Finance & Capital Management

MINNEAPOLIS — Supervalu has named Bill Parker as the interim president of Farm Fresh Food & Pharmacy, a 43- store division in the Virginia Beach/Norfolk, Va. market. Parker, Farm Fresh's current SVP merchandising, will replace Gaelo de la Fuente who became the company’s president in April 2010 and is leaving the company to pursue other interests. Parker will assume the new role on Sept. 15.

Woodland Hills, Calif. -- Casual Male Retail Group is taking a new approach with merchandising and store set-ups for the nationwide roll-out of its DestinationXL (DXL) format, which brings together its value, mid-range and luxury men's apparel under one roof. The chain has outsourced the store set-up function to Great American Group, Woodland Hills, Calif.

Minneapolis -- Supervalu announced that Bill Parker has been named the interim president of Farm Fresh Food & Pharmacy, a 43- store division in the Virginia Beach/Norfolk, Va., market, effective Sept. 15.

Parker, Farm Fresh’s current senior VP merchandising, will replace Gaelo de la Fuente who became the company’s president in April 2010 and is leaving the company to pursue other interests.
 

Grand Rapids, Mich. -- Progressive AE and Design Plus, both of which are based in Grand Raids, Mich., announced they have merged to create one of the area’s largest full-service design firms specializing in architecture, engineering and interior design. Financial details of the merger were not disclosed.

Rocklin, Calif. -- Costa Mesa, Calif.-based Donahue Schriber announced the start of construction on Rocklin Crossings, a 543,500-sq.-ft. power center located just east of Sacramento, in Rocklin, Calif.

Anchored by Walmart, Rocklin Crossings is one of two sister-shopping centers being developed by Donahue Schriber within the city. Together, they will offer over 900,000 sq. ft. of retail and restaurants providing a regional shopping and entertainment destination for Rocklin.

South Plainfield, N.J. -- Bryn Mawr, Pa.-based WP Realty and Angelo, Gordon & Co. said that the pair has Oak Park Commons in South Plainfield, N.J.

Oak Park Commons is a one-story, 136,939-sq.-ft. community shopping center anchored by A&P Supermarket in 60,025 sq. ft. and includes a mix of national, regional, and local tenants. It is currently 76% occupied.
 

Walmart U.S. president and CEO Bill Simon was feeling pretty good earlier this week as he reeled off accomplishments and emerging opportunities during a presentation at a Goldman Sachs retail conference.

Simon appeared at the same conference two years earlier when Walmart was in a very different place in terms of its financial performance and its share price. His presentation this year was markedly different given all that has occurred under his leadership.

MALLE, Belgium — Belgium-based cleaning brand Ecover, said it has created the world's argest green cleaning product company with the acquisition of San Francisco-based Method.

The acquisition will expand Ecover's distribution network across Europe, the United States, Asia and Australia. Collectively delivering sales of $200 million and employing around 300 staff, Ecover and Method will continue as separate brands with a shared ambition to bring as many new consumers as possible into the green cleaning and personal care market, the company said.

CINCINNATI — Kroger attributed its gains in sales and earnings in the second quarter to cost control and increased customer loyalty and was confident enough to raise its earnings guidance.

The retailer reported net earnings of $279.1 million, or 51 cents per diluted share, compared with net earnings of $280.8 million, or 46 cents per diluted share, for the same period last year.

DEERFIELD, Ill. — Walgreens reported August sales of $5.9 billion, a decrease of 4.5% as compared with the same month in fiscal 2011.

August pharmacy sales decreased 7.2%, while comparable-store pharmacy sales decreased 12.4%. In addition to the Express Scripts impact, comparable-store pharmacy sales were negatively impacted by 7.9 percentage points due to generic drug introductions in the last 12 months. Pharmacy sales accounted for 64.1% of total sales for the month.