News

New York City -- Wal-Mart Stores on Friday morning kicked off its annual shareholders meeting in Fayetteville, Ark., by announcing a $15 billion stock buyback.

Among the early speakers was Doug McMillon, chief of Wal-Mart Stores' international division, who told the audience that the chain is building sales around the world by using the same retailing style that company founder Sam Walton developed.

WOONSOCKET, R.I. — CVS Caremark announced that it has donated approximately $40,000 in monetary and in-kind donations to support residents of Joplin, Mo., who were impacted by the recent tornado. CVS Caremark and CVS/pharmacy colleagues in the region collected and donated first aid and personal care supplies valued at approximately $35,000 to local relief efforts in Joplin. In addition, CVS Caremark has made a $5,000 donation to the American Red Cross to further support relief efforts in the area.

Los Angeles -- Sporting goods chain Sport Chalet reported Thursday that it swung to a profit in its fiscal fourth quarter of $0.3 million, from a net loss of $0.3 million in the year-ago period.

Sales increased 8.8% to $98.2 million. Same-store sales edged up 1.3%.

The fourth quarter profit was the chain’s first in 13 quarters.
ff and service, and store facility. 

DEERFIELD, Ill. — May proved to be a good month for Walgreens, as the drug store chain posted a total sales jump of 7% to nearly $6.1 billion.

Walgreens reported that its total front-end sales experienced a 5.5% increase, while comparable front-end sales realized a 3.6% increase.

CARLISLE, Pa. — Royal Ahold banner Giant Food Stores is giving its private-label products a new look.

BENTONVILLE, Ark. — After nearly four hours of music, cheering, celebrity appearances and brief presentations by senior executives, Wal-Mart Stores president and CEO Mike Duke wrapped up the company’s annual shareholders’ extravaganza Friday morning by sharing five priorities associated with serving what he called the next generation of customers.

By Harry Herget, syntelllc.com

BENTONVILLE, Ark. — Wal-Mart Stores's board of directors has approved a new program authorizing the company to repurchase $15 billion of its shares, the company announced at its 41st annual meeting of shareholders Friday. This program replaces the previous $15 billion program, announced on June 4, 2010, that had approximately $2 billion of remaining authorization. Under the program, repurchased shares are constructively retired and returned to unissued status.