News

Wal-Mart Stores, Inc., president and CEO Mike Duke claims to love working for a company where success and size have resulted in high expectations, but that love affair may be ending in 2013.

Walmart’s ongoing investigation into bribery allegations was thrust into the spotlight again this week after the New York Times published results of its own investigation.

Karen Roberts was named EVP and general counsel for Wal-Mart Stores, Inc. on Thursday amid the retailer’s ongoing investigation in possible violations of the U.S. Foreign Corrupt Practices Act.

Roberts, 42, is a 17 year Walmart veteran who most recently served as EVP and president of Walmart Realty for Walmart U.S.. However, prior to that, she held the position of SVP and chief compliance officer for Walmart U.S. where she oversaw the establishment of food and product safety programs and a recycling program.

Former Sam’s Club SVP and GMM Huey Long and former Target EVP of stores Troy Risch have joined forces to right the ship at RadioShack.

WASHINGTON — The National Retail Federation welcomed the House vote on legislation intended to avoid middle-class tax increases in the fiscal cliff, saying progress on the issue is critically important.

Whiting, Ind. -- More than half of U.S. adults are feeling positive about what 2013 may hold for them financially, according to survey results released Thursday by CouponCabin.com and conducted by Harris Interactive.

The survey found that 52% of U.S. adults are optimistic that 2013 will be a better year for them financially than years past, up from 48% last year.

CAMP HILL, Pa. — Rite Aid beat analyst expectations in third quarter 2013 as the generic wave and retention of Express Scripts customers helped drive better-than-expected adjusted EBIDTA and produced the company's first profitable quarter in five years.

"I am proud that we have achieved this significant milestone by putting our customers first and challenging ourselves to better serve them," Rite Aid president, chairman and CEO John Standley said in a conference call with Wall Street analysts Thursday morning.

Camp Hill, Pa. -- Rite Aid Corp. reported Thursday a profit of $60.5 million for the quarter ended Dec. 1, compared with a year-earlier loss of $54.5 million and marking the first time since quarter-ended May 2007 that the drugstore retailer has turned a profit.
 
Rite Aid also raised its forecast for the year, abandoning earlier forecasts of a loss for the year and instead suggesting that the company may turn an annual profit.