FINANCE

Report: Wal-Mart antitrust hearings in South Africa delayed

BY CSA STAFF

Johannesburg, South Africa — A Tuesday report by Bloomberg said that hearings on a Wal-Mart Stores bid to acquire control of Massmart Holdings Ltd. will be adjourned to May 9, following an earlier announcement on Tuesday that the hearings would proceed this week.

After announcing that it will hear evidence from labor unions and Wal-Mart and Massmart this week and from the government on May 9 and May 10, South Africa’s Competition Tribunal now say the hearing has been adjourned to May 9.

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OPERATIONS

Wet Seal taps Gap veteran Seipel as president and COO

BY CSA STAFF

Foothill Ranch, Calif. — The Wet Seal announced Monday that it has hired Ken Seipel as president and COO, effective March 28.

Seipel will report to CEO Susan P. McGalla.

Seipel was previously president and chief merchandise/marketing officer of Pamida Discount Stores LLC, a regional general merchandise discount retailer. Prior to that, he was executive VP of stores, operations and store design for the Old Navy division of Gap.

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News

Macy’s joins list of retailers supporting Japanese relief efforts

BY CSA STAFF

CINCINNATI — Macy’s Inc. announced that it will make a corporate contribution of $100,000 in cash tothe American Red Cross for earthquake and tsunami relief on behalf ofMacy’s and Bloomingdale’s associates across America. In addition, the company said it will match,on a dollar-for-dollar basis, allemployee contributions of $25 or more to the American Red Cross andother U.S.-based organizations providing rescue and relief assistancein Japan.

The company added that Macy’s and Bloomingdale’s will support Polo Ralph Lauren’s efforts to help Japan byoffering a Ralph Lauren mesh Japan Relief polo shirt that will be soldto customers at select Macy’s stores, Bloomingdale’s stores and onmacys.com and bloomingdales.com. The shirt will sell for $98, with100% of the proceeds donated to Central Community Chest of Japan, partof United Way Worldwide.

"We are deeply moved by the series of recent events which are havingsuch a devastating effect on the people of Japan and we wish to offerour support to help them endure and recover from the widespreaddestruction of the earthquake and tsunami," said Terry Lundgren,Macy’s Inc. chairman, president and chief executive officer. "In timeslike these, the world comes together and we are always so proud to seethe outpouring of generosity by our company’s associates, customers andvendors. As Americans, we have a special relationship with the Japanese.We hope that our role in the larger international relief effort can helpalleviate the suffering and devastation of those who lost family,friends, homes, possessions and peace of mind."

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