News

BENTONVILLE, Ark. — Wal-Mart Stores Inc. will adjust its future financial reports to add more detail on legal proceedings and cyber security after U.S. regulators asked the retailer to better explain certain matters in its latest quarterly and annual filings, Reuters reported.
  
Wal-Mart's correspondence with the U.S. Securities and Exchange Commission took place in June and July and was made public on Monday.

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.

SEATTLE — Amazon.com boosted its college services with the launch of Amazon Textbook Rental. The service enables students to rent books by the semester and save up to 70% off on the price. Orders more than $25 are eligible for free shipping and can be returned for free with a prepaid, printable label. Amazon Prime members can take advantage of free two-day shipping on all orders.

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.

DALLAS and ATLANTA — The Home Depot bolstered its home improvement selection with the acquisition of U.S. Home Systems, a manufacturer of kitchen, bathroom and other remodeling products, as well as storage organization systems for closets and garages. Currently, USHS serves as the exclusive provider of kitchen and bath refacing products and services as well as closet and garage organizational systems to The Home Depot.

DOWNERS GROVE, Ill. — The Hillshire Brands Company announced that Sean Reid will become chief customer officer, effective Aug. 20. Reid will lead the external selling organization and build sustainable strategic relationships and strategies across all consumer-facing channels including Wal-Mart, Kroger, Costco and development networks. He will report to Sean Connolly, CEO.

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.

BOCA RATON, Fla. — Despite reporting a wider net loss and sales declines for its second quarter of 2012, Office Depot remains confident in its key goals.