Strategy

MEMPHIS, Tenn. — Terminix has entered the Canadian pest control market with the acquisition of substantially all the assets of Toronto-based Magical Pest Control. It is the first Canadian asset acquisition for the company.

Founded in 1997, Magical Pest Control is one of the largest pest control companies in Ontario. It specializes in commercial accounts and the property management sector, while also treating residential customers. The Toronto company, headed by president Mark Joseph, served customers throughout Ontario and eastern Canada.

PITTSBURGH — The PNC Financial Services Group has appointed Andrew Feldstein to its board of directors. Feldstein is co-founder, CEO and chief investment officer of BlueMountain Capital Management, LLC.

"Mr. Feldstein brings a reputation for innovation and additional risk management expertise to the board," said PNC executive chairman James E. Rohr. "His vision and experience should benefit PNC as we seek to grow our business and further strengthen our balance sheet."

By Jeff Weidauer, [email protected]

The National Retail Federation and the Retail Association of Nevada hosted Rep. Mark Amodei, R-Nev., at a retail roundtable discussion. More than a dozen community retailers and small business owners gathered to address the industry’s challenges and public policy priorities.

New York -- Tiffany & Co. today released its annual Corporate Responsibility Report, which affirms what the retailer says are efforts to positively improve the entire jewelry supply chain. This includes promoting responsible mining standards and increasing awareness about critical issues affecting the industry, such as the environmental concerns surrounding the development of the proposed Pebble Mine in Bristol Bay, Alaska.

While second quarter sales were less than expected, one area where Walmart exceeded plan was expenses incurred related to Foreign Corrupt Practices Act and compliance matters.

The company said it spent $82 million on efforts in those areas compared to the $65 million to $70 million it though it would spend at the start of the year. Expenses during the first half of the year totaled $155 million.

New York -- Walmart is expanding its omni-channel integration by testing the use of lockers to fill online orders, company officials said during the chain’s second-quarter earnings call on Thursday.

“While this test is still in the early stages, the initial read on customer satisfaction and acceptance is very encouraging, with 90% of the customers who have used the service providing positive feedback,” Walmart U.S. CEO Bill Simon said during the call.

Menomonee Falls, Wis. -- Kohl’s Corp. reported that profit for the quarter ended Aug. 3 fell 4% to $231 million, compared with $240 million in the year-ago period. Results were impacted by rising costs, but still met Wall Street expectations.

Sales edged up 2% to $4.29 billion from $4.21 billion in the period, and matched analysts’ expectations. Same-store sales rose 0.9%, missing Wall Street’s estimated 1.1% rise.