U.S. Court Approves Ahold Settlement
New York City, Since November 2005, Dutch retailer Ahold and its shareholders have been waiting for court approval for their $1.1 billion class-action settlement related to the Dutch retailer’s accounting scandal from 2003.
It finally came.
The retailer said the U.S. Maryland District Court granted preliminary approval of the agreement on Monday.
Ahold generates 70% of its sales in the United States, where it operates the Stop & Shop, Giant and Tops supermarket banners. It was revealed back in 2003 that the company overstated profits by some $1.2 billion, a revelation that sparked shareholder lawsuits.
Wal-Mart Settles With Overcharged Customers
Bentonville, Ark., As settlement with Wisconsin customers overcharged for bulk items such as grapes and grind-it-yourself coffee, Wal-Mart has agreed to pay $25,117.
State weight inspectors discovered that Wal-Mart was adding the weight of the bag when calculating charges by weight for the bulk products. For commodities sold by weight, the declared weight must be exclusive of the packaging.
Read All About It: Shrink Mitigation
New York City, Of all the problems faced by retailers, one of the biggest is shrink. Business process are at the heart of limiting the damage, according to Cisco executives Dean Sivara and Ed Jimenez. Their article “Cutting Shrink Down to Size,” describes how integration and mobility reduce shrink-related losses and boost profitability. For the complete article, click on the “Guest Commentaries” tab at the top of the page.