Consumer Affairs & Relations

By Eric White, [email protected]

New York City -- Urban Outfitters has been sued by a shareholder who alleges company officials misled investors before the stock declined, Bloomberg reported.

The retailer wrongly led shareholders to believe business was going well until March 7, when it reported earnings of 13% less than analysts had suggested, Edward Koller III claims in a lawsuit filed yesterday in federal court in Philadelphia, the report said. Shares fell 17% the next day, Koller said.

Washington, D.C. -- Combined Properties announced that Jessica Berets has joined the company as Assistant General Counsel. 

Berets will be responsible for drafting, negotiating and consummating a variety of legal documents, including lease agreements with tenants in the commercial retail real estate portfolio managed by Combined Properties, and providing advice and counsel to the company's leasing, construction and property management departments.
 

Walmart this week filed its annual report on form 10-K with the Securities and Exchange Commission, and in keeping with good disclosure practices around risk factors the company offered an update on the sex discrimination case that has been all over the news.

WASHINGTON --  The National Retail Federation has a new ally in its fight for swipe-fee reform. The group announced that Americans for Financial Reform, a coalition focused on financial services industry reform that includes the Consumer Federation of America, the U.S. Public Interest Research Group and a number of other consumer organizations among its 250 national, state and local members, asked Congress Wednesday to reject proposals to delay swipe-fee reform.

New York City -- Hennes & Mauritz AB Thursday reported that its net profit in the first quarter fell 30% from a year earlier on “significantly higher” cotton prices, higher transportation costs and a stronger Swedish krona. The chain said profit in the quarter ended Feb. 28 fell to 2.62 billion Swedish kronor ($414 million).

MONTVALE, N.J. — Grocer A&P is launching a discount program that offers seniors savings on groceries purchased at A&P, Pathmark, Waldbaum's, Food Emporium and Superfresh banner stores.

On April 4, the company is launching its "Senior Appreciation Days" program, starting with "Senior Appreciation Mondays," a new special discount program for seniors in all Pathmark banner stores.

With 329 stores in China producing $7.5 billion in sales annually, Walmart has experienced dramatic growth since it entered the market in 1996 with two stores. Last year, the company pursued its most aggressive expansion to date with the opening of 49 stores, and at a meeting for financial analysts earlier this week in Shenzhen, China, senior executives detailed plans to get a lot bigger.