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Inside This Issue - News
Just a week before Black Friday and the all-important kickoff to the holiday shopping season, Walmart posted third quarter results showing positive sales and earnings numbers, but a slowdown in same-store sales growth. That, in turn, prompted a drop in Walmart’s share price. James McCann has been named chief operating officer of Ahold USA, effective February 1. He succeeds Carl Schlicker, who is retiring. Eyeing popular toys, fashions and exclusive products, consumers have already made a dent in their holiday shopping lists. According to the National Retail Federation’s (NRF’s) holiday consumer spending survey conducted by BIGinsight, 52.8% of Americans started their holiday shopping in mid-November, up from 51.4% last year. Kroger Co. is entering the high-growth specialty pharmacy market by acquiring the outstanding shares of Axium Pharmacy Holdings Inc., which will merge the companies. Six veteran Publix Supermarket Inc. employees will assume new officer positions effective January 1. Chief executive officer Ed Crenshaw announced that the positions are in human resources, information technology and retail operations. Thomas O’Boyle Jr. has been named chairman, president and chief executive officer at Marsh Supermarkets. O’Boyle recently resigned as executive vice president of merchandising, marketing, supply chain and logistics at A&P. An internal investigation of Walmart’s actions in developing markets has now extended beyond the company’s Mexican subsidiary to include Brazil, China and India. Despite objections from hundreds of retailers, a federal judge has preliminarily approved a $7.2 billion settlement of a class-action lawsuit over so-called swipe fees.
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