Consumer Affairs & Relations

Walmart acquired a minority interest in Chinese e-commerce company Yihaodian, the company announced Friday morning. Yihaodian was launched in July 2008 and currently offers 75,000 products and next-day delivery on essential items from an existing logistics network in Shanghai, Beijing and Guangzhou.

Cincinnati -- Kroger Co. CEO and chairman David Dillon saw his pay fell again as the chain's sales and profit growth fell below tough targets amid continuing economic instability.

An Associated Press analysis shows Dillon received compensation for 2011 valued at $5.4 million, down 19% from 2009. It is the third straight year in which Dillon's largely performance-based pay fell.

The AP's calculation counts salary, bonuses, perks and stock and options awarded to the executive during the year.
 

IRVING, Texas — Michaels announced that it has removed the PIN pad tampering threat from its U.S. stores and believes it has identified the time frame that customer information was exposed. Based on the latest information available, exposed PIN pad transactions occurred from Feb. 8 through May 6, the date Michaels disabled the tampered devices.

Starbucks CEO Howard Schultz told Britain’s Sky.com that the chain’s focus on improving its offerings and encouraging innovation as opposed to cost-cutting and store-closings are the reasons for its turnaround.

“You can’t “cut your way to prosperity,” Schultz said. “You have to create growth and opportunity.”

When it comes to shopping, Jeff Bezos, CEO of Amazon knows a thing or two about the subject, which is why it was fitting that he was the keynote speaker at Consumer Reports’ ShopSmart magazine summit on May 11. The founder of the leading online retailer offered insights on the consumer and the future of the industry.

WASHINGTON — U.S. retail sales rose for the 10th consecutive month in April, increasing 0.5% to $389.4 billion, the U.S. Census Bureau reported Thursday.

The government agency also disclosed retail sales experienced a 7.6% jump above the year-ago period. Across retail sectors, grocery stores during April rose 1.5% to nearly $45.9 million, up from $45.3 million in March, while health and personal care stores, which have experienced positive numbers over the past several months, saw a surprise drop of 0.3% to nearly $22.7 million for the month.

Plymouth Meeting, Pa. -- Fameco Real Estate is opening an office in Center City, Philadelphia, to better accommodate the growth of its clientele in the market.

Fameco will be fully operational in the center city office at 1425 Walnut Street in early June. Fameco partners Jeffrey Cohen, Brandon Famous and Rick Schuch will spearhead this new initiative.

BELLEVUE, Wash. — Drugstore.com on Tuesday announced the expiration of the waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, with respect to the proposed merger by which the company would be acquired by Walgreens in a cash transaction.

The deal previously was announced on March 24.