Consumer Affairs & Relations

The OurPet's Company, a leading proprietary pet supply company, has promoted Gabriella DeSantis to VP of marketing.

DeSantis joined the company in July 2012 as senior director of marketing and has been responsible for overseeing the execution of the company's new two-brand marketing strategy. The company also credits her with the successful launch of several new products.

New York — Wal-Mart Stores found itself at the center of two national news stories this past weekend, both of which involved fatalities.

 On Saturday, June 7, a truck driver for Walmart was charged in the highway crash that left comedian Tracy Morgan critically injured and killed one of Morgan’s associates, comedian James McNair.

Activist investor Carl Icahn on Friday reported a 9.4% stake in Family Dollar, making him the company’s largest shareholder and prompting concerns of a hostile takeover.
 
Family Dollar has responded by adopting a one-year shareholder rights plan with a 10% trigger that would prevent any investor from gaining a controlling interest of the company without board approval.
 

St. Louis — The Panera Bread Company board of directors has approved a new three-year share repurchase program of up to $600 million. This new program will replace an existing program which was scheduled to expire on Aug. 23, 2015 and has been terminated by the board of directors in connection with approving the new program.

The repurchases will be effected from time to time. The share repurchase program and the board's authorization of the program may be modified, suspended, or discontinued at any time.

Fremont, Calififornia — The Men’s Weahouse reported a decline in first-quarter profit, hurt mostly by expenses. But the retailer’s results still topped Wall Street expectations.
 
Men's Wearhouse, which is acquiring smaller rival Jos. A. Bank Clothiers, reported first-quarter net earnings of $16.5, compared with $33 million last year. Results include $26.5 million in costs related to strategic projects, primarily Jos. A. Bank and cost reduction initiatives.

New York — Wal-Mart Stores named  Greg Penner, 44, to the new role of vice chairman, a move that positions him to be a successor to chairman Rob Walton. Penner, 44, is Walton’s son-in-law and has served on the board since 2008. The appointment was announced Friday morning at the company's shareholders' meeting.

The move strengthens the Walton family’s control of the board. Walton, 69, is the son of Wal-Mart founder Sam Walton.  

Fremont, Calif. — The Men's Wearhouse has extended its all-cash tender offer for $65 per share for all of the currently outstanding shares of common stock (including associated stock purchase rights) of Jos. A. Bank to June 19, 2014, unless further amended.  The tender offer was previously set to expire on June 5, 2014.

Atlanta — Shapewear wholesaler and retailer Spanx announced that Jan Singer has been named CEO of the company. She joins Spanx from Nike, where she held various senior leadership roles, including corporate VP of global apparel and corporate VP of global footwear.  

Singer, who will report to Spanx founder and owner Sara Blakely, is expected to come on board in early July.  Gregg Ribatt, interim CEO, will assist Singer through a transition, and then continue to serve on the company’s board of advisors.