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Wal-Mart Tightens Standards on Gun Sales

BY CSA STAFF

Washington, D.C. Wal-Mart, the largest seller of firearms in the country, is striking a deal with New York Mayor Michael Bloomberg, an outspoken gun control advocate, on tighter standards for gun sales.

 Bloomberg is announcing the initiative Monday as he meets with Mayors Against Illegal Guns, a group he founded to try to crack down on the unlawful traffic of weapons that are often used in crimes.

Under the group’s Responsible Firearms Retailer Partnership, Wal-Mart Stores Inc. will agree to retain records of all sales in which guns are later found to be used in crimes, said mayoral spokesman Jason Post. The company will also conduct background checks on employees who handle guns.

The retailer said it will develop a first-of-its-kind computerized crime-gun trace log that will flag purchases by customers who have previously bought guns later recovered in crimes.

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Tuesday Morning promotes Bowman to cfo

BY CSA STAFF

DALLAS Tuesday Morning has promoted Stephanie Bowman to the position of evp and cfo. Bowman was previously serving as vp of finance for Tuesday Morning, prior to that she served as vp of finance for Summit Global Partners.

“Stephanie has an extensive knowledge of financial management and because of her current position with Tuesday Morning, understands the company’s systems, personnel, and culture. She is positioned to hit the ground running,” stated Michael Marchetti, evp, coo and acting cfo.

Tuesday Morning reported that net sales for the third quarter ended March 31 were $178.4 million compared to $189.2 million for the quarter ended March 31, a decrease of 5.7%. Comparable-store sales for the quarter ended March 31 decreased by 8.2% comprised of a 6.6% decrease in traffic and a 1.6% decrease in ticket.

Based on the third quarter sales results, the company currently expects diluted earnings per share for the third quarter to be in the range of (10 cents) to (12 cents).

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Best Buy names Mikan to to board

BY CSA STAFF

MINNEAPOLIS Best Buy has announced the appointment of Mike Mikan to its board of directors. Mikan currently serves as evp and cfo of UnitedHealth Group.

We are delighted to welcome Mike Mikan to Best Buys board of directors, said Richard Schulze, Best Buys founder and chairman of the board. With his deep financial experience, Mike will be a valuable addition to our board. We think his guidance and judgment will be important as we continue to grow Best Buy into the future. 

Mikan was appointed evp and cfo of UnitedHealth Group, in November 2006. Mikan previously served as cfo for UnitedHealthcare and chief financial officer for Specialized Care Services (now OptumHealth).

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