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  • Former Walmart exec confirmed Obama’s budget chief

    The Senate has voted unanimously to confirm former Walmart Foundation President Sylvia Mathews Burwell as White House budget director, according to a Reuters report.

    The report went on to state that the 96-0 vote marks the first time the White House has had a fully confirmed budget director since January 2012, when Jack Lew, now Treasury Secretary, left the position to become Obama's chief of staff.

  • J.C. Penney selling Martha Stewart-designed goods while court battle rages

    New York -- A Monday report by Reuters said that J.C. Penney has begun selling the Martha Stewart “JCP Everyday” lines of home goods, without waiting for a decision from the New York court.

    According to Reuters, Penney general merchandise manager Paul Rutenis testified in New York State Supreme Court on Monday that "as of today, those products are on the floor and online."

  • Walmart could benefit from Tesco’s exit

    With 6,700 stores in 12 markets, Tesco is a formidable competitor globally, but Walmart won’t have to worry about competing with the company on its home turf.

  • Tesco to exit U.S.; takes $3.5 billion global write-down

    London -- Grocery chain Fresh & Easy’s British parent Tesco confirmed Wednesday that it will abandon its U.S. business, selling off the 199-store chain and taking a $3.5 billion write-down.

  • JCP dealt another blow in MSLO case

    NEW YORK — New York State Supreme Court Justice Jeffrey Oing on Thursday refused to dismiss Macy's Inc's claim that Martha Stewart Living Omnimedia violated its contract when it designed certain merchandise for J.C. Penney Co., regardless of whether the items carry the Martha Stewart brand.

  • Judge won’t dismiss Macy’s claim against Martha Stewart

    New York -- New York State Supreme Court Justice Jeffrey Oing on Thursday refused to dismiss Macy's Inc's claim that Martha Stewart Living Omnimedia violated its contract when it designed certain merchandise for J.C. Penney Co., regardless of whether the items carry the Martha Stewart brand.

  • Walmart exec who cried 'sales disaster' is out

    Jerry Murray, the Walmart finance VP who called the chain's early February sales "a total disaster" in an email made public by Bloomberg, has left the company, effective April 5, according to a Reuters report.

    Wal-Mart Stores has confirmed the report, telling Reuters that it was Murray's decision to leave and that his last day at Wal-Mart was Friday.

  • Report: Wal-Mart exec who called sales ‘total disaster’ has left

    New York -- A Wednesday report by Reuters said that Jerry Murray, the Wal-Mart finance VP who called the chain's early February sales "a total disaster" in an email made public by Bloomberg, has left the company, effective April 5.

    Wal-Mart Stores has confirmed the report, telling Reuters that it was Murray's decision to leave and that his last day at Wal-Mart was Friday.

  • J.C. Penney’s stock falls amid reports that Q1 same-store sales off 10%

    New York -- J.C. Penney Co.’s shares fell 12% on Tuesday to close at $13.93, and nearly reached their lowest levels since 2001, Reuters reported.

    It was a rough day for Penney as industry analysts debated the surprising decision to replace ousted CEO Ron Johnson with his predecessor, Myron “Mike” Ullman.

  • J.C. Penney resumes old pricing strategy

    Plano, Texas -- A Tuesday report by Reuters said that embattled J.C. Penney Co. has recently revived its previously abandoned pricing strategy of raising prices on its own brands then discounting them as a way to spike sales and margins.

    Citing an emailed statement by Penney spokeswoman Daphne Avila, Reuters reported that the retailer began changing price tags on merchandise earlier in March and expects to complete the process in April.

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