Consumer Affairs & Relations

NEW YORK — Mitchell Klipper, CEO of Barnes & Noble’s retail group., has sold off two-thirds of his stock holdings in Barnes & Noble between Aug. 22 and Aug. 26, according to reports. 

An SEC filing indicates that Klipper sold 400,000 of roughly 600,000 shares he held in the company, grossing more than $5.5 million.

New York -- The Conference Board Consumer Confidence Index which had declined in July, increased slightly in August. The Index now stands at 81.5, up from 81.0 in July.

New York -- Hedge fund manager and activist investor William Ackman is selling his entire stake in J.C. Penney.

Ackman's Pershing Square Capital Management, Penney’s single biggest shareholder with an approximate 18% stake, is offering its roughly 39.1 million shares for sale and used Citigroup as the bookrunner for the deal, Reuters reported. Penney filed a prospectus for the sale.

J.C. Penney filed a registration statement with the Securities and Exchange Commission late Monday that would allow for activist investor Bill Ackman to unload his entire stake in the company via a secondary stock offering.

According to the J.C. Penney’s filing, Ackman and various Pershing Square investment vehicles he controls plan to sell roughly 39 million shares representing 17.7% of the company’s 220.5 million outstanding shares.

COLUMBUS, Ohio — Big Lots has reappointed Russell Solt to its board of directors after determining that the move is in the best interests of the company and its shareholders. 

Solt will also continue to serve as chairman of the compensation committee, which is composed entirely of independent non-executive directors. Consistent with the terms of the company's other directors, Solt's term will run until the 2014 annual meeting of shareholders.

By Dawn Palmer, Accenture

Braun has tapped triple Formula 1 world champion Sebastian Vettel as the new global brand ambassador. Vettel will be the face of the brand’s “Hold on to your Dreams” global marketing campaign. 

The announcement was made at the Formula 1 Circuit of Spa-Francorchamps. 

Columbus, Ohio – The board of directors of Big Lots, Inc. has retained director Russell Solt. Solt will also continue to serve as chairman of the compensation committee, which is composed entirely of independent non-executive directors.