Finance & Capital Management

Cary, N.C. -- The Pantry reported Tuesday that net income dipped to $14.8 million in the third quarter, compared with $19 million in the same quarter last year.

Total revenue fell to $2.14 billion from $2.26 billion. Wall Street expected revenue of $2.15 million.

BENTONVILLE, Ark. — The Walmart Foundation alongside six women’s foundations – The Washington Area Women’s Foundation, The New York Women’s Foundation, Women’s Fund of Mississippi, Women’s Foundation of Minnesota, Women’s Foundation for a Greater Memphis and Women’s Funding Network – has launched the Partnership for Women’s Prosperity. The new national partnership intends to help economically vulnerable women gain financial and economic security through education, job training and employment opportunities.

Bentonville, Ark. -- Wal-Mart Stores Inc. said Tuesday it has introduced its first onsite large-scale wind turbine project, unveiled at its DC in Red Bluff, Calif.

The wind turbine, expected to be operational by this fall, will provide roughly one megawatt of power or 15% to 20% of the distribution center's yearly electrical use.

The GE SLE 1.0 megawatt wind turbine, equal to the height of a 20-story building, is projected to produce approximately 2,200,000 kilowatt hours annually.

NAPLES, Fla. — ACI Worldwide, an international provider of payment systems, has named Daniel Frate as EVP global markets and product management.

Frate most recently served as EVP and head of products and pricing at PNC Bank. Building on ACI's product leadership position, Frate will be charged with delivering customer satisfaction through tight alignment of product roadmaps with market needs. He will be based out of the company's Naples, Florida headquarters.

DALLAS and ATLANTA — The Home Depot bolstered its home improvement selection with the acquisition of U.S. Home Systems, a manufacturer of kitchen, bathroom and other remodeling products, as well as storage organization systems for closets and garages. Currently, USHS serves as the exclusive provider of kitchen and bath refacing products and services as well as closet and garage organizational systems to The Home Depot.

By Merrick Theobald, [email protected]

Boca Raton, Fla. -- Office Depot reported Tuesday that it lost $64.3 million in the second quarter, widened from a $29.3 million loss in the same period last year.

Weakened sales in North America and Europe, along with a $23.9 million impairment charge and other restructuring charges, contributed to the weakened performance.

Revenue dropped 7% to $2.51 billion, compared with $2.71 in the year-ago period and missing analysts’ expected $2.6 billion in revenue. Sales in North America fell 8%, and same-store sales dropped 4%.

Westlake, Ohio -- Truck-stop operator TravelCenters of America reported Tuesday that net income for the second quarter leaped 37% to $29.9 million, from $21.8 million in the year-ago period.

Revenue dipped nearly 3% to $2.04 billion from $2.09 billion.