News

CHICAGO — True Value has announced that a new chief information officer has joined the company. Rosaelee Hermens will serve as True Value’s new CIO, in addition to being an officer of the company, effective last Monday, May 9.

COLUMBUS, Ohio — DSW has named Todd Cordell as SVP human resources.  Cordell will be responsible for all human resources activities in support of DSW Stores, DSW.com, and the DSW leased business division.  

"Todd brings a wealth of experience and expertise in all areas of the Human Resources function, most particularly Organizational Development," said Michael MacDonald, CEO of DSW Inc.  "I am confident Todd will help DSW attract, develop and retain top talent in support of our key strategic growth initiatives."

Bentonville, Ark. -- Wal-Mart Stores reported Tuesday that net income for the first quarter ended April 30 rose 3% to $3.39 billion, beating Wall Street estimates. Overall results were powered by overseas stores and stringent cost controls, but business in the United States remains soft as U.S. Walmart stores posted an eighth straight quarter of same-store declines.

Wal-Mart's U.S. division recorded a 0.3% dip in same-store revenue, dragged down by a 1.1% drop at its namesake stores. Same-store sales increased 4.2% at Sam’s Club warehouse stores.

Philadelphia -- Urban Outfitters reported Monday that profit for the first quarter declined more than expected, posting net income of $39 million compared with $53 million a year earlier.

However, revenue topped Wall Street's estimates, as the operator of Urban Outfitters, Anthropologie, Free People and Terrain banners saw sales rise 9% to $524 million. Same-store sales fell 5%. But direct-to-consumer (catalogs and online) same-store sales increased 15%.

Ra-anana, Israel -- Retalix announced Tuesday that PetroChina has completed a rollout of its StorePoint POS and StorePoint Fuel solutions to more than 16,000 convenience store and fuel locations across China.

The Retalix software rollout was part of a larger IT hardware and software upgrade for PetroChina, helping the retailer introduce greater automation and control over its store-level and enterprise-level operations.

LAKELAND, Fla. — Supermarket chain Publix has confirmed the termination of the lease arrangements with The Little Clinic within select store locations in Florida and Georgia.

The move marks the end of Publix’s five-year partnership with The Little Clinic, which is part of Solera Capital’s portfolio. Solera Capital had acquired The Little Clinic’s predecessor in 2005.

JACKSONVILLE, Fla. — Winn-Dixie president, chairman and CEO Peter Lynch expressed confidence in the grocer as it heads into its fourth quarter, maintaining that the grocer's estimated adjusted EBITDA will come in at the lower end of the $100 million to $130 million range for fiscal 2011, a 52-week period ending June 29, in light of relatively flat third-quarter results.

BENTONVILLE, Ark. — Walmart reported first-quarter earnings that were above the company's guidance, reflecting stability and strength in global operations, according to president and CEO, Mike Duke.

Walmart's net income was $3.4 billion, or 98 cents per diluted share, compared with net income of $3.3 billion, or 87 cents per diluted share.