News

WASHINGTON — Walmart announced that, through its charitable arm the Walmart Foundation, it has launched a $25 million giving campaign aimed at filling the gaps created when schools close for the summer. Funding to more than 350 local nonprofit organizations will help expand nutrition, learning and employment services for elementary, middle and high school students throughout the 2011 summer months, the company reported.

Walmart said it would address the achievement gap between higher- and lower-income youth by focusing on three key areas:

Camp Hill, Pa. -- Rite Aid Corp. surprised Wall Street on Thursday by paring its losses more than expected in the drug store retailer’s fiscal first quarter.

Rite Aid reported that it lost $65.5 million in the quarter ended May 28, compared with a loss of $76 million in the year-ago period. The retailer cited cost tightening and same-store sales gains for the improved performance.

Revenue was flat at $6.39 billion, the second straight quarter the company's revenue held steady. Before that, revenue fell for 10 consecutive quarters.

WASHINGTON — The vitality of consumer packaged goods companies is healthy again, according to a new report issued by the Grocery Manufacturers Association and PricewaterhouseCoopers on Wednesday.

STOCKHOLM, Sweden -- Hennes & Mauritz AB reported Wednesday that net income for its 2Q dropped 18% to $673 million, from $817 million in the year-ago period.

The Swedish fashion retailer blamed higher procurement costs and promotional offers for the lagging performance.

Sales edged up to $5.1 billion from $4.96 billion in the prior year quarter, but gross margin shrank to 61.7% from a previous 65.9%.

NEW YORK — Banana Republic has teamed up with "Mad Men" Emmy Award-winning costume designer Janie Bryant to launch an exclusive collection inspired by the popularAMC show.

The collection, which will be available in BananaRepublic's North American stores and online at www.bananarepublic.com beginning Aug. 11, features nearly 65 pieces of apparel and accessories for men and women that embodies the style of the 1960s showcased on "Mad Men," while still maintaining a modern look, the company reported.

NASHVILLE, Tenn.  — Nashville Apparel Company announced that it is re-introducing its Duck Head brand to the retail market in time for the back-to-school season.

Originally founded in 1865 by Nashville-based O'Brien Brothers, Duck Head was popular in the 1980s and 90s.

LAKELAND, Fla. — Publix Super Markets announced that it will make its Knoxville, Tenn. debut in in the Northshore Town Center at Northshore Drive and Pellissippi Pkwy.

“We are proud to offer our unique shopping experience to customers in Knoxville,” said Todd Jones, president of Publix Super Markets. “We are committed to providing premier customer service and look forward to supporting the Knoxville community as early as third quarter 2012.”

NEW YORK — Parigi Enterprises LLC, a subsidiary of Parigi Group Ltd, a children’s branded apparel company, announced that it has purchased certain assets of the Hartstrings brand and name, in addition to assuming the leases of 23 retail outlet stores. The Little Maven by Tori Spelling clothing line was not among the assets acquired.