FINANCE

Report: Barack Obama Urges Tesco to Work With Unions

BY CSA STAFF

London Presumptive Democratic presidential nominee Barack Obama has urged Tesco CEO Sir Terry Leahy to meet with the United Food & Commercial Workers Union (UFCW) over employment rights at its Fresh & Easy Neighborhood Market stores in the United States, according to the Daily Telegraph.

“I again urge you to reconsider your policy of non-engagement in the United States and advise your executives at Fresh & Easy to meet with the UFCW,” Obama wrote in the letter, the report said.

“I am aware of Tesco’s reputation in Britain as a partner to unions. I would hope that you would bring those values to your work in America,” Obama added.

The UFCW has backed Obama’s campaign in the past and has run television ad campaigns urging voters to support him.

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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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