Strategy

There’s no way to sugarcoat the 1.8% same-store sales decline produced by Walmart’s U.S. stores division during the fourth quarter, especially after management vowed last fall that comps would turn positive during the period and end six quarters of negative results.

Redmond, Wash. -- PlayNetwork said Thursday it has launched into the European market and acquired Absolute Audio Systems Ltd., a U.K.-based provider of commercial media products and A/V systems integration services across Europe.

Everyone has an opinion on Walmart, especially given the subpar performance of the U.S. stores division. The search for answers makes for some interesting conversations such as the one that took place earlier this week on the financial news network CNBC. Click here to watch. 

Hingham, Mass. -- The Talbots unveiled its new store design at the Westfield Garden State Plaza in Paramus, N.J.

The 5,500-sq.-ft. store has an upscale, residential feel, with a layout of five individual rooms for different merchandise stories.

Talbots chief creative officer Michael Smaldone collaborated with Robin Kramer of Kramer Design Group on the space.

BENTONVILLE, Ark. — Walmart said it will present more than $1.5 million to nonprofits in six U.S. communities, thanks to Facebook users' help with the retailer's commitment to fight hunger through 2015.

Walmart's Fighting Hunger Together campaign called on Facebook users to go to Walmart.com/fighthunger and "like" one of the 100 hungriest communities in the United States, as ranked by the Food Research and Action Center. More than 10 million votes were cast during the campaign, which ran from Nov. 15 through Dec. 31.

Minneapolis -- Christopher & Banks Corp. said Thursday that it has named Michael Lyftogt to the position of senior VP and CFO.

Lyftogt, a 12-year veteran of the company, has worked in a variety of financial roles including chief accounting officer and VP finance and has served as interim CFO since July 2010.

Sears Holdings named Lou D’Ambrosio its new CEO in conjunction with the release of fourth-quarter results that sales and profits decline, as a 2.5% same-store sales increase at Kmart was not enough to offset a 4.5% comp decline at Sear’s flagship stores.

Dallas -- Zale Corp. said Thursday that net income for the quarter ended Jan. 31 surged to $27.2 million, compared with $6.7 million a year earlier.

Zale, which has struggled to regain profitability as the economy improves, posted net income of $27.2 million compared with $6.7 million, or 21 cents per share a year ago. Sales rose to $626.4 million for the quarter, from $582.3 million. Same-store sale rose 7.9%, compared with a decrease of 11.2% during the comparable period in the prior year.