Trading Partners

PITTSBURGH — GNC Holdings on Friday elected company president and CEO Joseph Fortunato to serve as chairman. The board also has appointed Michael Hines to serve as lead independent director.

Fortunato succeeds Norman Axelrod, who has resigned as chairman. Axelrod had been a member of the GNC board since March 2007.

PAWTUCKET, R.I. — Hasbro reported that net revenues for the quarter were $811.5 million, a decrease of 11%, compared with $908.5 million in 2011. Second quarter 2012 net revenues declined 7% excluding a negative $34.4 million impact of foreign exchange.

Net earnings for the second quarter 2012 were $43.4 million, or 33 cents per diluted share, versus $58.1 million, or 42 cents per diluted share, in 2011.

Deerfield, Ill. -- After months of slumping sales following its split with Express Scripts Holding Co., Walgreens said it has forged a new multi-year contract with the prescription provider and will begin filling Express Scripts prescriptions on Sept. 15.

Walgreen had stopped filling prescriptions for Express Scripts after a contract between the companies ended last year. Express Scripts ended the contract because it said Walgreens wanted a premium compared to what Express Scripts paid other pharmacies.

Visa and MasterCard announced a proposed $6.6 billion settlement to a long-running dispute over the fees they charge merchants, but a growing number of voices are saying not so fast.

The July 13 settlement of a lawsuit over allegedly fixed credit card interchange fees is a credit positive for the two largest industry players Visa and Mastercard, but will have a smaller impact on merchant acquirers, retailers and banks, said  Moody’s Investors Service in a new special comment "Credit Card Interchange Fee Settlement is Credit Positive For Visa, MasterCard."

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Visa and MasterCard on Friday announced a proposed $6.6 billion settlement to a long-running dispute over the fees they charge merchants, but one major trade group was clearly annoyed at the prospect.

New York -- Macy's on Friday won a preliminary injunction against Martha Stewart Living Omnimedia that would prevent it from selling some of its products at the chain.

Macy's Inc. sued Martha Stewart Living in January after J.C. Penney acquired a 16.6% stake in Martha Stewart Living and announced plans in December to open Martha Stewart mini-shops beginning next year. Macy’s said that it had exclusive rights to certain categories of the Martha Stewart brand until 2018.