Wal-Mart changes date of fourth quarter dividend payment
Bentonville, Ark. — Wal-Mart is changing the date that its fourth-quarter dividend will be paid. The company said that the quarterly dividend of 39.75 cents per share will now be paid on Dec. 27 instead of on Jan. 2, 2013. The dividend will still be paid to shareholders of record on Dec. 7.
According to a report by the Associated Press, Wal-Mart may be taking the action to avoid a higher tax rate on the dividend if there’s no agreement on the fiscal cliff.
Cache selects RetailNext for in-store traffic management
San Jose, Calif. — RetailNext announced that specialty retailer Cache has chosen RetailNext for its in-store traffic management and real-time monitoring system. The retailer is currently rolling out RetailNext’s platform across the majority of its stores in 43 states.
"Until recently we’ve been testing traffic counters in a limited number of our stores," said a Cache spokesperson. "We’re excited to be rolling out traffic counters to most of the Cache chain. We believe that installing the RetailNext system will provide us with better information and intuitive access to data that we have not had available before this roll-out. We expect that we will be able to uncover opportunities for improving the shopping experience that otherwise would be invisible to us."
Lowe’s posts higher-than-expected Q3 sales and profits
New York — Lowe’s Cos. said Monday that its third-quarter net income jumped 76%, helped by lower costs and higher revenue. Its adjusted earnings without charges and its revenue both beat Wall Street forecasts.
Lowe’s earned $396 million for the three months ended Nov. 2. That compares with $225 in the year-ago period. Revenue rose 2% to $12.07 billion from $11.85 billion. Same-store sales were up 1.8%.
Lowe’s has been retooling its pricing strategy, and last summer returned to offering permanent low prices on many items across the store, instead of offering promotional discounts.
"We are keenly focused on improving our core business," said CEO Robert A. Niblock. "Our level of execution is improving and we delivered solid results in the third quarter."