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Wal-Mart to cut 7,000 back-office store jobs

  Bloomberg Wal-Mart Stores Inc. will relocate about 7,000 back-office workers as the world’s largest retail chain tries to make its stores more efficient. The employees — a handful at each of its 3,500 supercenters — will be moved to other parts of the stores, according to Deisha Barnett, a spokeswoman for the Bentonville, Arkansas-based company. The workers’ pay could ...

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Mall Group wins Aeropostale auction with $243.3mn bid

  Bloomberg A consortium led by Simon Property Group Inc. and General Growth Properties Inc. won an auction for the assets of Aeropostale Inc., with a plan to keep open at least 229 of the bankrupt teen retailer’s stores. The bidding group will also keep the chain’s online business and licensing operation up and running, according to a statement. The ...

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Computer snag cuts Delta’s $100mn revenue

  Bloomberg Delta Air Lines Inc. said the computer failure that caused 2,300 flight cancellations last month cut sales about $100 million and reduced a key revenue figure. Passenger revenue for each seat flown a mile, an industry benchmark, fell 9.5 percent in August, in part because of the outage and subsequent recovery efforts, the carrier said in a statement ...

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