Finance & Capital Management

Bentonville, Ark. -- A Friday report by Reuters said that Wal-Mart Stores Inc. disclosed an agreement Thursday to sell more than 70 million shares by a firm controlled by members of the founding Walton family.

Walton Enterprises LLC, controlled by S. Robson Walton, Alice L. Walton, Jim C. Walton and the John T. Walton Estate Trust, registered for sale 70,615,608 shares of company stock. That represents about 2% of Wal-Mart's outstanding shares.

Abilene, Kan. -- Duckwall-ALCO Stores reported Friday that it recorded a profit of $0.1 million in the quarter ended Oct. 30, compared with a loss of $2.1 million in the year-ago period.

Sales increased 3.6% to $109.8 million, and same-store sales excluding fuel centers increased 2.7%. 

Walmart faces increased competition from dollar stores, as their value proposition still resonates with cash-strapped consumers. Dollar General, for example reported that net income for its third quarter was $171 million, 50 cents per diluted share, compared with net income of $128 million, or diluted EPS of 37 cents, in the third of fiscal 2010. The company reported that same-store sales increased 6.3% for the quarter.

Wal-Mart Stores said it would offer better financial education and investment options to its associates, following its agreement, along with Merill Lynch, to pay a total of $13.5 million to settle a long-running class-action lawsuit alleging the retailer and its retirement plan administrator breached their fiduciary duty toward nearly 2 million past and present Walmart workers in the company’s 401(k) plan, Forbes.com reported.

NEW YORK — NYSW Beverage Brands has named Amir J. Daibes, P.E., the new president and part owner of the company. Daibes joined the New York-based bottled water company after more than 30 years in the engineering, manufacturing and construction industry.

“This is an exciting, young company positioned for growth with great products and tremendous potential in the marketplace,” Daibes said.  “I am honored to be part of the team, and look forward to building its brands and footprint.

Optimism, skepticism, confidence and concern are among the wide range of emotions shared by Walmart trading partners who participated in the Second Annual Supplier Survey conducted by Connecting Northwest Arkansas. 

MOORESVILLE, N.C. — Lowe’s announced that it plans to open a new customer support center in Albuquerque, New Mexico. The center is expected to be operational during the first quarter of 2012 and is estimated to create 250 jobs by March and a total of 600 jobs by the end of 2013.

Washington, D.C. -- A report released Thursday said that consumer confidence in the U.S. was little changed for a second week, holding at a level typically reached during past recessions.

The Bloomberg Consumer Comfort Index was at minus 50.3 in the period ended Dec. 4, after a reading of minus 50.2 the prior week. The gauge has been at minus 50 or worse for 11 of the past 12 weeks.

Mooresville, N.C. -- Lowe’s said Thursday it will open a new Customer Support Center in Albuquerque, N.M., in first quarter 2012.

The center is estimated to create 250 jobs by March and a total of 600 jobs by the end of 2013.

Houston -- ATM owner Cardtronics said Thursday it has forged a long-term agreement in Puerto Rico with National Lumber & Hardware to install ATMs at 38 locations for the home improvement and interior design retailer.

National Lumber & Hardware is a division of Pitusa, the island’s largest Puerto Rico-based retailer.