Wal-Mart to Debut Cloth Shopping Bags
Bentonville, Ark., Wal-Mart plans to unveil its first recyclable cloth shopping bag this weekend, part of the company’s efforts to become eco-friendly, according to the Chicago Tribune.
The black bags touting a slogan, “Paper or Plastic? Neither.” will be available near checkout counters for $1 each as an alternative for shoppers averse to using plastic bags, the report said.
The pending arrival of the shopping bag was disclosed after a daylong “sustainability summit” at a conference center near Wal-Mart’s headquarters. The event, the first of its kind for the company, focused on how Wal-Mart is changing its practices to help the environment, from working with suppliers to use less plastic packaging to cutting back on electricity usage, the report said.
Sept. sales up 9.7% for Wal-Mart, raises outlook
BENTONVILLE, Ark. Wal-Mart Stores today reported net sales of $34.4 billion for September period ended Oct. 5, an increase of 9.7% over sales of $31.4 for the same period last year.
The company reported that comparable-store sales for September increased 1.4%, excluding fuel.
The company it expects the comparable-store sales of its U.S. operations for the October four-week reporting period to be between flat and 2 %, said Tom Schoewe, evp and cfo.
“We estimate that earnings per share from continuing operations for the third quarter of fiscal year 2008 will change from within our previously stated guidance of 62 cents to 65 cents to a range of 66 cents to 69 cents,” Schoewe said. “For the first two months of the quarter, we have seen improvement in initial margin and expense leverage at the Wal-Mart Stores division, which is driving this change.”
Banana Republic exec to head Kate Spade
NEW YORK Liz Claiborne today announced that Deborah Lloyd, former evp of design and product development for Banana Republic, will join the company as co-president and creative director of Kate Spade, effective Nov. 1.
Lloyd will oversee all creative aspects of the Kate Spade and Jack Spade Brands, including, product design, merchandising, creative services and public relations. She will report directly to William McComb, ceo of Liz Claiborne.
Lloyd joins Kate Spade after a six year tenure at Banana Republic where she had responsibility for driving design for all products, for both the women’s and men’s businesses, including accessories and fragrance. Prior to Banana Republic, she spent five years at Burberry, where she was instrumental in re-launching Burberry’s Women’s London Collection, while working closely with Rose Marie Bravo in reinvigorating that business.
Lloyd said: “This opportunity came at a time when only something as creative and entrepreneurial as this could have pulled me away from my present role. What was so compelling was the instant connection that I had to the brand, and I love what it stands for. I really believe Kate Spade is a jewel, and I am very excited to further develop it as a lifestyle brand.”