News

ENGLEWOOD, Colo. — Sports Authority has appointed Michael Foss as the company’s new CEO, following Darrell Webb’s announcement that he is retiring as CEO and chairman of the board. 

Paula Deen fell from grace this week faster than a slab of butter melting in one of her opening price point pans Walmart no longer sells.

Walmart, as well as Home Depot, Target and Smithfield Foods, sought to distance themselves from Deen after racist comments she made during a deposition came to light and she was canned by the Food Network.

The Pinnacle Country Club in Rogers, Ark. hosted the Walmart NW Arkansas Championship presented by P&G last week, and this week the golf tournament gave regional charity Cancer Challenge its largest gift ever.

In honor of its 20th anniversary this week, the Cancer Challenge received a $100,000 contribution from Walmart NW Arkansas Championship presented by P&G.

OMAHA, Neb. — Oriental Trading Company, a direct retailer of value-priced party supplies, arts and crafts, toys, novelties and school supplies owned by Warren Buffett’s Berkshire Hathaway, has acquired brainy toy manufacturer MindWare Holdings.

MindWare is a manufacturer, wholesaler and direct retailer of what it describes as “brainy toys for kids of all ages,” based in Minneapolis, Minn. Oriental Trading Company is headquartered in Omaha, Neb. 

Americans' affinity for guns and ammunitions — especially among those anxious about a perceived diminishment of ownership rights — was on display this week as Smith & Wesson Holdings reported record sales and profits.

Walmart said the head of its Indian operations left the company this week and named Ramnik Narsey, SVP of Walmart International, to serve as the interim leader for the company’s Indian business. To read more click here.

Macy's has agreed to pay a $175,000 civil fine for discriminating against immigrant employees when verifying their eligibility to continue working for the company, according to a Reuters report. 

The retailer will have to walk the fine line between ensuring equal opportunity rights to workers while not running afoul of complex immigration laws. To that end, in addition to paying the fine, Macy’s has agreed to improve the manner in which it verifies workers’ eligibility to work legally.

MOUNTAIN VIEW, Calif. — When one thinks of space exploration and space travel, Paypal is hardly the first thing that comes to mind. But the eBay company is spearheading an initiative that is paving the way for space commerce.

With the help of the SETI Institute and the Space Tourism Society, PayPal Galactic aims to make universal space payments a reality. Paypal president David Marcus was joined by astronaut and author Buzz Aldrin to announce the initiative’s launch. 

Annual study tracks cost of building and outftting stores

The cost of building and outfitting stores is on the rise, according to Chain Store Age's 2013 Store Construction and Outfitting Survey.

Matthews, N.C. – A lawsuit filed against Family Dollar by Pipefitters Local No. 636 alleging that Family Dollar violated federal securities laws has been voluntarily dismissed by the plaintiff. Family Dollar had petitioned to have the suit dismissed, but Pipefitters Local No. 636 abandoned its claims before the court made a ruling. Family Dollar said it did not pay any money or make any concessions in relation to the claim being dropped.