January 15, 2000 |
Wal-Mart Stores Inc. said David Glass, who expanded the discount chain beyond its rural roots into the world's largest merchant, will step down as chief executive and president after 12 years. He will be succeeded by H. Lee Scott Jr. Glass, 64, joined the retailer in 1976 and took over from founder Sam Walton in 1988. Scott, 50, has been with Wal-Mart for two decades and is best known for his expertise in using logistics to squeeze costs.
July 12, 2004 |
One report due out this week is expected to show that retail sales fell last month, with economists polled by Reuters forecasting a 0.6% decline and economists surveyed by Bloomberg News predicting a 0.7% dip. Another report may indicate that manufacturing production stalled in June. And economists predicted that inflation data could show that consumer prices have drifted higher. As for industrial production, analysts predict the numbers will be flat for last month.
CALIFORNIA | LOCAL
January 4, 1995 |
A Pomona couple was arrested in connection with the death of their 5-week-old son, who apparently had been severely beaten, police said Tuesday. Denise Michelle Bale, 21, and Daniel Lee Scott, 26, who have two other children, were arrested Monday morning on suspicion of felony child endangerment after Robert Scott was hospitalized with multiple bone fractures to the head and upper torso, Pomona Police Sgt. Michael Ervin said.
June 4, 2005 |
Wal-Mart Stores Inc. said Friday that it needed to clean up its stores, treat employees well and bring in more upscale goods such as organic food and trendy clothes to revive sales and profit growth. Executives at the world's biggest retailer said their game plan for this year involved targeting wealthier shoppers who may buy basics such as food at Wal-Mart but look elsewhere for fashionable items such as clothing and housewares.
November 4, 1994 |
"Double Dragon," a clever and lively adaptation of the popular video game, takes its title from an ancient Chinese talisman that has been broken in half. Rejoin the two pieces, and you can turn yourself into a veritable Superman. That's just what evil tycoon Koga Shuko (Robert Patrick), who possesses one half, has in mind. It's 2007, seven years after the Big Quake, and Shuko needs the whole talisman to bring "New Angeles' " roving gangs under his control.
CALIFORNIA | LOCAL
January 25, 1997 |
Seventeen people were arrested in a series of early morning raids Friday that police described as a crackdown on a major methamphetamine network that extended throughout northern Orange County and into Riverside County.
November 6, 2007 |
A former Wal-Mart ad executive has decided to drop her breach-of-contract lawsuit against the world's largest retailer, saying the lawsuit had become financially draining and more complex than she had expected. "I just decided not to pursue it," Julie Roehm said Monday. She wouldn't elaborate beyond a prepared statement saying that her lawsuit had wound up going beyond her effort to recover $1.5 million in severance pay.
May 1, 2012 |
One more piece of bad news for Wal-Mart Stores Inc.: A group of New York City pension funds, alarmed over allegations of widespread bribery by company officials in Mexico, said they would vote against reelecting five Wal-Mart directors. The pension officials plan to wield their 4.7 million Wal-Mart shares (and votes) next month at the retail giant's annual shareholders meeting to oust directors who had failed to provide adequate legal oversight over the company's vast operations, according to the New York Times.
February 28, 2005
Leave it to the genius of Wal-Mart CEO H. Lee Scott Jr. to identify the source of the poor morale among Wal-Mart "associates" (Feb. 24). It's not the minimum-wage pay, lack of benefits, the repeated labor law violations by the company, or the take-no-prisoners attitude of management that would rather close stores than accede to workers' demands for decent compensation. No, the real source of his workers' poor morale is the union activists who are so impolite as to point these things out!
May 13, 2005 |
Wal-Mart Stores Inc. said Thursday that fiscal first-quarter earnings rose 13.6%, below analysts' estimates, as high gasoline prices hurt sales. The company also warned that results in the current quarter probably would suffer. Rival discounter Target Corp., however, beat profit estimates for the quarter. Net income at Wal-Mart, the world's largest retailer, increased to $2.46 billion, or 58 cents a share, in the quarter ended April 30 from $2.17 billion, or 50 cents, a year earlier.