Strategy

New York City -- Liz Claiborne, parent company of Kate Spade and Juicy Couture labels, reported Thursday that its second-quarter loss widened to $89.9 million, from $86.8 million in the year-ago period.

Sales rose to $555.8 million from $536.8 million, beating Wall Street’s anticipated $522.1 million.
 

Amazon.com generates about three times the number of unique visitors each month that Walmart.com does, according to online measurement firm comScore, and all that traffic is allowing Amazon.com to generate record sales.

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, Walmart 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.

ARLINGTON, Va. — The Food Marketing Institute on Wednesday named Heather Garlich as the association’s director of media and public relations. She will be responsible for managing communications outreach and information activities related to FMI’s strategic goals, including government relations, food safety, conferences and events, and industry relations.

BENTONVILLE, Ark.  — The Walton Family Foundation revealed Wednesday that it will donate $50 million to Teach For America, a commitment that stands to nearly double the size of the organization’s teaching ranks.

The charity that was created by the founder of Wal-Mart Stores will mete out half of the funds over a three-year period, and will increase the number of teachers to 15,000 by 2015. The remaining half of the donation will support the training of existing Teach for America instructors in seven communities.

Sidney, Neb. -- Cabela's reported Thursday that net income for second quarter rose to $22.3 million, from $19.4 million in the year-ago quarter.

Total revenue increased 7.7% to $562.1 million, and same-store sales increased 4.4%.

St. Louis -- Build-A-Bear Workshop reported Thursday that it narrowed its loss in the quarter ended July 2 to $6.7 million, compared with a loss of $8.5 million in the year-ago period.

The retailer increased total revenue 10% to $81.8 million, and consolidated same-store sales 7.1%.

The retailer cited improved efficiencies and reduced expenses for the performance improvements.

Wal-Mart Stores president and CEO Mike Duke was on Capitol Hill this week making the case for modernizing the U.S. tax code even as Democratic and Republican lawmakers continued to engage in brinksmanship over what all agree is a disturbing level of national indebtedness. Duke testified before the United States Senate Committee on Finance, which was holding hearings on CEO perspectives on how the tax code affects hiring, businesses and economic growth. A transcript of his prepared remarks appears below: