Retail

Wal-Mart Stores said it would offer better financial education and investment options to its associates, following its agreement, along with Merill Lynch, to pay a total of $13.5 million to settle a long-running class-action lawsuit alleging the retailer and its retirement plan administrator breached their fiduciary duty toward nearly 2 million past and present Walmart workers in the company’s 401(k) plan, Forbes.com reported.

ARMONK, N.Y. and SAN MATEO, Calif. — IBM announced that it intends to acquire DemandTec for $13.20 per share, or at a net price of approximately $440 million, after adjusting for cash. 

LOS ANGELES — Among those that have shopping-related applications on their smartphone, most of them will use this method to help save money when purchasing gifts this holiday season, according to a new PriceGrabber survey.

FRAMINGHAM, Mass. — Staples has named Cynthia Pevehouse SVP general counsel, effective Jan. 3, 2012. Pevehouse will have global management responsibility for the company’s legal team and report to Ron Sargent, Staples’ chairman and chief executive officer.

“Cynthia brings a wealth of knowledge and skills to Staples,” said Sargent. “With her extensive legal management experience and proven leadership, Cynthia will play an important part in supporting the company’s growth.”

MOORESVILLE, N.C. — During Lowe's annual conference Tuesday, SVP marketing and advertising Tom Lamb defined the company's target customer by first breaking down home improvement consumers into four distinct groups.

Lowe's target, he said, is on the two largest spending groups, together called "creators."

PLANO, Texas and NEW YORK — JCPenney is looking to capture its share of the Martha Stewart brand that has become synonymous with Kmart, by launching a strategic alliance with Martha Stewart Living Omnimedia to create a unique and comprehensive retail experience featuring Martha Stewart products, know-how and advice.

BENTONVILLE, Ark. — Sam's Club announced that Eddie Matney, Reinaldo Alfonso and Michael Vlasich have joined the company's Simply Delicious Chef Brigade, a team of all-star restaurant chefs who creatively use one ingredient in multiple dishes as inspiration for everyday cooking.

GOODLETTSVILLE, Tenn. — Dollar General announced that it is giving $100,000 to the U.S. Marine Corps Reserve Toys for Tots Foundation to support its efforts to provide toys to underprivileged children.

"Dollar General is proud to support Toys for Tots this holiday season," said Rick Dreiling, Dollar General's chairman and CEO. "Our stores are happy to be a part of Toys for Tots' mission of bringing joy and excitement to children who might not otherwise have a gift to open on Christmas."