News

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.

Bentonville, Ark. -- The Walmart Foundation announced Tuesday the launch of its Partnership for Women’s Prosperity, a move to help economically vulnerable women gain financial and economic security through education, job training and employment opportunities.

Atlanta -- Supply chain solution provider Logility said Tuesday that Omaha, Neb., home furnishings retailer Nebraska Furniture Mart has selected Logility Voyager Solutions to help the company plan for and manage its growth into new markets.

To meet its goal of 75% growth by 2015, Nebraska Furniture Mart has embarked on an aggressive supply chain transformation project alongside a business improvement effort to streamline operations and accelerate the flow of information and products.

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.

Westlake, Ohio -- Truck-stop operator TravelCenters of America reported Tuesday that net income for the second quarter leaped 37% to $29.9 million, from $21.8 million in the year-ago period.

Revenue dipped nearly 3% to $2.04 billion from $2.09 billion.

Atlanta -- The Home Depot said Tuesday it will acquire kitchen and bath vendor U.S. Home Systems in a deal worth about $93 million.

U.S. Home Systems manufactures and installs remodeling and organization products, as well as cabinet-refacing and countertop products, exclusively through Home Depot. The acquisition is part of Home Depot’s strategy to increase its home service business.

The deal is expected to close by the end 2012.

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.

Boca Raton, Fla. -- Office Depot reported Tuesday that it lost $64.3 million in the second quarter, widened from a $29.3 million loss in the same period last year.

Weakened sales in North America and Europe, along with a $23.9 million impairment charge and other restructuring charges, contributed to the weakened performance.

Revenue dropped 7% to $2.51 billion, compared with $2.71 in the year-ago period and missing analysts’ expected $2.6 billion in revenue. Sales in North America fell 8%, and same-store sales dropped 4%.

Austin, Texas -- A survey released Tuesday by coupon site RetailMeNot.com found that nearly 80% of parents spend up to $500 per child for back-to-school shopping.

Additionally, the survey – which was conducted with Ipsos Public Affairs – found that the majority of parents get the jump on the school year by starting their shopping in July and August (54%) versus after the school year begins.

A significant number of parents, 29%, find the back-to-school shopping experience to be either annoying or stressful.

Hong Kong -- Esprit Holdings Limited said Tuesday it has named Jose Manuel Martínez Gutiérrez as its new group CEO and executive director, effective September.

Martinez was previously group director of distribution and operations for Inditex. Prior to that, he was the country manager for the Zara brand across Scandinavia.

He succeeds Ronald Van Der Vis.