Minnesota judge approves Wal-Mart settlement
Hastings, Minn. A judge in Minnesota has given final approval to a settlement of a wages-and-hours lawsuit against Wal-Mart Stores that could be worth up to $54.25 million.
A joint news release from Wal-Mart and the plaintiffs’ attorneys on Thursday said the settlement concludes seven years of litigation over Wal-Mart’s employment practices in Minnesota.
About 100,000 people who worked for Wal-Mart in Minnesota from Sept. 11, 1998 until Nov. 14, 2008, are eligible for a share of the settlement.
Dakota County District Judge Robert King Jr., filed the final approval Monday. He ruled last summer that Wal-Mart cut workers’ break times and failed to prevent employees from working off the clock.
Wal-Mart has faced dozens of similar lawsuits across the country.
Michaels returns to profit in Q1
IRVING, Texas Michaels Stores reported net income of $4 million, for the first quarter of fiscal 2009, an improvement of $24 million from a net loss of $20 million in the first quarter of fiscal 2008. Total sales for the quarter were $852 million, a 0.6% increase from fiscal 2008 first quarter sales of $847 million. Same-store sales for the comparable 13-week period decreased 2% of which 1.7% was related to the negative impact of foreign exchange rates.
John Menzer, CEO, said, “Our operating units performed relatively well, which were offset by the continued negative impact of a weakened Canadian dollar. We were very encouraged with the sales in a number of key categories, including beads and jewelry making, impulse items and wall frames. Our new marketing and merchandising programs are connecting with the Michaels customers and have helped drive an increase in customer transactions, even in today’s difficult retail environment.”
Walmart unveils exclusive Miley Cyrus line
BENTONVILLE, Ark. Walmart announced the introduction of Miley Cyrus & Max Azria, a new clothing line available only at Walmart. The line will arrive in all Walmart stores and on Walmart.com in early August, and includes tops, pants, graphic tees, shoes and accessories, all priced less than $20.
“Our launch of the Miley Cyrus & Max Azria line continues our strategy of engaging customers across categories,” said John Fleming, EVP and chief merchandising officer, Walmart U.S. “This time, we’re bringing together a leading entertainer and a top apparel house to bring exciting product and price leadership to our customers.”
Complementing the Miley Cyrus & Max Azria announcement, Walmart will be the title sponsor of the Miley Cyrus concert tour.