Strategy

At an event with President Barack Obama, Walmart said that it will double the number of on-site solar energy projects at its U.S. stores, Sam’s Clubs and distribution centers by 2020. The commitment is part of Walmart’s global initiative to drive the production or procurement of 7 billion kWh of renewable energy by the end of 2020.

Coca-Cola Bottling Co., the nation’s largest independent Coca-Cola bottler, has signed a definitive agreement with The Coca-Cola Company to expand the bottler’s franchise territory to include the Morristown and Johnson City, Tenn., territories currently served by Coca-Cola Refreshments USA, Inc. (CCR), a wholly owned subsidiary of The Coca-Cola Company.

York, Pa. -- The Bon-Ton Stores Inc. has secured a 743,000-sq.-ft. lease for a direct-to-consumer fulfillment center in West Jefferson, Ohio, with E Smith Realty Partners. The new e-commerce facility is expected to be fully operational and begin shipping orders by spring 2015.

McCormick & Company has named Brendan Foley as president of U.S. consumer effective June 2. Foley will lead the largest business unit for McCormick and will report directly to president of global consumer and CAO Lawrence Kurzius.

Brisbane, Calif. – Bebe Stores Inc. reported a net loss of $24.3 million in the third quarter of fiscal 2014, an improvement from the net loss of $49.3 million recorded in the same quarter a year earlier.

However, net sales were $93.5 million, a decrease of 17.2% from $112.9 million for the third quarter a year ago.

Same-store sales for the quarter decreased 5.7%.

Bentonville, Ark. - At an event with President Barack Obama, Walmart announced that it will double the number of on-site solar energy projects at its U.S. stores, Sam’s Clubs and distribution centers by 2020. The commitment is part of Walmart’s global initiative to drive the production or procurement of 7 billion kilowatt hours (kWh) of renewable energy by the end of 2020.

New York -- The United Kingdom’s Selfridges was named ‘Best Department Store in the World’ for the third consecutive time by the Intercontinental Group of Department Stores (IGDS). The award was given at the group’s Global Department Store Summit, which was held last week. The event is held every other year.

Selfridges was in competition for the award with Macy’s and the German retailer Breuninger.

Tuesday Morning Corporation’s turnaround efforts paid off in the third quarter ended March 31. The company reported strong comparable store sales performance, increased inventory turnover and improved cash position during the quarter.

The leading closeout retailer that operates 811 stores across the U.S. reported net sales of $182.8 million, an increase of 2.6% compared to $178.1 million for the third quarter of fiscal 2013.