August Sales Pace Slows at Wal-Mart
Bentonville, Ark., Wal-Mart Stores said August same-store sales at U.S. stores rose 3.3%, on the low end of its forecast range, as surging gasoline prices led shoppers to limit purchases to food and basic back-to-school merchandise. Same-store sales in July were up 4.4%. Sales of groceries outpaced those of general merchandise for the sixth month this year.
Jones Apparel Group Names Executive
New York City, Jones Apparel Group, which operates the Barneys New York chain as well as designs, markets and wholesales branded apparel, footwear and accessories, today announced that Clare Cuthbert has been appointed president of the company’s accessories division.
Cuthbert formerly held senior positions with Bloomingdale’s, Bergdorf Goodman, Bendels, Donna Karan and Esprit.
Big 5 Gets Nasdaq Extension
El Segundo, Calif., Big 5 Sporting Goods Corp. said Nasdaq has given it another extension, this one until Aug. 31, to file financial statements for past periods. The retailer risks being delisted if it fails to meet the latest deadline. Earlier this week, Big 5 hired a new CFO, Barry D. Emerson, who will start in early September. His hiring comes after the company said earlier this month it was seeking a new CFO with a strong accounting background, given its financial reporting problems. The company is in the midst of correcting accounting errors related to accounts payable and leases, among other items.