Strategy

New York - Barnes & Noble Inc. reported Tuesday that it narrowed its loss to $12.6 million in its fiscal second quarter, compared with a loss of $24 million in the year-ago period. Results missed Wall Street expectations, and the book seller has issued a weak outlook for the third quarter and the full year.

Revenue surged 64% to $1.91 billion, attributed to the company’s acquisition of its college book unit. Without the acquisition, sales rose 1%.

Same-store sales fell 3.3%.

Gainesville, Ga. - Addison, Texas-based Coyote Management, L.P. announced that Debora M. Overholt has been named general manager for Lakeshore Mall, in Gainesville, Ga.

Lakeshore Mall, opened in 1969, and is a single-level, 517,153-sq.-ft. enclosed regional mall anchored by J.C. Penney, Sears and Belk.

New York - Wal-Mart Stores sees more opportunity in emerging markets than in Europe, the company’s International Chief Executive Officer, Doug McMcMillion, told Bloomberg.

“China is top of the list, and Brazil is not far behind” to make deals, McMillon said in an interview on Bloomberg Television’s “InBusiness With Margaret Brennan.” The retailer is being “patient” about finding the right way to expand in Russia, McMillon said.

Bentonville, Ark. - Wal-Mart Stores announced Monday that it is buying a controlling stake in South Africa's Massmart in an approximately $2 billion deal. The investment gives the discounter a substantial presence in South Africa and paves the way for further expansion across the continent.  Wal-Mart International president and CEO Doug McMillon made clear his company is pursuing a regional strategy.