OPERATIONS

Walmart launches ‘Real Walmart’ ad campaign

BY Katherine Boccaccio

Bentonville, Ark. — Wal-Mart Stores Inc. announced Monday that it has launched a new TV and digital ad campaign designed to demonstrate what the retailer describes as “The Real Walmart.”

The campaign also includes a dedicated website – therealwalmart.com – demonstrating how consumers rely on Walmart to save money, on the company’s career opportunities, and detailing how it creates efficiencies and works directly with manufacturers to help deliver low prices.

“We have wanted to do this for a long time because we know that people trust Walmart even more when they understand the opportunities we provide our associates, who the customers are that shop with us and how we deliver low prices," said Bill Simon , president and CEO of Walmart U.S.

A series of ads focuses on three key areas: consumers savings, career opportunities for Walmart associates, and price and efficiencies.

"The more we introduce people to what we do and how we do it, the more they understand the positive difference we can make for customers, associates and communities," said Simon.

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D.Wetzel says:
May-08-2013 09:57 am

Not all associates are given
Not all associates are given the same opportunities. That is why there is such a huge turnover in staff. Excessive sweating

D.Wetzel says:
May-08-2013 09:57 am

Not all associates are given the same opportunities. That is why there is such a huge turnover in staff. Excessive sweating

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News

Barington CEO to step into Jones Group board

BY CSA STAFF

NEW YORK — The Jones Group Inc. has nominated chairman and CEO of Barington Capital Group James A. Mitarotonda to stand for election to the board of directors at the company’s 2013 annual meeting of stockholders.

With the addition of Mitarotonda, the Jones board of directors will expand to 11 members, 8 of whom are independent, 10 of whom are non-management and all of whom are annually elected.

"We value Jim’s expertise in the retail, apparel and footwear industries and welcome his input as we continue to execute on our plan and drive results during this pivotal period of transformation for the Company. The Jones Group board of directors and management team are focused on improving profitability and enhancing shareholder value for the long-term," said Robert L. Mettler, chair of the nominating and corporate governance committee and presiding independent director of the board of directors.

"I am pleased to join the board of the Jones Group, a well-respected company with significant potential for future growth. I support the recent initiatives the company has taken and I look forward to working with my fellow directors to build value for all Jones Group stockholders," added Mitarotonda.

After joining the board, Mitarotonda will be serving on the audit committee.

Barington represents a group of investors who owns approximately 2.3% of the Jones Group common stock. As part of the agreement between the Jones Group and Barington, which gave Jones Group the go-ahead to nominate Mitarotonda, Barington has agreed to vote its shares in support of all the company’s director nominees at the 2013 annual meeting. Barington has also agreed to certain customary "standstill" provisions.

The annual meeting will be held June 14, and stockholders of record at the close of business on March 26 will be entitled to vote.

Mitarotonda co-founded Barington Capital Group, an investment firm, Nov. 1991. He currently serves as a director of A. Schulman, Inc. and The Pep Boys — Manny, Moe & Jack and is a former director of a number of publically traded companies, including Griffon Corporation, Gerber Scientific, Inc., Register.com, Inc. and Ameron International Corporation. Mitarotonda received an MBA from New York University’s Graduate School of Business Administration (now known as the Stern School of Business) and a BA in economics from Queens College, where he now serves as chairman of its business advisory board.

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FINANCE

Stein Mart restates results, to debut e-commerce this year

BY Katherine Boccaccio

Jacksonville, Fla. — Stein Mart reported Monday that it has restated its 2011 periods and first quarter 2012 results, released its full-year 2012 financial numbers, and said it will unveil several key initiatives in 2013.

For the fourth quarter, net income was $13.5 million, compared to $5.9 million last year. Sales surged 11.4% to $368.6 million from $331 million, and same-store sales increased 6% in the quarter.

For the full year ended Feb. 2, net income rose to $25 million from $19.9 million in the year-ago period. Sales rose 4.6% for the year to $1.23 billion from $1.18 billion, and same-store sales increased 2.7%.

The company reported that it plans to open four stores, close three and relocate four in 2013. Capital expenditures for 2013 are projected as $34 million, including $14 million for continuing information system upgrades, $5 million for distribution center equipment and software, and the remainder for new and relocated stores, store remodels and new fixtures.

A key initiative in 2013 will be the launch of Stein Mart’s e-commerce business in mid to late 2013 with a representative merchandise selection. The company will also transition its supply chain distribution centers from third-party to company-operated locations beginning in the second quarter.

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