STORE SPACES

Walmart expands solar initiative in Arizona

BY Katherine Boccaccio

Bentonville, Ark. — Wal-Mart Stores Inc. said Thursday it has launched an expansion of its solar initiative in Arizona at its Buckeye distribution center near Phoenix.

According to the retailer, the distribution center will feature Walmart’s largest solar installation to date with over 14,000 solar panels on a 1 million-sq.-ft. building and parking canopies that will produce up to 30% of the DC’s energy needs.

The solar panels will generate up to 5.3 million kilowatt hours of renewable energy per year.

The Buckeye project is Wal-Mart’s second DC solar project in Arizona, coming approximately a year after a 2-MW project in Casa Grande, Ariz.

"Environmental sustainability is an essential ingredient to us for doing business responsibly and successfully," said David Ozment, senior director of Walmart Energy. "As the world’s largest retailer, our actions have the potential to save our customers money and help substantially reduce our carbon footprint for generations to come."

Wal-Mart has set a goal for being supplied 100% by renewable energy in the coming years.

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FINANCE

Fossil CFO to retire next March

BY Staff Writer

Richardson, Texas — Fossil Inc. said Thursday that CFO Michael Kovar will retire effective March 2013 after 13 years with the company.

Fossil said it has launched a search for Kovar’s successor.

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FINANCE

Kroger increases dividend by 30%

BY Staff Writer

Cincinnati — The Kroger Co. said Thursday it will increase its quarterly dividend by 30% to 15 cents per share, payable Dec. 1.

The grocer said the move is prompted by a strong confidence in its business strategy.

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