News

New York -- A Monday report by Reuters said that New York City's pension funds have filed a derivative lawsuit against Wal-Mart Stores Inc. based on reported allegations of bribery in Mexico and a possible cover-up by Wal-Mart officials.
 
The suit, filed in Delaware Chancery Court, alleges that Wal-Mart's officers and board of directors breached their fiduciary duty to both the company and shareholders by failing to properly handle claims of alleged bribery and apparently attempting to cover up details of the issue.

San Francisco -- A report by Reuters said that U.S. District Judge Charles Breyer on Friday said he was "seriously concerned" about whether the female plaintiffs suing Wal-Mart Stores have sufficient evidence to proceed with their re-filed gender discrimination lawsuit.

Oak Brook, Ill. -- McDonald's Corp. reported Monday that global same-store sales grew 3.3% in May, led by a 4.4% gain in the United States and 2.9% growth in Europe.

The Asia/Pacific, Middle East and Africa were down 1.7%.

"I am confident we will continue to deliver long-term sustainable growth as we remain focused on the opportunities that will enable Brand McDonald's to further extend our relevance to the 68 million customers who we serve around the world every day," said Jim Skinner, CEO.

Atlanta -- A report released Monday by First Data Corp. found that same-store consumer spending by credit, signature debit, PIN debit, EPT cards and checks at U.S. retail locations rose 7% year-over-year. April’s growth was 5.7%.

The First Data SpendTrend analysis for the full month of May 2012 showed that, although consumers continued to spend at a healthy clip early in the month, activity did slow as the month progressed. Transaction growth in May held fairly steady at 5.9%.

PLANO, Texas — JCPenney has announced several promotions and additions to its merchandising, operations and investor relations areas.

“We’re rethinking every element of the retail business and there's no better way to re-imagine the possibilities than to tap the proven abilities of our own extraordinary talent along with the fresh perspectives offered by industry experts new to our organization,” said CEO Ron Johnson.

One of the biggest gripes residents of Northwest Arkansas have of the region, be they long time residents or recent transplants, is that Walmart is the only game in town when it comes to groceries. That situation will change later this summer when The Fresh Market opens its first location in Rogers.

Technology continues to transform every aspect of society and the delivery of health care is no exception with Smart Care Doc branded clinics inside select Walmart stores now offering patients the ability to video conference with doctors.

BCS Global and Telemed Ventures this week announced they had teamed up to deliver deliver “cloud-based managed visual collaboration services” to Walmart’s Retail Clinics. Telemed operates Walmart clinics under the Smart Care Doc brand and BCS Global is provider of videoconferencing services.

FORT WORTH, Texas — A Thursday report by Reuters said that RadioShack will take a 49% stake in a joint venture with Cybermart to open small-format, RadioShack-branded stores in greater China.

Cybermart, an affiliate of Hon Hai Precision Industry Co., and RadioShack will open their first location in Shanghai in July. Additional locations are planned for mainland China, as well as Taiwan, Hong Kong and Macau.

Speaking at The Home Depot’s 2012 Investor and Analyst Conference in Atlanta, Home Depot EVP merchandising Craig Menear revved up the power tool rhetoric.

Menear said the company intends to defend its position as power tool market share leader.

He also described power tools as a category with a relatively high vulnerability to online competitors. One of the best defenses is a large fleet.

MOORESVILLE, N.C — Through its charitable and educational foundation, Lowe's has awarded more than $2.3 million in Spring 2012 Lowe’s Toolbox for Education grants to 543 schools in 47 states throughout the nation. The grants were given to schools and parent organizations for parent-initiated school-improvement projects benefiting K-12 public education.

The projects funded during the spring grant period include technology and safety improvements, library renovations, walking trails, greenhouses, outdoor learning environments and more.