News

According to reports, Wal-Mart Stores is among the seven member companies named to the committee that will represent Eastman Kodak Co., which filed for bankruptcy earlier this month. 

Bloomberg reported that the seven companies, which also include the Pension Benefit Guaranty Corp. and Sony Pictures Entertainment, will be part of the unsecured creditors committee. 

Walmart has a claim against Kodak for about $11.4 million, Bloomberg reported, citing court papers.

Washington, D.C. -- Survey results released Thursday by the Retail Advertising and Marketing Association, and conducted by BIGinsight, found that 173 million people will watch the Super Bowl football game on Sunday, Feb. 5, the most in the survey’s eight-year history and up from an estimated 171 million last year.

New York City -- The second day of J.C. Penney Co.’s launch event in New York City revealed the retailer’s long-term financial plans to generate profit and shareholder value while reinventing itself.

COO Mike Kramer outlined the company's financial outlook, including an enhanced profit formula derived from the simplified business model unveiled the day before, based on a new three-tier pricing strategy, newly organized promotions and an overhaul of the merchandise assortment.

BENTONVILLE, Ark. — Walmart announced that it is expanding its Race Time 2012 program to give fans more accessibility to discounted race tickets, driver appearances and fan events at stores, a greater selection of authentic NASCAR merchandise and a special sponsorship of Bill Elliott at the Coke Zero 400.

MINNEAPOLIS — Target has announced the names of the 50 recipients that were selected to receive a $100,000 grant to purchase much-needed resources and improve their learning environments. The $5 million donation from Target to K-through-12 schools in 31 states across the country is part of the company’s commitment to education, which includes plans to give $1 billion for education by the end of 2015.

Bensalem, Pa. -- Charming Shoppes has promoted Bryan Eshelman to executive VP, chief supply chain officer. Eshelman started with the chain in 2010 as senior VP operations.

Eshelman retains his previous duties of overseeing technology, logistics, technical design and quality assurance. His new responsibilities include directing the retailer’s global direct sourcing from buying offices in such locations as Hong Kong and India, and ensuring supply chain compliance with trade and customs regulations.

ALISO VIEJO, Calif. — Buy.com has announced that Bernard Luthi, a 15-year veteran of e-commerce, technology and consumer electronics, has joined the company as chief marketing officer. Previously, Luthi was VP marketing, web management and customer service at Newegg.com.

In his new role, Luthi will lead Buy.com’s marketing initiatives, including web site experience, advertising, BuyTV, public relations and promotions. In addition, he will work closely with Buy.com parent company Rakuten on overall corporate branding. 

NEW YORK— The transformation of JCPenney into America’ favorite store will begin with dramatically simplified pricing strategy and promotional cadence supplemented by an improved product presentation that will allow the 110-year-old company to regain its personality with a new generation of shoppers, according to CEO Ron Johnson.