News

Walmart added its sizable voice to the growing ranks of those opposed to a settlement regarding transaction fees charged by Visa and MasterCard.

Chelmsford, Mass. -- Workforce management solution-provider Kronos Inc. said Tuesday that United Supermarkets has expanded its relationship with Kronos after achieving a seven-figure savings through the deployment of a Kronos labor planning tool in conjunction with the workforce management solution.

The supermarket chain is extending its commitment in order to control labor costs, minimize compliance risk, and improve workforce productivity.

New York -- Barnes & Noble CEO William Lynch was compensated $10 million in 2011, compared to $1.6 million in 2010, according to a report by the Associated Press.

The difference is due to a large stock option grant, reported AP, as Barnes & Noble compensated Lynch for expanding the retailer’s digital business. However, an SEC filing revealed the retailer planned to pay Lynch double the $5.3 million in stock options it granted, but found it couldn't due to its 2009 incentive plan rules.

PAWTUCKET, R.I. — Hasbro reported that net revenues for the quarter were $811.5 million, a decrease of 11%, compared with $908.5 million in 2011. Second quarter 2012 net revenues declined 7% excluding a negative $34.4 million impact of foreign exchange.

Net earnings for the second quarter 2012 were $43.4 million, or 33 cents per diluted share, versus $58.1 million, or 42 cents per diluted share, in 2011.

By Dr. Melody King, [email protected]

PITTSBURGH — GNC Holdings on Friday elected company president and CEO Joseph Fortunato to serve as chairman. The board also has appointed Michael Hines to serve as lead independent director.

Fortunato succeeds Norman Axelrod, who has resigned as chairman. Axelrod had been a member of the GNC board since March 2007.

Lowe’s will begin carrying a line of outdoor sheds made of structural insulated panels (SIPS) at its 1,700 retail locations, as well as through its website. But unlike traditional SIPS – rigid foam insulation between two panels of oriented strand board (OSB) – the new product will be made with sheets of magnesium oxide, often referred to as MgO.

South Deerfield, Mass. -- The Yankee Candle Co. said Monday it has named Brad Wolansky to the newly created role of president of direct and CMO.

The retailer said Wolansky’s appointment is part of a strategic initiative focused on building the company's brands, expanding the digital platform and accelerating growth of its direct-to-consumer business.

Wolansky most recently served as CEO of web-based The Golf Warehouse. He also has served as VP global e-commerce at The Orvis Co.