Management

The Goochland County-based retailer filed for Chapter 11 bankruptcy protection last December. It's asked a federal bankruptcy court judge to approve the asset sale. The auction would be held June 25. RoomStore President and CEO Stephen Giordano tells the Richmond Times-Dispatch that the company is being offered for sale as a whole or in parts. Bid packages were sent to potential buyers last week.

The two top executives of Wal-Mart Stores gave shareholders their unequivocal commitment to get to the bottom of alleged bribery charges in Mexico that have surfaced against the company. "If any violations occurred, then appropriate actions will be taken. That is my personal commitment to each of you," S. Robson Walton Jr., chairman, said during the company's annual shareholder meeting here. "We will do the right thing the right way. You have my word on that."

New York-based Martha Stewart Living Omnimedia (MSLO) has appointed Michael Robinson to the newly created position of vice president of e-commerce. Robinson will be responsible for building out the company's e-commerce presence, including the site the company is jointly developing with J.C. Penney, which is slated to launch in 2013. He's reporting to Lisa Gersh, president and chief operating officer of MSLO. Robinson brings retail, direct-to-consumer and digital experience to MSLO. He joins the company from Anthropologie, where he built and managed the brand's website and catalog businesses.

A report by Reuters said that New York City's pension funds have filed a derivative lawsuit against Wal-Mart Stores Inc. based on reported allegations of bribery in Mexico and a possible cover-up by Wal-Mart officials. The suit, filed in Delaware Chancery Court, alleges that Wal-Mart's officers and board of directors breached their fiduciary duty to both the company and shareholders by failing to properly handle claims of alleged bribery and apparently attempting to cover up details of the issue. Wal-Mart could not be immediately reached for comment. 

Macy's has invested in the future of America by hiring more than 1,000 college and university students for its Executive Development Program (EDP) and for summer internships nationwide. The hires include 730 new college graduates for full-time EDP positions, which is an entry-level step in building a career as an executive with the company. In addition, 326 college students — primarily those between their junior and senior years — have joined Macy's and Bloomingdale's as interns in stores, merchandising, private brand development, dot-com, information technology, logistics, credit and corporate services functions. 

Tuesday Morning Corp. has ushered out its current CEO and is on the hunt for a new one, the discount retailer said Wednesday. It also announced several other management changes and lowered its guidance, which sent its shares plunging in after-hours trading.The company said that it relieved Kathleen Mason of her duties as president and CEO on Tuesday. She was appointed to the post in 2000.Michael Marchetti, 55, who is its executive vice president and chief operating officer, was promoted to president and chief operating officer. He will also serve as interim CEO.

Claire’s Stores Inc. has named James D. Fielding, former president of Disney Stores Worldwide, as CEO, effective June 18, 2012. Fielding, who resigned from Disney on Monday, will also join Claire’s board of directors. “I look forward to capitalizing on the many growth initiatives available to the company, including new stores, development of the Icing concept, continued international expansion in markets such as Mexico, India and China, and optimization of e-commerce,” Fielding said in a statement. 

WellPoint Inc., the second-biggest U.S. health plan, will acquire eyeglass and contact-lens retailer 1-800 Contacts to expand its consumer offerings as more people buy their own medical insurance.

The Boston-based private equity firm Thomas H. Lee Partners has agreed to acquire a majority stake in Party City Holdings Inc., Rockaway, N.J., in a deal valued at $2.69 billion.

Eddie Bauer announced that Michael R. Egeck has been named its President and Chief Executive Officer. Egeck was most recently CEO of Hurley International LLC, a leading marketer of action sports and youth lifestyle apparel, and a division of Nike, Inc. David Chamberlain, Executive Chairman of Eddie Bauer who has served as Interim CEO since February, will remain a member of the companys board of directors.