News

San Bruno, Calif. -- YouTube is reportedly challenging the Vine video app from Twitter and Instagram video app from Facebook with its own new video app called MixBit. As reported by the New York Times, MixBit allows users to record up to 16 seconds of video (compared to 15 seconds for Instagram and six seconds for Vine) on their smartphones.

Newell Rubbermaid has announced plans to sell its hardware business to Nova Capital, a firm that specializes in the acquisition of corporate and private equity portfolios, for $214 million.

Specifically, components of the sale include Newell's Amerock, Ashland, Drapery Hardware, Bulldog and Shur-Line brands. Sales for 2013 came in at $255 million so far, with gross proceeds resting at $214 million.

San Bruno, Calif. -- Walmart.com is giving fans of its Facebook page early access to a "Back to Class Cyber Monday" event being held Monday, Aug. 12. Customers will receive online discounts of up to 60% on close to 300 back-to-school items ranging as high as almost 60%, while supplies last. Fans of Wal-Mart’s Facebook page can gain early access to the sale by visiting the page on Sunday, Aug. 11 and clicking a special link.

Global fragrance leader Elizabeth Arden cited curtailed orders at a mass market customer as a factor in its weaker-than-expected full year financial results, and the finger was quickly pointed at Walmart.

Advance Auto Parts announced plans to open its 4,000th store on Friday, one day after reporting disappointing sales at its 3,999 locations.

Total sales for the second quarter increased 6.1% to $1.55 billion due largely to the addition of 175 new locations. However, same store sales declined 0.3% on top of a prior year decline of 2.7%.

Twenty-year Johnson & Johnson former executive Rick LaBerge was named VP of sales at Mars Chocolate North America.

In his new role, LaBerge will lead the Mars Chocolate sales organization, overseeing the strategy and execution of retail management, customer account teams, field sales and customer development. He will serve as a member of the Mars senior management team and will play an active role in industry events, according to the company.

Milwaukee -- Roundy’s reported generally disappointing financial results for the second quarter of fiscal 2013. Net income plummeted 40% from $18.9 million in the second quarter of the previous year to $13.5 million, while net sales for the second quarter of 2013 were $980.3 million, a decrease of $16.5 million, or 1.7%, from $996.8 million for the second quarter of 2012.

NEW YORK — In its first quarter as a public company, Fairway Group Holdings Corp., the parent company of Fairway Market, reported tepid financial results for its fiscal 2014 first quarter ended June 30.