News

London -- Wm. Morrison Supermarkets PLC said Thursday that it has acquired a 10% stake in U.S. online grocer FreshDirect, based in New York City.

According to Morrison, the U.K. fourth-largest supermarket chain, the acquisition marks its debut in the online food market.

Morrison has also announced plans to test a c-store format and to expand its grocery store counts in order to increase its presence in the U.K grocery market.

BENTONVILLE, Ark.  -- Through March 13, Sam's Club is offering an eValues trial to its advantage and business members. According to the company, the eValues program is an exclusive program that delivers tailored offers to consumers based on unique shopping patterns. The trial program will enable all Sam's Club members to receive a benefit usually afforded only to members with Sam's Club Plus.

Houston -- The Men's Wearhouse reported Wednesday a loss of $14.1 million for the quarter ended Jan. 29, narrowed from a loss of $18.8 million in the year-ago period.

The retailer, which sells suits and rents tuxedos, offered a 2011 forecast of adjusted profit that would beat Wall Street projections.

Revenue increased 18.6% to $542.1 million. Same-store sales rose 4.3% on strong tuxedo-rental revenue.

Shareholders of Wal-Mart de Mexico elected three new female board members at the company’s annual meeting yesterday, bringing to six the number of women on the company’s eleven-member board.

The new members include Shelley Broader, chief merchandising officer of Walmart Canada, Olga Gonzalez, Walmart’s VP audit services for Latin America and Kristin Oliver, SVP people for the Walmart International division. Other women on the board include Cathy Smith, Blanca Trevino and Kristin Oliver.

Washington, D.C. -- A report released Thursday showed that consumer confidence fell last week to the lowest level in a month, negatively impacted by rising fuel prices.

The Bloomberg Consumer Comfort Index dropped to minus 44.5 in the week ended March 6, from the prior week’s minus 39.7, which was close to the highest in almost three years. Surging gas prices have left Americans concerned about personal finances.

JACKSONVILLE, Fla . -- Stein Mart announced that its costume and sterling jewelry buyer, Lori Cassidy, was named to the 2011 Merchants Hall of Fame by the trade publication Accessories magazine.

BENTONVILLE, Ark. -- The Walmart Foundation announced that is committing more than $2.5 million in grants to various projects aimed at improving the lives of women in Latin America. 

"We believe that when women achieve economic empowerment, their voices are also empowered," said Eduardo Solorzano, president and CEO of Walmart Latinoamerica. "So not only will they be able to create more stable futures for their families, they will play transformational roles in bettering the lives of women and children across Latin America."

New York -- Dov Charney, the controversial founder and CEO of American Apparel, has been hit with his most serious lawsuit to date.  Charney, 42, who has previously dodged lawsuits claiming sexual harassment, as well as non litigious-claims about a sexually-charged work environment, is being sued for $250 million in damages for allegedly forcing a teen employee to perform sexual acts.