Finance & Capital Management

Procter & Gamble vice chairman Werner Geissler, who is also special adviser to the chairman and CEO, has announced plans to retire from the company Dec. 31, after more than 35 years of service.

Boston - Gordon Brothers Group, a global advisory, restructuring and investment firm specializing in the retail, consumer products, industrial and real estate sectors, has promoted Frank Grimaldi to national sales manager of the firm’s Valuation & Advisory Services Division, effective Oct. 1.

A massive share repurchase program at Bed Bath & Beyond enabled the company to overcome increased expenses and a decline in gross margins to produce earning per share growth that exceeded analysts’ estimates.

Dublin, Calif. - Ross Dress for Less will open a new store in Northern California on Oct. 11. The store is located in Rocklin Commons in Rocklin, a suburb in the Sacramento area.  

This new opening is part of the retailer’s 2014 expansion program, totaling approximately 75 new locations during the year. Together, Ross Dress for Less and DD’s Discounts currently operate over 1,300 off-price apparel and home fashion stores in 33 states, the District of Columbia and Guam.

Aliso Viejo, Calif. – Johnny Rockets has signed a development agreement with The Daher Group, to open Bolivia's first Johnny Rockets restaurant in Santa Cruz's Ventura Mall, the largest shopping center and first modern mall in the country. Johnny Rockets will join Ventura Mall's Gastronomic Boulevard, a central location in the modern mall designed for restaurants, coffee shops and snacks.  

Union, N.J. – Bed, Bath & Beyond Inc. reported net earnings of $223.95 million in the second quarter of fiscal 2014, down 10% from $249.3 million but still ahead of Wall Street projections. Increases in both interest expense and selling, general and administrative expense helped reduce net earnings.

Hasbro has entered into a strategic merchandising relationship with Disney Consumer Products for the Disney Princess and Frozen properties. The agreement gives Hasbro global rights (excluding Japan) to develop dolls based on Disney Princess stories and characters including Cinderella, Beauty and The Beast, The Little Mermaid and Frozen beginning in 2016.

New York -- Total holiday sales are expected to rise 4% to 4.5% over last season, totaling between $981 and $986 billion, according to Deloitte’s annual retail holiday sales forecast. The growth represents a moderate improvement over last year’s 2.8% gain.

Additionally, Deloitte forecasts a 13.5% to 14% increase in non-store sales in the online and mail order channels during the 2014 holiday season.