Strategy

As Texas deals with the aftermath of tragic flooding, Walmart is trying to make a difference in the state where it has its largest presence.

The Walmart Foundation has announced donations totaling $500,000 to organizations helping with relief efforts for those affected by the floods in Texas and Oklahoma.

Nashville, Tenn. – Genesco Inc. reported profit beneath Wall Street expectations in the first quarter of fiscal 2016, with planned inventory reductions and e-commerce-related expenses hindering growth. The retailer reported net earnings of $9.88 million, a 29% decrease from $13.97 million the same period the previous year.

Net sales rose 5% to $661 million from $629 million. Same-store sales grew 4%. Genesco said that West Coast port-related delivery delays impeded same-store sales growth.

Big Lots continued to see positive results from the steps it has taken to improve its business in the first quarter, with the retailer posting increases in profit and sales.

Same store sales rose by 1.6% in the first quarter ended May 2, reflecting better performance in its remaining stores, and income from continuing operations jumped by 13% to $32.3 million, producing earnings of $0.60 per share, beating estimates by a penny.

Columbus, Ohio – Big Lots Inc. beat Wall Street predictions for profit and revenue with a solid performance in the first quarter of fiscal 2015. Improved gross margin helped Big Lots increase net income by a factor of roughly 10, to $32.21 million from $3.35 million the same period a year earlier.

Net sales slipped 0.1%, staying at roughly $1.28 billion. A reduction in stores offset same-store sales growth of 1.6%.

Walgreens Boots Alliance has appointed a PepsiCo and UPS veteran as its new CIO.  

Seattle – Amazon.com reportedly plans to launch a line of private label grocery products. According to the Wall Street Journal, Amazon will add items such as milk, cereal, baby food and household cleaners to its Elements private label brand.

Currently, Amazon Prime members can purchase Elements baby wipes, and the retailer previously sold Elements diapers, as well. Amazon has recently applied for trademark protection for about two dozen Elements-branded products including coffee, soup, pasta, water, vitamins, dog food and razors.

Boston -- Online home furnishings and décor retailer Wayfair announced that Jeremy Delinsky has joined the company’s leadership team as chief technology officer.

Delinsky joins Wayfair with more than a decade of leadership experience, formerly serving as CTO and, most recently, chief product officer at athenahealth. Delinsky will report directly to Steve Conine, Wayfair’s co-founder and co-chairman.

Hot home furnishings retailer Wayfair has outgrown its chief technology officer, who also happens to be one of the company's co-founders.

So the retailer has hired Jeremy Delinsky to be the company’s new chief technology officer.

Delinsky joins Wayfair with more than a decade of leadership experience, formerly serving as CTO and, most recently, chief product officer (CPO) at athenahealth. Delinsky will report directly to Steve Conine, Wayfair’s co-founder and co-chairman.