Financial/Banking

New York -- The California State Teachers' Retirement System (CalSTSR), the second largest U.S. public pension fund, has filed a lawsuit against current and former Wal-Mart Stores’ executives and board members over mishandling of allegations that officials knew about a bribery campaign in Mexico and covered it up. The fund holds more than 5.3 million shares of Wal-Mart.

The California State Teachers’ Retirement System (CalSTRS) this week filed a lawsuit against current and former Walmart executives stemming from the April 22 New York Times article, which chronicled the company’s alleged use of bribes to accelerate expansion in Mexico and efforts by top executives to quash an investigation when the situation was called to their attention.

SOUTH DEERFIELD, Mass. — The Yankee Candle Company has announced that Gregory Hunt is resigning as EVP finance and CFO, effective as of May 15, 2012.  Hunt, who joined Yankee Candle in 2010, is leaving to join a leading New York based financial services firm.

Credit card trends at Target hit a new high, or low, depending on one’s perspective. Either way, it’s a good thing.

Jacksonville, Fla. -- Body Central Corp. reported Thursday that net income for the first quarter rose to $5.9 million, from $5.4 million in the same period last year. Sales increased 11.8% to $82.7 million, and same-store sales dipped 1.4%.

The retailer, which operates 243 stores, said it is on track to open at least 35 stores in 2012.
 

Charlotte, N.C. -- Harris Teeter Supermarkets reported Thursday that net income for the quarter ended April 1 edged up to $30.3 million, from $29.9 million in the year-ago period.

Sales climbed 6.7% in the period, to $1.12 billion from $1.05 billion. Same-store sales increased 3.9%.

Dallas -- J. C. Penney Co. said that Ken Hannah has been named CFO, effective May 7.

Hannah, who brings over 20 years of finance, operations and audit experience from a wide range of leading companies that include General Electric, Boeing and The Home Depot, has spent the last six years at MEMC Electronic Materials, where he served as president of solar energy, responsible for improving process discipline, simplifying the organization and reducing cost to drive growth in the company's solar business

Brisbane, Calif. -- Women’s apparel retailer Bebe stores reported Thursday that it narrowed its loss for the quarter ended March 31 to $200,000, compared with a $2.6 million loss in the year-earlier period.

Sales climbed 10.5% to $121 million, from $109.5 million. Same-store sales rose 7.2%.

For the remainder of fiscal year 2012, the retailer said it expects to open three 2b stores and close two Bebe stores.