Strategy

Bentonville, Ark. -- A Wednesday report by Bloomberg said that Wal-Mart Stores has named Morten Knudsen as CFO for Asia, as the retailer recasts its leadership roles in the region amidst top-heavy turnover.

Knudsen, who was previously VP for corporate finance in Asia for Danone, takes the financial chief spot for Wal-Mart Asia effective Sept. 1.

Since May, Wal-Mart has lost Japanese chief Toru Noda and three of its top executives in China, including the CFO and COO Roland Lawrence and Rob Cissell, respectively.
 

Amsterdam -- The Tommy Hilfiger Group said Wednesday it has named John Ermatinger as CEO of the company's Asia business, effective Aug. 1.

Ermatinger was previously president of Gap Asia Pacific for two years and president of Gap Japan for three years. Under his leadership, Gap successfully launched the brand in China.

BOCA RATON, Fla. — Second-quarter results from Office Depot reveal ongoing challenges in an economy still struggling to regain its footing.

In recognition of his significant contributions to the art and science of supply chain and logistics management, Dr. James R. Stock will receive Council of Supply Chain Management Professionals’ (CSCMP) 2011 Distinguished Service Award.

Stock serves as the Frank Harvey Endowed Professor of Marketing at the University of South Florida and becomes the 46th person to receive the annual award since it was created in 1965. He will be honored during the opening general session on Monday, Oct. 3, at CSCMP’s Annual Global Conference in Philadelphia.

BIRMINGHAM, Ala. — Books-A-Million's efforts to secure the inventory, fixtures, equipment and leasehold interests for 30 Borders stores ended unsuccessfully because the company could not agree with Borders on terms and the going out of business sales at these locations commenced, the company announced Monday.

FORT WORTH, Texas — RadioShack reported that total net sales and operating revenues from continuing operations for the 2011 second quarter were $941.9 million, compared with $962.3 million for the 2010 second quarter.  According to the company, the decrease in total net sales and operating revenues for the 2011 second quarter was driven by a $76.1 million decrease in sales generated by U.S. company-operated stores.  

GRAND RAPIDS, Mich. — Meijer announced that it is opening a new concept store in the Chicago suburb of Melrose park that will provide a tailored grocery offering and a broad variety of general merchandise.

Called Meijer Marketplace, the new store will be 96,000 sq. ft., about half the size of Meijer's largest supercenters. 

SANTA CLARA, Calif. — Blockbuster and Netflix may face new competition from Walmart, as the retailer announced that it will launch digital online movie rental and video streaming through its acquired Vudu service. 

The retailer is now offering 20,000 titles that can be viewed on almost any device with Internet access, from PCs to televisions to Sony's PlayStation3 and other Blu-Ray disc players.

MINNEAPOLIS — Supervalu on Tuesday reported first-quarter fiscal 2012 net sales of $11.1 billion (down 3.7%, versus last year) and net earnings of $74 million (up 10.4%), or 35 cents per diluted share. Posted net earnings beat the analyst consensus of 33 cents per diluted share.

CINCINNATI — Kroger on Tuesday promoted Donna Giordano to the role of president of the Ralphs division.

Giordano, 57, has been president of the company's Quality Food Centers division, based in Seattle, since 2002. She succeeds Mike Donnelly, who was recently promoted to SVP merchandising for Kroger.