Marketing

Carlsbad, Calif. -- Callaway Golf said Wednesday it will cut 150 to 170 jobs, or about 12% of its work force, as demand for golf equipment has weakened.

The eliminated jobs will span all regions and levels, said the retailer.

Callaway has downwardly revised its full-year forecast after announcing in April that it expected a significant improvement in fiscal 2012.

The job cuts are expected to generate about $52 million in annual savings.
 

Santa Ana, Calif. -- A report released Thursday by the New York Times said that three ex-managers of Wet Seal have filed a federal race discrimination lawsuit, claiming bias against African-American employees. The trio alleges the retailer has a high-level policy of firing and denying pay increases and promotions to blacks because they did not fit the retailer’s “brand image,” according to the Times report.

Walmart and Target were both winners this week as Target announced a deal with Neiman Marcus that makes the distinction between it and Walmart even sharper.

That’s not exactly the question a couple college professors ask in a new booked called, “The Physics of Business,” but it might as well have been. The authors suggest the forces of scale and efficiency are trumping innovation at U.S. companies of which Walmart is the largest.

Deerfield, Ill. -- Walgreens said Thursday that it has named retired McDonald’s CEO James Skinner as its new non-executive chairman of the board.

Skinner has served on the Walgreens board since 2005. He will succeed Al McNally, who has been non-executive chairman since 2009.

Walgreens said the change "is consistent with its board of directors succession and rotational planning process."
 

Minneapolis -- Christopher & Banks Corp. said Thursday it has entered into a new $50 million senior secured revolving credit facility with Wells Fargo Capital Finance.

The new facility provides committed revolving funding through July 2017, and replaces the company’s $50 million credit facility that was scheduled to mature on June 30, 2014.
 

BOCA RATON, Fla. — Office Depot is supporting Lady Gaga's Born This Way Foundation by offering an exclusive line of products designed to empower youth and inspire bravery.

Having past the calendar’s mid-point, we thought it would be interesting to take a look at the most viewed stories of the year to date on Chainstoreage.com. (Based on the results, it’s clear that J.C. Penney is shaping up as THE story of 2012.) Here are the Top 10 stories of the first six months: