. This follows an earlier 20% decrease in greenhouse gas emissions from 2003 to 2008.

Reducing the environmental impact of the company’s operations remains a top priority in the years ahead. Gap reported that 100% of its branded denim is made in compliance with the company’s Water Quality System, ensuring the wastewater from the laundries is properly treated before being discharged.

Another program highlighted in the report — Gap’s P.A.C.E. program (Personal Advancement and Career Enhancement) — has helped more than 5,000 female factory workers gain life and work skills education, that benefit them both at home and at work. This award-winning, proprietary program is now in place in Cambodia, China, India, Indonesia, Sri Lanka and Vietnam, and will be expanded to Bangladesh later this ye

The full online report can be viewed here.

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OPERATIONS

Macy’s executive moving to CVS

BY Staff Writer

New York City — CVS Caremark announced that Mark Cosby has been appointed president of CVS/pharmacy, effective Oct. 1. He formerly served as president of stores for Macy’s.

“We’re delighted that Mark is joining our team,” Larry Merlo, CEO of CVS Caremark (NYSE: CVS) said in a news release. “His valuable experience at major retailers in operations and strategic planning makes him an excellent choice to lead our retail business going forward.”

Cosby succeeds Merlo, who led CVS’ retail business prior to taking over as CEO in March 2011.

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REAL ESTATE

Golfsmith to make international debut in South Korea

BY Staff Writer

Austin, Texas — Golfsmith International announced it will open its first retail stores outside the United States, in South Korea, which it called the fastest growing golf market in the world.

Golfsmith is opening the store in partnership with Golfzon Co., one of the world-largest sellers of virtual golf simulation systems. Under the terms of the agreement, the new stores will be branded Golfsmith and operated by Golfzon.

“With three million golfers already in South Korea our agreement with Golfzon further signals Golfsmith’s global strategy to build relationships that develop, manage and market Golfsmith and its brands," said Golfsmith chairman and CEO Martin Hanaka. "Golfzon ‘s keen understanding of the South Korean golf market and its solid customer base make them a strong partner in one of the biggest golf markets in the world.”

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