Consumer Affairs & Relations

The Clorox Company has updated its strategic growth plan. Called the 2020 Strategy, it focuses on delivering long-term, profitable growth through the year 2020 and builds upon the company's recently completed centennial strategy.

Garden City, N.Y. — Beth L. Lamport, 70, executive VP with Sabre Real Estate Group LLC died Sept. 27 at her home in Port Washington.

The cause was uterine cancer. “She was a dynamo in the business,” said Kenneth Breslin, a Sabre principal.

Plano, Texas – J.C. Penney Company shareholder Alan Marcus is suing the troubled department store chain because of its recent decision to build equity by issuing more than $800 million worth of new stock, which sent share values plunging, Reuters reported.    

The report said Marcus, who bought 300 shares of Penney stock on Sept. 26 shortly before the new stock was announced, is trying to obtain class-action status for his suit.
     

Springfield, N.J. – Village Super Market reported net income of $6.2 million during fourth quarter 2013 and $25.8 million during the full fiscal year. These figures were respectively down 31% from $9 million and 18% from $31.4 million year-over-year.

The retailer cited the negative impact of higher expenses and lower gross profits as contributing to its drop in net income.

J.C. Penney is making headlines again thanks to shareholder Alan Marcus, who is suing the troubled department store chain because of its recent decision to build equity by issuing more than $800 million worth of new stock, which sent share values plunging, Reuters reported.

The report said Marcus, who bought 300 shares of Penney stock on Sept. 26 shortly before the new stock was announced, is trying to obtain class-action status for his suit.

Shares of Burlington Stores surged more than 40% in their first day of trading as the company executed an initial public offering on Wednesday.

The retailer operates 503 stores primarily under the name Burlington Coat Factory and sold 13.3 million shares that were priced at $17, slightly above an earlier range of $14 to $16. The limited number of shares contributed to strong demand and at the open the stock price popped more than 40% and closed at $25.13.

Proceeds from the sale were estimated to total roughly $205 million which the company planned to use to repay debt.

Washington, D.C. – The National Retail Federation welcomed a new study that shows retailers have passed along the majority of the savings from debit card swipe fee reform to their customers, and that the resulting increase in consumer spending has boosted job creation across the country.

But the study also shows that benefits for consumers and the economy could have been much larger if the Federal Reserve had set its cap on debit swipe fees lower as directed by Congress.

Rochester, N.Y. - Teamsters Local 118 members on Monday overwhelmingly rejected a contract offer from Wegmans Food Markets, Inc. that would eliminate the pensions of more than 900 Rochester employees and not provide health care for their spouses. Local 118 will immediately request the participation of the Federal Mediation and Conciliation Service to settle the outstanding contract.

Plano, Texas – Financial woes continue to plague embattled J.C. Penney Company as hedge fund Perry Capital cut its stake in the retailer by nearly half, selling nine million shares of Penney stock last week.

New York – At least three law firms and a settlement claims filing service have filed class action suits  on behalf of purchasers of Francesca's Holdings Corporation common stock during the period between March 20, 2013 and September 3, 2013. Suits filed by law firms Morgan & Morgan, Federman & Sherman, and Ryan and Maniskas, LLP, as well as by The Shareholders Foundation, Inc., in the District Court for the Southern District of New York allege violations of federal securities laws in regard to poor second quarter financial results released on Sept.