ON THE MONEY

Fitbit planning IPO, seeking nearly half a billion

Fitbit is getting in shape for its debut as a public company.

The maker of wearable devices that collect data on exercise and sleep patterns is seeking to raise as much as $478 million in an initial public offering. Fitbit plans to offer 29.85 million Class A shares for $14 to $16 apiece, according to a prospectus filed Tuesday, valuing it at $3.3 billion on the high end.

The San Francisco company, which posted $745 million in revenue last year and over $100 million in net income, is expected to price its IPO on June 17.

Toys ‘R’ Us getting new CEO July 1

Toys “R” Us named David Brandon, 63, as its next chief executive, turning to the former leader of Domino’s Pizza to continue a turnaround attempt at the closely held toy retailer.

Brandon will take over July 1, when current CEO and Chairman Antonio Urcelay retires, the company said.

The chain has posted revenue declines during the past three holiday seasons, its biggest sales period.

Samsung sells 6M Galaxy S6 phones since launch

Sales of Samsung Electronics’ flagship Galaxy S6 smartphones reached a solid 6 million units at the end of April, less than a month after their launch, research firm Counterpoint said Tuesday.

The positive start is expected to help the world’s top smartphone maker regain momentum following a disappointing 2014.

The combined sales of S6 and S6 edge from the April 10 launch to April 30 were better than Galaxy S5’s sales in the same period of 2014. They were also the most popular smartphone models globally after Apple’s iPhone 6 and iPhone 6 Plus.

Walmart workers getting a minimum wage hike

Walmart will raise minimum wages for more than 100,000 of its U.S. workers in some departments beginning in July, the second time the world’s largest retailer has announced a wage hike this year.

The chain said it will increase the wages of managers of service-oriented departments such as electronics and auto care to $13 to $24.70 per hour from $10.30 to $20.09 currently. Hourly wages of managers of departments such as clothing and consumer products will rise to $10.90 to $20.71 from $9.90 to $19.31.

U.S. factory goods orders take a tumble in April

New orders for U.S. factory goods fell 0.4% in April as demand for transportation equipment and other goods weakened, suggesting that manufacturing remained constrained by a strong dollar and spending cuts in the energy sector.