Finance & Capital Management

MINNEAPOLIS, Minn. — Insite Software, a leading provider of B2B e-commerce platforms and shipping solutions, has appointed David Ricketts as its SVP of sales.

Ricketts has more than 15 years of experience in software sales management, working with retailers, wholesalers, manufactures, distributors and consumer packaged goods companies to expand sales revenues via B2B and B2C e-commerce, omnichannel commerce and mobile, social and tablet commerce.

By Adam Siegel, VP sustainability and retail operations, Retail Industry Leaders Association [email protected]

Walmart may make a bid for 345 store Hong Kong supermarket chain known as ParknShop that is owned by Hutchison Whampoa, according to a Reuters report that cited people familiar with the matter.

Walmart is often linked to international retailers as a potential acquirer and according to the Reuters report it is among eight potential suitors for ParknShop who have until August 16 to submit preliminary offers.

Washington, D.C. -- In a settlement agreement with the U.S. Labor Department, Wal-Mart Stores Inc. has agreed to improve safety conditions for employees who use trash compactors and cleaning chemicals at 2,857 Walmart and Sam’s Club stores in 28 states.

The retailer will also pay a $190,000 fine to fix hazards uncovered during an Occupational Safety and Health Administration inspection at a store in Rochester, N.Y.
 

New York -- Ralph Lauren Corp. reported Wednesday that profit for the quarter ended June 29 dipped 6% to $181 million, compared with $193 million in the year-ago period.

Sales edge up 4% in the period, to $1.61 billion, but missed Wall Street’s estimated $1.65 billion in revenue. Same-store sales slipped 1%.

The fashion retailer has issued a cautious sales outlook, projecting a low-single-digit increase in current quarter revenue from last year’s $1.86 billion.

NEW YORK — News America Marketing, a coupon publisher in the U.S. and Canada which produces more than 165 billion coupons annually, has promoted Chris Blanco to EVP, CFO. He will report directly to CEO Paul V. Carlucci.

Boca Raton, Fla. – Office Depot sent its shareholders a letter this morning urging them to vote for its 10 nominees for the board of directors at its annual shareholders meeting on Aug. 21. The letter says that nominees from activist investor Starboard Value LP could disrupt progress and momentum in the ongoing OfficeMax merger and also prevent future synergies from the merger as well as make excessive cuts in critical business functions.

Officer Depot sent a similar letter to its shareholders on July 29.

Pittsburgh – American Eagle Outfitters is lowering its earnings outlook for the second quarter of fiscal 2013 due to what the retailer characterizes as weak sales and margins. The company now forecasts earnings per share (EPS) for the quarter of about $0.10, down significantly from $0.21 in the second quarter of last year.