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Walmart and GE tout LED initiative
First it was signage and then came the freezer case and parking lots. Now Walmart and GE are moving forward with their biggest lighting initiative to date.
The companies announced plans to use GE LED lights in ceiling fixtures in hundreds of stores throughout the U.S., Asia, Latin Amerian and the United Kingdom. The new fixtures use 40% less energy than traditional overhead lighting systems and move Walmart forward on its goal of reducing energy required to power its buildings globally by 20% by 2020. It is Walmart’s largest purchase of GE LED lighting to date.
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Bed Bath and Beyond confirms weak Q4
Sales and profits were as bad as Bed Bath & Beyond initially feared due to extensive weather related store closures during the company's fourth quarter ended March 1.
The company said sales during its 13 week fourth quarter declined 5.8% to $3.2 billion while same store sales advanced 1.7%. Profits during the 13 week period declined to $333 million, or $1.60 a share, compared to the 14 week period the prior year when profits totaled $374 million, or $1.68 per share.