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• Seiyu, the Japanese subsidiary 53 percent owned by Wal-Mart, reported an annual net loss that was the equivalent of $468.8 million (US), more than triple to loss reported during the retailer’s last fiscal year. At the same time, annual sales were down 3.6 percent to the equivalent of $8.07 billion (US), though same stores sales were up for the first time in 15 years, by 0.6 percent.

"It was a year where we saw significant change," Seiyu CEO Ed Kolodzieski told a news conference. "Unfortunately, we fell short of both our sales target and our profit target for the year."

Wal-Mart has so far invested more than $1 billion (US) in Seiyu, and Kolodzeiski projected that the Japanese chain will become profitable during the current fiscal year.

• Campbell Soup reported second quarter earnings of $284 million, up 18.8 percent from $239 million during the same period a year ago. Q2 sales were $2.52 billion, up 4.3 percent from the second quarter of fiscal 2006 when sales were $2.16 billion.

Ironically, the company noted, sales and profits were driven by strong demand for foods like Godiva candy, Goldfish crackers, and chocolate chip cookies, not the healthier products that the company has been introducing.

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