OPERATIONS

Claire’s Stores COO resigns company

BY Katherine Boccaccio

Chicago — Claire’s Stores announced Monday that its COO James G. Conroy has departed the company, effective immediately.

Conroy’s duties will be assumed by newly appointed CEO James D. Fielding, who will officially join Claire’s on June 18. Fielding had been president of Disney Stores Worldwide since May 2008.

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News

NYC files derivative suit vs. Wal-Mart

BY Staff Writer

New York — A Monday report by Reuters said that New York City’s pension funds have filed a derivative lawsuit against Wal-Mart Stores Inc. based on reported allegations of bribery in Mexico and a possible cover-up by Wal-Mart officials.

The suit, filed in Delaware Chancery Court, alleges that Wal-Mart’s officers and board of directors breached their fiduciary duty to both the company and shareholders by failing to properly handle claims of alleged bribery and apparently attempting to cover up details of the issue.

Wal-Mart could not be immediately reached for comment on Monday afternoon. On June 1, Wal-Mart said that while it could not predict the outcome of the various suits, it did not believe that the outcome would have a material effect on its financial conditions or results of operations.

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REAL ESTATE

Weis set to reopen former Genuardi’s stores on June 16

BY Staff Writer

Sunbury, Pa. — Weis Markets has closed on its purchase of three former Genuardi’s stores and is slated to reopen them on June 16.

Ahead of the three openings — in Conshohocken, Doylestown and East Norristown, Pa. – Weis said it opened each store’s pharmacy Monday at noon to minimize prescription service disruption.

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