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Report: Wal-Mart executives discuss South Africa acquisition
Bentonville, Ark. -- A report Thursday by the Associated Press said that Wal-Mart Stores executives met Thursday to discuss the proposed Massmart acquisition, which is expected to close in June.
According to the report, as Wal-Mart expands its international business, the company wants to bring ideas it gains from the South African chain to other markets.
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Pier 1 Q1 sales up, raises earnings forecast
Fort Worth, Texas -- Pier 1 Imports said Thursday its same-store sales rose 10.2% in the first quarter, helped by better traffic, more purchases being made and a higher average receipt. The retailer also gave a first-quarter earnings forecast above Wall Street's expectations.
Total revenue for the period ended May 28 climbed 10% to $335 million from $306 million.