Marketing

ROGERS, Ark. -- Former Walmart executive Jack Shewmaker passed away Wednesday evening. He was 72.

Shewmaker began his career at Walmart in 1970 and rose steadily through the ranks of the company, serving in numerous capacities, including district manager; VP security (now known as loss prevention); VP store operations; EVP store operations, personnel and merchandise; CFO; and president and COO. Shewmaker retired from the company in1988, but continued as a member of Walmart’s board of directors.

Bentonville, Ark. -- Wal-Mart Stores said Thursday it will open its first four stores in Washington, D.C., as part of the retailer’s effort to increase its urban expansion stride.

Wal-Mart said it plans to open the smaller-format urban stores in Washington, D.C. in late 2012, and said it has met little resistance from the area. The retailer said its poll of 800 locals found nearly three-quarters of Washingtonians favored Wal-Mart coming to the city.

Framingham, Mass. -- Staples reported Thursday that profit for the third quarter rose 7% as the office supply retailer clamped down on expenses. Net income increased to $288.7 million, from $269.4 million.

Revenue edged up to $6.54 billion from $6.52 billion. Analysts expected $6.53 billion.

San Francisco -- Williams-Sonoma reported Thursday that net income for the third quarter rose to $36.5 million, up from $7.3 million.

The company, which runs Williams-Sonoma and Pottery Barn, also recorded a 12% revenue rise to $816 million, beating Wall Street expectations of $799.5 million.

Columbus, Ohio -- Limited Brands reported Wednesday that net income for the quarter ended Oct. 30 soared to $61.3 million, compared with $6.1 million a year earlier. The company also said it would repurchase $200 million in shares.

Same-store sales increase 10%, and net sales were $1.99 billion compared with $1.78 billion last year.

Pittsburgh -- American Eagle Outfitters reported Thursday that net income for the quarter ended Oct. 30 was $33 million, compared with $59.2 million in the year-ago period. The drop was largely a result of investment losses and a prior-year tax benefit, and masked growth in sales and margins.

Total sales for the quarter increased to $752 million, compared with $736 million last year.

Same-store sales increased 1%.

Natick, Mass. -- BJ’s Wholesale Club plans to raise its annual membership fees by $5, to $50, and invest the increased revenues in store remodels.

The fee increase, which will start in January, is the company’s first since 2006. BJ’s said it would generate about $20 million in new revenue, including an expectation that renewals would decrease 1% to 1.5% as a result of the hike.