Judge won’t reopen RadioShack auction

WILMINGTON, Del. — A Delaware bankruptcy judge has refused to reopen an auction for the sale of RadioShack’s intellectual property, including trademarks and data on millions of customers.

Wednesday’s ruling involved an auction last week that ended with General Wireless, an affiliate of hedge fund Standard General, declared the winner with a bid of $26.2 million.

General Wireless also is acquiring more than 1,740 of the electronics retailer’s stores.

Another bidder, Wonderland Investment Group, complained that the intellectual property auction was improperly changed when potential buyers were told, after several rounds of open bidding, to submit final sealed bids.

Wonderland, which offered $30 million after the auction, asked the judge to reopen the bidding, which could have upset a settlement agreement with state attorneys general to protect the privacy of RadioShack customers.

McDonald’s workers protest low wages

OAK BROOK, Ill. — Hundreds of protesters marched around McDonald’s suburban Chicago headquarters Wednesday, shutting down at least one building on the corporate campus as they called for pay of $15 an hour and a union.

About 100 protesters were arrested for trespassing as they temporarily blocked two streets around the McDonald’s campus a day before the company’s annual shareholder meeting. McDonald’s closed a nearby restaurant because of traffic concerns, and told employees in a building targeted by protesters they should work from home, company spokeswoman Heidi Barker Sa Shekhem said.

The campaign for $15 an hour and a union began in late 2012 and has involved a range of tactics, including demonstrations in cities around the country.

Authorities estimated up to 2,000 people took part in Wednesday’s demonstration, some carrying signs declaring, “We are worth more.”

Target turnaround plan starts strong

MINNEAPOLIS — Don’t give Lilly Pulitzer the credit for Target Corp.’s surprisingly strong first quarter.

Though the Minneapolis retailer created headlines, and some headaches, in last month’s blast sale with the designer, executives said a number of lower-profile initiatives helped it through the shopping lull of late winter and early spring.

Its results Wednesday outshone those of Wal-Mart and several other retailers.

In the February-to-May quarter, Target reported a 52 percent increase in profit to $635 million. Revenue was up 3 percent to $17 billion and same-store sales were up 2.3 percent.

Target had an easy comparison on its side. A year ago, it was grappling with losses in its Canadian stores and the lingering effect on its reputation from the data breach that happened at the end of 2013.

“The momentum we’ve seen so far makes us more confident than ever that we’re moving in the right direction and encourages us to move even faster,” chief executive Brian Cornell told investors in a conference call.

From combined wire services