News

Wal-Mart Canada Store to Vote on Unionization

BY CSA STAFF

Windsor, Ontario, Wal-Mart workers in Windsor, Ontario, will soon vote on whether to be represented by a union. The United Food and Commercial Workers Canada (UFCW) today said that it filed an application for certification with the Ontario Labor Relations Board, and an employee vote on unionization is expected to happen as early as next week.

When a Wal-Mart store in Jonquiere, Quebec, unionized early last month, the company closed the store, arguing that union demands were threatening the store’s business. Shortly thereafter, the Quebec Labour Relations Commission told Wal-Mart Canada to stop intimidating employees who wished to unionize. The UFCW has successfully unionized a Wal-Mart branch in Saint-Hyacinthe, Quebec, and said it has 12 other applications for certification pending with the labor board.

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FINANCE

America’s Car Mart Names Director

BY CSA STAFF

Bentonville, Ark., America’s Car Mart Inc. elected William M. Sams to its board of directors. Sams is a former president and chief investment officer of FPA Paramount Fund Inc. and executive VP of both First Pacific Advisors Inc. and FPA Perennial Fund Inc.

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E.Ako says:
Mar-21-2013 02:28 pm

I hope in his supervision
I hope in his supervision there will be a good changes to the betterment of the company. Choosing him is that he really deserves the position and he has all the requirements. - JustFab

E.Ako says:
Mar-21-2013 02:28 pm

I hope in his supervision there will be a good changes to the betterment of the company. Choosing him is that he really deserves the position and he has all the requirements. - JustFab

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FINANCE

BJ’s, Others Report Earnings

BY CSA STAFF

Natick, Mass., BJ’s Wholesale Club Inc. recorded fourth-quarter net income of $49.2 million, down 4.5% from the year-ago period. The figure includes $7.2 million in one-time charges related to a change in the retailer’s lease accounting. Sales increased 7% to $2.01 billion, supported by a 3.4% increase in same-club sales. For the year, BJ’s posted net income of $114.4 million, up 11.2% from the year before. Sales rose 10.2% to $7.2 billion on the strength of a 6% rise in same-club sales.

In other earnings news:

• Payless ShoeSource Inc. reported a net loss of $26.5 million in the fourth quarter of its 2004 fiscal year, compared with a net loss of $17.2 million in the same quarter the year before. The loss includes restructuring charges of $23.9 million before taxes. Sales fell 1.7% to $617.7 million in the quarter and same-store sales dipped 2.3%. For the full year, the footwear retailer posted a net loss of $2 million, vs. a $100,000 loss the year before. This year’s net loss includes $67.9 million in pre-tax restructuring charges. Sales were flat at $2.66 billion despite a 0.5% decline in same-store sales.

• United Retail Group posted fourth-quarter net income of $697,000, vs. a $4 million loss in the same quarter from the previous year. Net sales rose 6.4% to $107.9 million on the strength of 8% comps growth. For the full year, the retailer narrowed its loss to $10.5 million from $19.1 million the year before. Sales increased 0.8% to $399.3 million on same-store sales growth of 2%.

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E.Ako says:
Mar-21-2013 02:32 pm

It is stated the sales is
It is stated the sales is high and increasing. While the company is increasing its profit, its competitor is experiencing a loss. - JustFab

E.Ako says:
Mar-21-2013 02:32 pm

It is stated the sales is high and increasing. While the company is increasing its profit, its competitor is experiencing a loss. - JustFab

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Consumer confidence is high. Is that reflected in your stores’ revenues?

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