Briefcase: News of overcharging dings Whole Foods sales

NEW YORK – Whole Foods says its sales are hurting from bad publicity over its overcharging of customers in New York City.

The grocery chain known for its organic offerings noted that sales growth slowed sharply in the last two weeks of the quarter ending July 5. That was after New York City officials said an audit found the chain’s stores were overcharging customers by overstating the weight of prepacked products – a finding that Whole Foods noted made national news. The company said sales at established locations were still weak in the current quarter.

“There’s no magic bullet for restoring whatever trust was lost,” co-CEO Walter Robb said during a call with analysts and investors.

Robb noted the company has taken actions to ensure the overcharging doesn’t happen again, such as training for workers and an offer to customers that products will be free if the prices are not accurate and not in their favor.

University of Phoenix facing investigation

WASHINGTON – The University of Phoenix, an online college popular among military veterans, is under federal investigation for possible deceptive or unfair business practices, its parent company the Apollo Education Group announced Wednesday.

The for-profit, publicly traded company is the largest recipient of federal student aid for veterans and often a sponsor at military education and employment events. Since 2009, the University of Phoenix has taken in more than $488 million in tuition and fees.

In a filing to the Securities and Exchange Commission, the company told shareholders it received a “civil investigative demand” from the Federal Trade Commission this week. According to the document, investigators asked for information on a “broad spectrum” of matters, including marketing, recruiting, enrollment, financial aid, tuition, academic programs, billing and debt collection, and more. The filing lists “military recruitment” as one of the areas the FTC is examining.

Comments top 1 million on $10 bill redesign

WASHINGTON – Treasury Secretary Jacob Lew said Wednesday he’s gotten more than a million responses to his request for comments on how U.S. currency should be redesigned and recommendations for what woman should become the first female on U.S. paper money in more than a century.

Lew said it has been a “remarkable outpouring” of everything from tweets and retweets to handwritten letters. He said among the “interesting commentary” are suggestions to replace some of the buildings now on the currency with more direct depictions of the democracy theme that will be used in the redesign.

Lew set off a furor in June by announcing a redesign of the $10 bill that would replace the portrait of Alexander Hamilton with a woman.

Lew said a decision is still expected “in the very near future.” Lew said while a woman’s portrait will be placed on the $10 bill, Hamilton will still be honored in some way.

Disneyland Paris under pricing scrutiny

BRUSSELS – The European Union is looking into complaints that Disneyland Paris is unfairly charging different prices for consumers depending on what nation the request comes from.

Even if charging different prices in different member states for the same product is not necessarily illegal, the reasons for doing so must be clear and transparent, said EU spokeswoman Lucia Caudet on Wednesday.