AutoZone shares have traded above $500 for most of the year but the company remains an aggressive purchaser of its own stock and recently authorized the expenditure of $750 million to buy even more shares.
In his first full quarter as CEO of the nation’s largest supermarket retailer, Rodney McMullen had the pleasure of reporting sales and profits that exceeded estimates and increasing the growth forecast for a company that was already poised to surpass annual sales of sales of $100 billion.
The National Retail Federation (NRF) had forecast that Father's Day spending would shrink this year, reaching just $12.5 billion. But it looks like the smallest of gift-giving holidays fared better than expected.
The National Retail Federation (NRF) and the Retail Industry Leaders Association (RILA) have asked an appeals court to overturn a federal judge’s approval of a lawsuit settlement regarding Visa and MasterCard’s credit card swipe fees, saying it was negotiated by only a handful of merchants and would do nothing to bring the fees under control.
The Securities and Exchange Commission (SEC) has charged four Northern California residents with insider trading in Ross Stores stock options based on nonpublic information about monthly sales results leaked by one of the retailer’s employees.
All 10 members of Target’s board of directors were re-elected at the retailer’s annual meeting on June 11, but there was strong opposition to several members and a proposal requiring an independent chairman nearly passed.