Strategy

New York City -- Barnes & Noble reported Tuesday that its loss for the quarter ended April 30 widened to $59.4 million, from a loss of $32 million in the year-ago period. The book seller said its results were hurt by liquidation sales by bankrupt Borders, as well as impacted by ongoing investment in the Nook.

Revenue rose 4% to $1.37 billion from $1.32 billion in the prior year, missing Wall Street’s estimate of $1.39 billion in revenue.

Same-store sales dropped 2.9%.

Deerfield, Ill. -- Walgreen Co. said Tuesday it will terminate a $5.3 billion-per-year relationship with Express Scripts.

Walgreen reported that contract negotiations with Express Scripts have failed, and it will stop participating in the St. Louis company's prescription plans starting Jan. 1. Express Scripts processes about 90 million prescriptions that will be filled at Walgreen stores in fiscal 2011, which will bring Walgreen about $5.3 billion in revenue.

Los Angeles -- Guess announced Monday that its co-founder and chairman Maurice Marciano will retire as chairman in January 2012, at the end of the company’s fiscal year.

Marciano will continue as non-executive chairman of Guess' board of directors, and the company will retain him for two years as a consultant.

Marciano, who hails from southern France and with his brothers founded Guess in 1981, was CEO and co-CEO from 1993 to 2007.

Pittsburgh -- GNC Holdings announced Monday that its president and chief merchandising and marketing officer Beth Kaplan has resigned the company.

After three-and-a-half years in the position, Kaplan cited a desire to pursue personal interests as reason for the departure. She will also resign as a director of the company.

Joe Fortunato, CEO, will reassume the title of president of GNC.

In related news, Amy B. Lane has joined GNC Holdings’ board of directors, replacing Kaplan.

Tokyo -- A Monday report by the Financial Times said that Walmart’s chief executive in Japan has resigned suddenly, just over a year after he assumed the position.

Toru Noda became CEO of Walmart Japan and Seiyu, its Japanese supermarket chain, in February 2010. He has cited personal reasons for the unexpected departure.

Noda will be replaced by Steve Dacus, former COO of both Walmart Japan and Seiyu.

London -- A Tuesday report by Bloomberg said that the COO of Wal-Mart’s Asda supermarket unit has quit after just six months in the position.

Bloomberg, which sourced a report in the Daily Telegraph, said that Simon King, a former head of Tesco PLC’s Turkish operations, left immediately. No successor has yet been named.

Minneapolis -- Best Buy Co. said Tuesday that it will buy back $5 billion of its common stock and raise its quarterly dividend by 7%.

The retailer said that the buyback replaces a $5.5 billion repurchase program that had about $800 million left as of May 28. The announcement came just ahead of its shareholders meeting in Richfield, Minn.

Discount grocer Aldi has made its U.S. mall debut, opening in Westfield Chicago Ridge, an 800,000-sq.-ft. enclosed shopping center in suburban Chicago Ridge, Ill. The mall is a property of The Westfield Group.

Brightly lit and colorful, the 20,000-sq.-ft. Aldi resembles a prototypical Aldi in most respects.

New York City -- Do you think Apple retail guru Ron Johnson will transform J.C. Penney Co.?

Click here to register your opinion with the Chain Store Age poll.

BENTONVILLE, Ark. — Wal-Mart Stores announced that it has completed its investment for a 51% stake in South African-based Massmart Holdings Limited for ZAR148 per Massmart ordinary share.

Massmart will continue to trade on the JSE Limited to provide Massmart shareholders with the ability to participate in the growth opportunity of the combined entity.