FINANCE

Report: Wal-Mart exec who called sales ‘total disaster’ has left

BY Katherine Boccaccio

New York — A Wednesday report by Reuters said that Jerry Murray, the Wal-Mart finance VP who called the chain’s early February sales "a total disaster" in an email made public by Bloomberg, has left the company, effective April 5.

Wal-Mart Stores has confirmed the report, telling Reuters that it was Murray’s decision to leave and that his last day at Wal-Mart was Friday.

"In case you haven’t seen a sales report these days, February (month-to-date) sales are a total disaster," Murray said in a Feb.12 email to other executives, Bloomberg reported on Feb.15. "The worst start to a month I have seen in my (about) seven years with the company.

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OPERATIONS

Alco Stores moving corporate headquarters to Texas

BY Katherine Boccaccio

Abilene, Kansas — Alco Stores Inc. said Wednesday it is moving its corporate headquarters from Abilene, Kan., to a suburb of Dallas, citing the need to be “in a more metropolitan area.”

The new Coppell, Texas offices will give the company easy access to many of its stores, other major retailers and transportation for its workers and business partners, CEO Rich Wilson said in a Wednesday statement.

The move is slated to occur in June.

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FINANCE

RILA: President’s budget falls short on tax reform

BY CSA STAFF

Arlington, Va. — A statement by The Retail Industry Leaders Association regarding President Obama’s 2014 budget proposal was issued Wednesday, saying, “While we applaud the President for recognizing the urgent need for revenue neutral corporate tax reform, his proposal falls short of the bold reforms needed.” said Bill Hughes, SVP government affairs.

“Comprehensive tax reform, which reduces rates for individuals and pass-through entities as well as corporations, is the best way to stimulate economic growth, ease burdens on consumers and allow businesses to create jobs,” Hughes added.

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