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Walmart to add more detail to financial reports
BENTONVILLE, Ark. — Wal-Mart Stores Inc. will adjust its future financial reports to add more detail on legal proceedings and cyber security after U.S. regulators asked the retailer to better explain certain matters in its latest quarterly and annual filings, Reuters reported.
Wal-Mart's correspondence with the U.S. Securities and Exchange Commission took place in June and July and was made public on Monday.
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Office Depot loss widens in Q2
Boca Raton, Fla. -- Office Depot reported Tuesday that it lost $64.3 million in the second quarter, widened from a $29.3 million loss in the same period last year.
Weakened sales in North America and Europe, along with a $23.9 million impairment charge and other restructuring charges, contributed to the weakened performance.
Revenue dropped 7% to $2.51 billion, compared with $2.71 in the year-ago period and missing analysts’ expected $2.6 billion in revenue. Sales in North America fell 8%, and same-store sales dropped 4%.