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Walmart and CPG companies accelerate efficiency agenda
Walmart has gathered CEOs from more than a dozen global companies to sign new commitments that accelerate innovation in sustainable agriculture and recycling. The pledges kicked off Walmart’s inaugural Sustainable Product Expo, a three-day collaboration to expand the availability of products that sustain people and the environment.
Together, the participating suppliers represent more than $100 billion in sales at Walmart.
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Coach profit falls amid increased competition
New York -- Coach Inc. third-quarter net income dropped 20% to $190.7 million, from $238.9 million a year earlier, amid increased competition from Michael Kors and others.
Revenue for the quarter ended March 29 fell 7.4% to $1.1 billion, compared to analysts’ $1.13 billion estimate. Same-store sales in North America fell 21%. Sales will continue to fall through the rest of the year, the company said.