Subscribe to Business RSS feed

Business

Simmons to merge subsidiary banks

Pine Bluff-based Simmons First National Corp. announced in a Wednesday filing with the U.S. Securities and Exchange Commission that it intends to consolidate its seven subsidiary banks into a single banking organization.

Third round of layoffs at Acxiom begins

A third, and likely final, wave of layoffs at Little Rock-based Acxiom Corp. began on Wednesday as the database marketer continued its push to realign its work force to meet changing industry demands. Acxiom indicated in November 2013 it would cut its overall labor force by March in an effort to save $20 million to $30 million annually. Approximately 200 workers nationwide were part of the latest round of layoffs with around 100 in Arkansas.

Walmart profits tumble

Revenues grew modestly, but profits took a tumble as Walmart reported its fourth-quarter and full-year financials. The Bentonville-based retail giant reported fourth-quarter net income of $4.43 billion on sales of $128.8 billion, an increase of 1.4 percent over last year. The quarter included the negative impact of about $1.8 billion from currency exchange rate fluctuations. Last year Walmart posted fourth-quarter profits of $5.86 billion on revenue of $127.77 billion.

Former USA Drug magnate Stephen LaFrance dies unexepectedly

Retired USA Drug magnate Stephen LaFrance Sr. of Pine Bluff unexpectedly passed away in his sleep Tuesday night. LaFrance, 71, had sold his massive USA Drug franchise and warehousing business in July 2012 for $438 million to Walgreen's. The transaction included 144 stores operating under the USA Drug, Super D Drug, May's Drug, Med-X and Drug Warehouse stores located in Arkansas, Kansas, Mississippi, Missouri, New Jersey, Oklahoma and Tennessee.

Wal-Mart tops Fortune 500 list, Windstream joins ranks

Wal-Mart has been ranked No. 1 on the 2013 Fortune 500 list of largest U.S. companies ranked by revenue. The Bentonville-based retail giant reclaimed the top spot from ExxonMobil. In fiscal year 2012, Wal-Mart posted revenues of $443.9 billion, a 5.9 percent gain. Also, Little Rock-based Windstream Corp. joined the rankings for the first time at No. 414. Other Arkansas firms on the Fortune 500 list include Tyson Foods (No. 93), Murphy Oil (No. 104), Dillard's (No. 378), and J.B. Hunt (No. 486).