Finance & Capital Management

Keeping tabs on key personnel moves at Walmart’s home office in Bentonville is hard enough, but the situation is even more challenging in overseas markets due to an uneven and selective disclosure strategy.

DALLAS — Tuesday Morning  reported fourth-quarter net sales of $194.8 million, a decrease of 3% from last year's fourth-quarter net sales of $200.8 million. Comparable-store sales for the quarter decreased by 4.5%, which was comprised of a 5.4% decrease in traffic and a 0.9% increase in ticket.

London — A Wednesday report by the Financial Times said that Citigroup Inc. may retain its store credit card unit, after trying to divest it earlier.

The $41 billion unit could be moved out of Citi Holdings, according to the report, over to its core credit card operations.

Citi, whose store credit card unit has such clients as Zale, Home Depot, Macy’s and Sears, has not commented on the reports.

Washington, D.C. — A report released Thursday by the U.S. Commerce Department showed that retail sales in June experienced a slight uptick of 0.1%. This comes on the heels of a 0.1% dip in May, the first time in 11 months that sales fell. 

The June resurgence was attributed to a rise in auto sales and increased spending in big chain stores. Sales excluding gasoline rebounded 0.3% after declining 0.2% in May.

Sales at general merchandise stores, which include Wal-Mart and Target, increased 0.4% on warmer weather and aggressive discounting. 

Small suppliers looking to establish business relationships with Massmart following Walmart’s acquisition of a controlling stake in the company would be well served to learn the correct pronunciation of Mncane Mthunzi.

Mthunzi will fill a new supplier development role at Massmart and comes to the retailer from an organization known as the Consumer Goods Council of South Africa where he served as CEO and Massmart CEO Grant Pattison serves as chairman.

BOCA RATON, Fla. — Office Depot has combined its two largest divisions and named Kevin Peters to the new role of president of North America. The change gives Peters, who previously served as president of North American retail, continuing oversight of the retail group in addition to leadership of the company’s North American business solutions division which is focused on large and mid-size commercial customers.

BENTON HARBOR, Mich. — Whirlpool Corp. announced that it was inducted into the Made in the USA Foundation's Hall of Fame at an awards dinner on July 2 in Santa Monica, Calif. Whirlpool was the winner of the Large Kitchen Appliances Category.

Dallas< — Alliance Data Systems Corporation  announced it has signed a long-term renewal agreement to continue providing private label credit card services for The RoomPlace.

Under terms of the agreement, Alliance Data will continue providing The RoomPlace with private label credit card services, including account acquisition and activation; receivables funding; card authorization; private label credit card issuance; statement generation; remittance processing; customer service functions; and marketing services.