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Mass Merchant

  • More losses, more cost-cutting at RadioShack

    RadioShack CEO Joe Magnacca contends the company’s core strategies are working even though evidence of the success was hard to see between a steep third quarter loss and double digit same store sales decline.

    Same store sales were down 13.4% in the third quarter ending Nov. 1, driven by traffic declines and soft performance in the mobility business, the company said. Total sales and operating revenue were $650.2 million, compared with $775.4 million last year.

  • Report: Wal-Mart China hid real performance, inflated sales

    New York - Wal-Mart Stores Inc. has reportedly discovered discrepancies in accounting practices its China business was using that made performance look better than it really was. According to Bloomberg, shifty accounting practices included making unauthorized bulk sales to other retailers and even booking non-existent sales. 

  • Walmart finance exec writes U a big check

    University of Arkansas alumni Ann and Gene Bordelon have contributed $100,000 to establish the Faculty Innovation Endowed Fund for the benefit of the Sam M. Walton College of Business.

  • McKenna joins Foran to drive Walmart’s U.S. growth

    The globalization of Walmart’s domestic operations continued this week with the appointment of Judith McKenna to the role of chief operating office for Walmart U.S.

  • Report - Starboard Value increases stake in Staples

    New York – Activist investor fund Starboard Value has reportedly purchased a 6% stake in Staples Inc. and upped its ownership of Office Depot from 8.6% to 10%. According to the Wall Street Journal, Starboard Value may be positioning itself to pressure the two office supply retailers to merge.  

  • Online Shoppers To Brick-and-Mortar Stores: Time for a Facelift

    By Steve Jones   What’s going to keep people coming back to physical store locations, as comfort levels with e-commerce rise every year? Savvy retailers are fighting technology with technology, refreshing the look and feel of their stores by integrating more gadgets, and using data in a more integrated way to inform strategy.  In-store tech helps retailers beat e-tailers at their own game  

  • Walmart names Judith McKenna COO; Gisel Ruiz appointed EVP of Walmart’s International People Division

    BENTONVILLE, Ark. — Walmart Stores on Wednesday announced that Judith McKenna has been promoted to COO for Walmart U.S. McKenna succeeds Gisel Ruiz, who has been appointed EVP of Walmart’s International People Division.    McKenna will assume her responsibilities immediately and will continue to report directly to Walmart U.S. president and CEO, Greg Foran. Ruiz will also assume her responsibilities immediately and will report to Walmart International president and CEO, David Cheesewright.   

  • Amazon testing bike messengers and price haggling

    New York - Amazon is testing new features, one for the way it delivers goods, and the other a new pricing option that enables shoppers to haggle directly with third-party marketplace sellers for lower prices.    The online giant is testing bike messengers deliveries in New York City, according to various media reports.    
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