Wal-Mart Stores' new CEO of U.S. stores, Eduardo Castro-Wright, says the 3,000-plus chain doesn't serve its customers well. The executive, who came from Wal-Mart's Mexican division, seeks to improve the shopping experience and store productivity by better matching merchandise to its clientele's tastes, improving the display of goods and relying more on part-time workers.
Boston-area grocer Americas' Food Basket has filed for Chapter 7 bankruptcy, a city official said. The ethnic foods specialty grocer was forced to close its three stores because of slow sales and rising debt.
Lifeway Foods Inc., which produces the dairy drink Kefir, will begin selling its products in a test market of Costco Wholesale stores in the Midwest this week. Shares of Lifeway grew nearly 10% on the Nasdaq with the news.