News

Wal-Mart Stores, Inc., president and CEO Mike Duke appeared earlier this week at a meeting of the Council on Foreign Relations where he shed light on a range of topics that weren’t fully captured by headlines and soundbites from the event.

Duke was a participant in the organization’s CEO speaker series where for an hour he was politely grilled by Bloomberg president and CEO Dan Doctoroff and took questions on a broad range of topics.

New York -- Wal-Mart Stores and Kroger are said to be among the bidders for assets being sold by Hostess Brands Inc., according to Bloomberg.

The report, which cited a person who asked not to be named because the process is confidential, said there are about two dozen bidders, with some interested in just the cakes or breads businesses, and others in individual Hostess plants or products.
 

PLANO, Texas — Tostitos surprised 28 U.S. military veterans who have previously served overseas with a special homecoming celebration.

Executives at Coach, Sherwin-Williams, Ross and TJX Companies were among the top wealth creators identified by Chief Executive magazine’s 5th annual Wealth Creation Index.

Lew Frankfort, CEO at Coach topped the list with Sherwin-Williams CEO Christopher Connor and AutoZone CEO William Rhodes, ranked 14th and 16th, respectively. Other top wealth creators included 27th ranked Ross Stores CEO Michael Balmuth and TJX CEO Carol Meyerowitz. Bed Bath & Beyond CEO Steven Temares was ranked 59th and Amazon.com CEO Jess Bezos was 75th.

TREVOSE, Pa. — Broder Bros., a leading distributor of trade, private label and retail apparel brands and merchandise, has appointed Norman Hullinger as its new CEO.

Hullinger has been with the company for the last decade, most recently as its COO.

Never ones to let a good disaster go to waste, anti-Walmart forces have alerted the media to an event being held outside Walmart’s Washington, DC office.

Walmart has taken a lot of heat since last month when it was learned that a factory in Bangladesh where 112 people died in fire was being used by a Walmart supplier. Even though the facility was not on Walmart’s list of approved facilities, the incident renewed sentiment that Walmart’s quest for low prices causes its suppliers to cut corners.

New York -- Best Buy Co. on Friday said it agreed to extend the deadline to Feb. 28 for founder Richard Schulze to make a bid for the company.

The company said it is in the best interest of shareholders to let Schulze and his partners include results from the holiday season in their due diligence review.

New York -- An issue related to drawstrings has resulted in Bon-Ton Stores agreeing to pay a civil penalty in the amount of $450,000.

The U.S. Consumer Product Safety Commission alleges that the fashion retailer knowingly failed to report to the commission that its children's hooded jackets and sweatshirts were sold with drawstrings through the hood. The penalty agreement has been provisionally accepted by the commission in a 3-0 vote.