FINANCE

Collective Brands Finance Chief to Retire

BY CSA STAFF

Topeka, Kan. Payless ShoeSource parent Collective Brands Inc. said Wednesday CFO Ullrich “Rick” E. Porzig, will retire.

Porzig has worked at the company for more than 14 years. He also holds the title of senior VP.

The company said Porzig will stay in his current role until September, through the filing of the company’s second-quarter earnings report.

Collective Brands said it is searching for a successor.

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Bed Bath & Beyond posts 1Q earnings drop

BY CSA STAFF

UNION, N.J. Bed Bath & Beyond has reported net earnings of 30 cents per diluted share ($76.8 million) in the fiscal first quarter ended May 31, compared with net earnings of $.38 per diluted share ($104.6 million) in the same quarter a year ago.

Net sales for the fiscal first quarter of 2008 were approximately $1.65 billion, an increase of approximately 6.1% from net sales of $1.55 billion reported in the fiscal first quarter of 2007. Comparable-store sales for the fiscal first quarter of 2008 increased by approximately 0.8%, compared with an increase of approximately 1.6% in last year’s fiscal first quarter.

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New site launches for Wal-Mart Marketside

BY CSA STAFF

BENTONVILLE, Ark. Wal-Mart has launched a new site for its Marketside concept at www.marketside.com.

The site includes information about the concept, which Wal-Mart said offers “a wide selection of complete meal solutions, fresh ingredients, and everyday favorites at affordable prices — all in one easy-to-shop store.” In addition, the site provides information on how to apply to positions within the stores and where the stores are located.

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