Finance & Capital Management

Walmart's efforts to open in New York City were helped last week when a new poll, released Friday, found that New Yorkers would shop at Walmart if one opened in the city. No kidding? Target is already there and New Yorkers love Target, so it stands to reason they will love Walmart too even though the companies offer a slightly different value proposition and Walmart comes with a lot more baggage.

NEW YORK — Following the recent sale of Walgreens' pharmacy benefit management business, Credit Suisse analysts said they are interested in the executive team's updated thinking on their healthcare strategy and plans for the $550 million in proceeds.

New York City -- Tiffany & Co. said fourth-quarter earnings rose 29% as net sales jumped 12% to $1.1 billion. The company earned $181.2 million in the quarter compared with $140.4 million in the year-ago period. The latest quarter includes from the pending relocation of Tiffany's New York headquarters staff.

For the full year, worldwide net sales increased 14% to $3.1 billion. Net earnings from continuing operations rose 39% to $368.4 million.

New York City -- Investment bank Goldman Sachs announced that H. Lee Scott Jr., former CEO of Wal-Mart Stores, will not stand for re-election at the annual meeting in May.

Scott has not been at Goldman for long. In 2010, Goldman tapped him to replace the former managing director of McKinsey & Company, Rajat K. Gupta, when he left the board.

NEW YORK — Next to gas, the rising cost of food almost always tops consumers' list of spending concerns, and those concerns will surely rise as food prices reached peak levels last month, according to the Labor Department's Producer Price Index. The particularly high increase in the cost of both fresh and dry vegetables not only hurts consumer wallets, but could also curtail efforts, such as this partnership between First Lady Obama and Walmart, to encourage Americans to eat healthier.

Fairfield, N.J. -- Amerlux Global Lighting Solutions recently celebrated the grand opening of Guangzhou Amerlux Lighting Solutions Co. Ltd., its new facility in China, as well as a Hong Kong sales office. The Guangzhou location was officially launched on Feb. 15 with an elaborate traditional Chinese ceremony.

New York City -- Borders Group will close another 28 superstore locations in addition to the 200 locations it is already shutting down as part of its reorganization under bankruptcy protection.

The closings are expected to occur by the end of April and include stores in Hollywood, Calif., and Stamford, Conn.

"We reached the determination about these stores after a further review of their ongoing economic viability," Borders spokeswoman Mary Davis said in a statement.

HUDSON, Ohio -- Jo-Ann Stores announced that its shareholders approved the adoption of the merger agreement between an affiliate of Leonard Green & Partners, L.P. and the company. Of the shares that were voted, over 99% were in favor of the adoption of the merger agreement. Approximately 82% of the total outstanding shares, as of the record date, voted in favor of the merger agreement. The company anticipates the closing of the transactions contemplated by the merger agreement, including the merger, will occur later today.