FINANCE

Charges Push Office Depot to 3Q Loss

BY CSA STAFF

Delray Beach, Fla., Office Depot Inc. reported a loss of $47.9 million in the third quarter, as compared to an $89.3 million profit in the year-ago period. The retailer attributed the downturn to asset-impairment costs, exit costs and options expensing. Without these, the retailer’s earnings were $115 million in the quarter. Revenues increased 5% to $3.49 billion in the quarter.

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OPERATIONS

Hilfiger Plans New Chain

BY CSA STAFF

New York City, Tommy Hilfiger Corp. is reinventing its H Hilfiger label as a high-end lifestyle brand with the goal of becoming a 200-store chain, according to a report in Women’s Wear Daily. The first repositioned H Hilfiger store will open in Tysons Corner, Vienna, Va., in February 2006, followed by units in Dallas and Chicago. The stores will carry both women’s and men’s apparel and accessories.

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News

Wal-Mart Establishes Minority-Business Equity Fund

BY CSA STAFF

Bentonville, Ark., Wal-Mart Stores Inc. announced it would invest $25 million to establish a private-equity fund to invest in businesses controlled by women and minorities.

The co-investment management fund will have an allocation life of five years. It will be managed by Dallas-based Aldus Equity.

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