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Comptroller reports retailer agreements
The Associated Press//April 28, 2014//
ALBANY — The New York comptroller has withdrawn shareholder proposals calling for supply chain accountability at retailers Dollar Tree and Dillard’s citing their agreements to have their suppliers report on factory safety.
Comptroller Thomas DiNapoli, trustee of New York’s $173 billion pension fund, says the agreements help protect the companies and investors from financial and reputational damage should factory suppliers fail to meet recognized safety standards.
Dollar Tree operates nearly 5,000 stores in 48 states.
Dillard’s has 300 department stores in 29 states.
The New York fund owns more than 598,000 shares of Dollar Tree worth about $30.7 million and nearly 59,000 shares of Dillard’s worth about $5.6 million.
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