News

New York -- Starbucks Coffee Co. is considering changes to its tax practices in the U.K. in the wake of criticism from lawmakers, tax campaigners and the media, according to Reuters.

A Reuters examination of Starbucks accounts that was made public in October showed that the chain had reported 13 years of losses at its U.K. unit, even as it told investors the operation was profitable and among the best performing of its overseas markets, the report said.

Walmart moved its quarterly dividend payment up a few days so it would fall in 2012, but Costco took tax avoidance to a new level this week.

In anticipation that tax rates on dividends will rise next year as the federal government flounders for ways to raise revenue rather cut spending, a flurry of companies are paying one time dividends or adjusting payment dates. Walmart falls into the latter camp and said its 39.75 cent per share payment scheduled for January 2 would instead be paid on December 27.

Same store sales in November at Target plunged unexpectedly while apparel discounters and Costco kept humming and Kroger extended its string of consecutive comp increases to nine years.

The nations second largest grocer this week reported a third quarter profit, excluding some non-recurring items, of 46 cents that was three cents better than analysts forecast and its identical store sales increased by 3.2%. Total sales including fuel for the period increased 5.9% to $21.8 billion.

It’s common to see BMWs, Mercedes and other luxury makes in Walmart parking lots, but a new study reported on by Ad Age reveals wealthier shoppers prefer Amazon.com

Walmart and Procter & Gamble have signed on as primary sponsors for LPGA’s tour event in Northwest Arkansas for the next three years.

The event has been a phenomenal success for the region and grown in significance each year by attracting top LPGA talent. Next year, the tournament known officially as the Walmart Northwest Arkansas Championship presented by P&G will be held June 17-23 at the Pinnacle Country Club in Rogers.

NEW BRUNSWICK, N.J. — Johnson & Johnson has elected Alex Gorsky as its new chairman, board of directors, effective December 28. Gorsky, who was appointed CEO in April of this year, replaces current chairman Bill Weldon, who was with the company for 41 years.

It’s been awhile since Sears and the phrase "same store sales increase" were used in the same sentence, but that changed Thursday morning when the recently spun off hometown and outlet division product a 3.1% third quarter increase.

Sears Hometown and Outlet Stores said sales for its third quarter ended October 27, increased 3.3% to $557 million, driven almost entirely by the 3.1% comp increase and to a lesser extent by a net increase of nine stores that grew the total store count to 1,111 units. Profits increased 29% $8.8 million or 29 cents a share.

Atlanta, Ga. — Fashion basics brand Alternative Apparel appointed Erik Joule as its president and CMO, effective January 7, 2013.

Joule will be based out of the company’s design office in Los Angeles, where he will report directly to CEO Evan Toporek and work closely with founder and CCO Greg Alterman.
 

LOS ANGELES — Kim, Kourtney and Khloé Kardashian’s eyewear line available through Sears Optical is now available online as well as in stores.

The Kardashian Kollection Eyewear line was introduced at retail locations nationwide in July of this year and includes eyeglasses and sunglasses.

The review of strategic alternatives remains ongoing at Supervalu despite reports about discussions breaking down with one prospective investor.