Finance & Capital Management

SAN FRANCISCO — Levi Strauss & Co has named longtime apparel executive Seth Ellison president of the global Dockers brand effective Sept. 10.

Hoffman Estates, Ill. -- Sears Holdings Corp. said Friday that both its Sears and Kmart banners would waive layaway fees for the holidays, allowing shoppers to open interest-free pay-over-time programs at both stores and online with no customary initial fees. Kmart’s program will run through Nov. 17, but Sears Holdings had yet to set a timeframe for its namesake stores.

In the past, Kmart and Sears have charged $5 for an eight-week layaway contract and $10 for the 12-week program.

MALLE, Belgium — Belgium-based cleaning brand Ecover, said it has created the world's argest green cleaning product company with the acquisition of San Francisco-based Method.

The acquisition will expand Ecover's distribution network across Europe, the United States, Asia and Australia. Collectively delivering sales of $200 million and employing around 300 staff, Ecover and Method will continue as separate brands with a shared ambition to bring as many new consumers as possible into the green cleaning and personal care market, the company said.

CITY OF INDUSTRY, Calif. — Jerry Cook has resigned as chief store officer of Hot Topic, the retailer announced Thursday. The resignation is effective Feb. 28 and because of Cook's plans relocate his family to Texas and pursue other professional opportunities.

Jackson, Miss. -- The Mississippi Supreme Court has ruled 5-4 that Wal-Mart Stores Inc. is not liable for selling bullets to an underage customer who then used the ammunition to commit murder.

The lawsuit was filed by the relatives of Robert Williams, who was shot and killed by his girlfriend's son in 2006. The son, Xavier Zurndell Moore, was 20 years old at the time, and shot Williams with ammunition purchased at a local Walmart store. Federal law requires that a person be 21 to buy pistol ammunition.

CINCINNATI — Kroger attributed its gains in sales and earnings in the second quarter to cost control and increased customer loyalty and was confident enough to raise its earnings guidance.

The retailer reported net earnings of $279.1 million, or 51 cents per diluted share, compared with net earnings of $280.8 million, or 46 cents per diluted share, for the same period last year.

BOSTON — The future North American grocery business of Kraft Foods will deliver steady and profitable top-line growth, consistent bottom-line growth and a superior dividend payout, according to the business' future executive team.

Cincinnati -- The Kroger Co. reported a better-than-expected second quarter profit of $279.1 million, down from $280.8 million a year ago. The supermarket company raised its forecast for the full year, buoyed by its strong loyalty program and its ability to keep costs in line.

Revenue, including fuel, rose 3.9% to $21.73 billion.