News

BOCA RATON, Fla. — Despite reporting a wider net loss and sales declines for its second quarter of 2012, Office Depot remains confident in its key goals.

Woonsocket, R.I. -- CVS Caremark Corp. reported Tuesday that profit for the quarter ended June 30 leaped 18.4% to a record $966 million from $816 million last year, boosted by the contractual impasse between rival Walgreens and Express Scripts.

Revenue for the quarter climbed 16.3% to $30.7 billion from $26.4 billion, missing Wall Street’s estimated $31.02 billion in revenue. Front-end same-store sales increased 2.3% for the quarter.

HONG KONG — Esprit Holdings Limited has appointed Jose Manuel Martínez Gutiérrez as its new Group CEO and executive director, effective on or before the end of September.

Cary, N.C. -- The Pantry reported Tuesday that net income dipped to $14.8 million in the third quarter, compared with $19 million in the same quarter last year.

Total revenue fell to $2.14 billion from $2.26 billion. Wall Street expected revenue of $2.15 million.

CAMDEN, N.J. — Campbell Soup Company has completed the acquisition of Bolthouse Farms from a fund managed by Madison Dearborn Partners LLC, a private equity firm, for $1.55 billion in cash. Campbell funded the acquisition through a combination of short- and long-term borrowings.

Bentonville, Ark. -- Wal-Mart Stores Inc. said Tuesday it has introduced its first onsite large-scale wind turbine project, unveiled at its DC in Red Bluff, Calif.

The wind turbine, expected to be operational by this fall, will provide roughly one megawatt of power or 15% to 20% of the distribution center's yearly electrical use.

The GE SLE 1.0 megawatt wind turbine, equal to the height of a 20-story building, is projected to produce approximately 2,200,000 kilowatt hours annually.

Best Buy founder and former chairman Richard Schulze on Monday offered to buy the struggling retailer and take it private for as much as $8.8 billion. Schulze said he would offer Best Buy shareholders between $24 and $26 for each of their shares in the chain, according to a letter sent to the board that he made public.

BENTONVILLE, Ark. — While new clothes and supplies may top most back-to-school lists, Sam's Club is reminding parents that a clean bill of health is also a must for the school year. On Aug. 11, all Sam's Clubs with a pharmacy will host free children's health screenings from 11 a.m. to 3 p.m.