Former Lowe’s employee arrested for larceny
A former Lowe’s delivery manager in Wilkesboro, N.C., has been accused of selling store merchandise on eBay and using the company’s shipping system to send the items to buyers.
According to a report in the Winston-Salem Journal, Bryan Norman, 28, admitted to police that he would post items on eBay and then take them off the shelf when they sold. Then Norman would go to the store’ Internet sales area in the receiving department and process the order, according to the newspaper.
The thefts had been going on since September 2009 and ended on Sept. 9, 2011, according to court records. The wholesale cost of the allegedly stolen items was $57,451. They were described as mostly small appliances, including Dyson vacuums.
Norman turned himself in on Oct. 5 and has been charged with six felony counts of larceny by an employee, according to the newspaper.
Griffon acquires Southern Patio
Griffon Corp. has announced the acquisition of the pots and planters business of Southern Sales & Marketing Group, which markets its products under the Southern Patio brand name ("Southern Patio")
Southern Patio will be integrated into Griffon’s subsidiary, Ames True Temper, a manufacturer and marketer of branded non-powered lawn and garden tools, wheelbarrows, and other outdoor work products to the retail and professional markets.
A designer, manufacturer and marketer of landscape accessories, Southern Patio recorded revenues for the fiscal year ended Sept. 30 exceeding $40 million. Total purchase consideration approximated $23 million. Griffon expects the transaction to be immediately accretive to cash flow and earnings per share.
Wal-Mart China CEO stepping down
Wal-Mart Stores has announced that the president of its China unit is stepping down. A company spokesman said the resignation was unrelated to a Chinese government food safety case against several Wal-Mart stores.
Ed Chan, CEO of Wal-Mart China, left for personal reasons, the company said. Scott Price, president of Wal-Mart Asia, will fill the position in the interim.
The departure comes after authorities in the city of Chongqing arrested two employees, closed 13 stores for two weeks and fined the retailer 2.7 million yuan ($421,000) on charges of mislabeling regular pork as higher-priced organic meat.
Clara Wong, SVP personnel at Wal-Mart China, also resigned. Rose said that departure also was unrelated to the Chongqing case.
Chan oversaw Wal-Mart China’s expansion from 70 stores and 30,000 employees to 353 stores and a work force of nearly 100,000.