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Wal-Mart shaking up, shrinking its board
Wal-Mart Stores on Thursday announced changes to its board of director of directors that it said were designed to make to make it more nimble and able to respond quicker to today’s fast-changing market.
As part of the changes, four current board members — Aida Alvarez, Roger Corbett, Mike Duke and Jim Walton — will retire and not stand for re-election. In addition, the retailer is shrinking its board by three members to 12, a move that brings it more in line with the size of most U.S. corporation boards.
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Report: Teen apparel retailer close to filing Chapter 11
Aeropostale Inc. preparing to file for Chapter 11 bankruptcy as soon as this month, Bloomberg reported, citing people familiar with the matter.
Aeropostale has recorded three consecutive years of losses as its struggles to deal with a teen audience whose spending tastes now favor fast-fashion giants such as H&M as well as online retailers. The chain operates some 800 stores nationwide.

