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Report: Carrefour CEO to take chairman reins
Paris -- The Carrefour SA board of directors on Tuesday approved a plan for its CEO Lars Olofsson to also assume the role of chairman. According to a report by the Wall Street Journal, Olofsson will take over as current chairman Amaury de Seze announced Tuesday that he would step down.
"The time has come to reunite the two functions," De Seze said. He will remain on Carrefour's board.
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Borders closeouts take toll on B&N quarter
NEW YORK — Borders' closings, and subsequent clearance sales, took a toll on Barnes & Noble's fourth-quarter results. B&N said that its 2.9% drop in same-store sales for the quarter were temporarily negatively impacted by the liquidation of over 200 Borders bookstores during that time.
The trouble didn't end there for Barnes & Noble, which reported a fourth-quarter consolidated net loss of $59 million, or $1.04 per share. The company's total store sales were $943 million.