Wal-Mart Stores Inc. will pay up to $54.3 million to settle a class-action suit brought against it in Minnesota that alleged the firm reduced workers’ break time and let employees work off the clock.
Separately on Tuesday, the world’s largest retailer also said it was suspending a $15 billion share repurchase program. Wal-Mart said in a Securities and Exchange Commission filing that it is temporarily discontinuing a $15 billion stock repurchase program its board approved in May 2007 due to the economic environment and instability in the credit market. The company said that, as of Oct. 31, it still had about $5 billion remaining from the initial authorization.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)