Consumer Affairs & Relations

Hangzhou, China – A security flaw in AliExpress, an online marketplace that allows international consumers to make purchases on the Alibaba e-commerce platform, reportedly could have exposed personal information of millions of users to hackers. According to CNBC, Israeli security AppSec Labs discovered the flaw, which would have allowed hackers to alter orders and also gain access to customer personal and financial data, not including credit card numbers.  

New York - Wal-Mart Stores Inc. has reportedly discovered discrepancies in accounting practices its China business was using that made performance look better than it really was. According to Bloomberg, shifty accounting practices included making unauthorized bulk sales to other retailers and even booking non-existent sales. 

New York - Olshan Properties announced that Matthew B. Winn will join the firm effective January 2015 as COO.  Reporting directly to CEO Andrea Olshan and working closely with her executive team on the overall management of the company, Winn will be responsible for leading the firm’s daily operations and refining its operating policies, procedures, and processes. He will also focus on ensuring growth of the company’s platform as well as work to enhance its operational efficiency.   

New York – Activist investor fund Starboard Value has reportedly purchased a 6% stake in Staples Inc. and upped its ownership of Office Depot from 8.6% to 10%. According to the Wall Street Journal, Starboard Value may be positioning itself to pressure the two office supply retailers to merge.  

Ankenny, Iowa – Casey’s General Stores Inc. beat Wall Street expectations with net income of $49.89 million in the second quarter of fiscal 2015, up 21% from $39.43 million the same period the prior year. Growth of cost of goods sold did not keep pace with growth of sales, aiding the retailer’s profit.  

Lowe’s CEO Robert Niblock cited the recovering U.S. economy as among the reasons why the company plans to focus more on market differentiation and omnichannel retailing.

The company said it will outline these and other strategic priorities in a meeting with investors on Dec. 11 in North Carolina.

Walmart’s integrity suffered a blow this week in a Bloomberg piece with the inflammatory headline, “How Walmart made its crumbling China business look so good for so long.”

Timing is everything. The Bentonville Bella Vista Chamber of Commerce had already secured Judith McKenna as a speaker for an upcoming event when she was given a major promotion this week.

Kroger announced that Nora A. Aufreter has been elected to the company's board of directors.

DEERFIELD, Ill. - Walgreens president and CEO Greg Wasson informed the company’s board of directors that he will retire shortly after the completion of the merger between Walgreens and Alliance Boots, of which shareholders are scheduled to vote on Dec. 29, 2014.