Finance & Capital Management

Washington -- President Obama has selected Sally Jewell, president and CEO of Recreational Equipment Inc., to lead the Interior Department, White House officials said Wednesday.

Jewell, a former banker and Mobile Oil Corp. executive, is an outdoors enthusiast and conservation advocate. She joined the board of REI in 1996, and was appointed COO in 2000. In 2005, she was named CEO. The outdoor retailer expanded significantly under her leadership, and now generates some $2 billion in annual revenues.

New York -- CVS Caremark Corp. bought Drogaria Onofre, a 44-store drug store based in San Paulo, Brazil, last week, Reuters reported. It marks the first time CVS has expanded outside the United States.
 
"We view Brazil as an attractive market given that healthcare and pharmacy are expected to grow double digits for the next decade," CVS CEO Larry Merlo told Reuters. "It's still a highly-fragmented market, so we see nice opportunity to grow the business over time."

ROSEVILLE, Calif. — Revionics a provider of end-to-end merchandise optimization solutions has renewed its software contract with Family Dollar. This renewal agreement will extend Family Dollar’s services with Revionics Price Optimization. Family Dollar will be leveraging Revionics’ solutions in each of its more than 7,600 stores in 45 states.

PITTSBURGH — American Eagle Outfitters has agreed to a mutual termination of its license agreement in China, Hong Kong and surrounding markets with Dickson Concepts (International) Limited. Consistent with its long-term global expansion strategy and the importance of this market, the company took the opportunity to exit its agreement and will assume operation of six existing stores in China and Hong Kong.

ATLANTA — Predictix, a provider of merchandising and supply chain solutions for retailers, has named Bradley White as its new CFO. White is a proven financial executive and joins Predictix with more than 15 years’ experience in treasury, finance, accounting, public company reporting, employee management, strategic planning and tax compliance in diverse global businesses and industries.  This comes after the recent appointment of John Simon as Predictix’ new CEO.

ARLINGTON, Va. -- The passage of comprehensive tax reform and a more level playing field between online retailers and Main Street retailers for sales tax collection top the Retail Industry Leaders Association’s public policy priorities for 2013.

According to RILA, the retail industry pays among the highest domestic effective tax rates at 36.4% more than 10 percentage points higher than the average for all other industries.

WASHINGTON — The National Retail Federation has been outspoken in its criticism of credit card fees and now a group called the Electronic Payments Coalition that represents credit unions,banks and payment card networks is firing back, claiming that the retail lobby is making false statements regarding checkout fees.

WASHINGTON — The National Retail Federation has been outspoken in its criticism of credit card fees and now a group called the Electronic Payments Coalition that represents credit unions,banks and payment card networks is firing back, claiming that the retail lobby is making false statements regarding checkout fees.

NEW YORK — Michael Cunningham, Aeropostale president, is retiring effective March 29, the company announced Tuesday. 

New York -- Aeropostale announced the retirement of president Michael Cunningham, effective March 29. He will remain on the board of directors.