Walmex affirms sustainability commitment
Wal-Mart Stores’ Mexican subsidiary, Walmex, is now part of the Mexican Stock Exchange’s newly created Sustainable Index, the company reported.
Scot Rank, president and CEO of Walmart de México y Centroamérica stated: “We are very proud to be part of this new and important index. Walmart de México y Centroamérica is committed to act with integrity and in full compliance of the law. We promote respect for the individual, gender equity and quality of life for all our associates. We fight food poverty through the development of rural communities and contribute to earth’s sustainability by using renewable energy, saving water, recycling wastes and increasing the number of environment-friendly items for our customers. These are some of the core elements of our sustainable development and social responsibility commitment”.
Scot added, “I would like to congratulate the Mexican Stock Exchange for this great initiative, which promotes and acknowledges company’s social responsibility in Mexico”.
According to the Mexican Stock Exchange, as of Dec. 8, the day before beginning of trade, the weight of Walmart de México y Centroamérica in the index is 15.24%.
Kohl’s, Vera Wang marriage leads to junior’s collection
MENOMONEE FALLS, Wis. — Kohl’s announced that it has expanded its partnership with Vera Wang Group to launch a new, exclusive line of junior’s clothing that will be available in stores and online beginning August 2012.
The Princes Vera Wang collection will include premium apparel and jewelry at a great value, the company said. Additional categories may be added over time.
“We are pleased to announce the launch of Princess Vera Wang, which builds on our existing partnership with Vera Wang, one of the world’s most credible and respected designers,” said Kevin Mansell, Kohl’s chairman, president and CEO. “When we first partnered with Vera Wang in 2007 to launch Simply Vera Vera Wang, there was immediate acceptance and strong response from our contemporary customer. We are confident bringing this level of fashion and quality to our junior’s business allows us to increase the value proposition to our younger shoppers and delivers on our commitment to offer world-class brands in each category.”
Kohl’s first partnered with Vera Wang in 2007, and its growing partnership with the designer has helped strengthen the companies private brands, which accounted for 52% of sales in the third quarter of 2011, up significantly from 2010.Most recently, Kohl’s announced Simply Vera Vera Wang will expand into cosmetics and bridal jewelry beginning in spring 2012.
Stein Mart gets delisting notice from Nasdaq
Jacksonville, Fla. — Stein Mart Inc. said Wednesday that it has been put on notice by the Nasdaq exchange because it did not file its third-quarter results by the deadline.
The retailer said it has been given 60 days to submit a plan to regain compliance, or it could be delisted from the Nasdaq exchange.
Last week, Stein Mart had to revise its quarterly financial results, attributing the change to a computer snafu. It said that improperly handled records related to a pending changeover in its electronic inventory system led it to miss recording permanent markdowns.