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Wal-Mart records $151 million net loss on India transaction
Bentonville, Ark. – Wal-Mart Stores Inc. incurred a net loss of $151 million in the process of ending its partnership with former Indian partner Bharti Enterprises. According to Wal-Mart financial statements, in October 2013 the retailer paid $100 million for Bharti’s 50% interest in Bharti Wal-Mart Pvt. Ltd., which operates 20 wholesale stores in India.
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Petco names CFO
San Diego -- Petco has named Larry Rutkowski as executive VP and CFO. Prior to joining Petco, Rutkowski served as executive VP and CFO for The Warnaco Group, an American textile and clothing corporation, and Primedia, a consumer advertising, new media and publishing company, both in New York.
Previously, he also held senior financial leadership positions at General Electric and Walt Disney Company.