Finance & Capital Management

Henderson, Nev. -- Efficiency upgrades at 621 7-Eleven stores in California, Washington, and Oregon, will result in an anticipated energy savings of approximately $1.2 million annually.

The upgrades were completed by Castrovilla, a subsidiary of Blue Earth, an energy efficiency and renewable energy services company. The project involved the installation of energy efficient electronically commutated motors, anti-sweat heater controls, evaporator fan controls, gaskets, door closers and strip curtains.

San Bernardino, Calif. -- Grocery chain Stater Bros. Markets said Tuesday it has promoted David Harris to the position of senior VP finance, CFO and principal accounting officer.

Harris joined Stater Bros. in 2009 as VP finance. In June 2011, he was promoted to his most recent position of senior VP finance.

Harris reports to Jack H. Brown, chairman and CEO.
 

Hoffman Estates, Ill. -- Kmart said Tuesday it is introducing a Halogen Reloadable Prepaid MasterCard by Green Dot.

Minneapolis -- A Monday report in the Wall Street Journal said that grocery supplier C&S Wholesale Grocers is said to be interested in buying the distribution business of Supervalu Inc.

On July 11, Supervalu – which owns such grocery banners as Albertson’s, Jewel-Osco and Save-A-Lot – revealed it would explore a sale of all or part of the company. It said it had hired Goldman Sachs and Greenhill & Co. to launch a review of strategic options, including asset sales.

Visa and MasterCard on Friday announced a proposed $6.6 billion settlement to a long-running dispute over the fees they charge merchants, but one major trade group was clearly annoyed at the prospect.

NEW YORK — Barnes & Noble has announced the appointment of Thomas Donohue as VP treasurer; Kanuj Malhotra as VP corporate development; and the promotion of Andy Milevoj to VP investor relations, all reporting directly to Mike Huseby, CFO.

FORT WORTH, Texas — RadioShack has named Telvin Jeffries as EVP and chief human resources officer and general manager of retail services, effective Aug. 1. Jeffries will report to Jim Gooch, president and CEO of RadioShack Corp.

WASHINGTON — U.S. retail sales declined during the month of June, the Census Bureau reported Tuesday.

U.S. retail and food services sales for the month, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $401.5 billion, an decrease of 0.5% from the previous month but 3.8% above the year-ago period. Retail trade sales were down 0.5% from last month but 3.5% above last year.

NEW YORK — TLB Merger Sun, an affiliate of Sycamore Partners, has extended the expiration of its tender offer to acquire all of the outstanding shares of common stock, and the associated stock purchase rights, of The Talbots Inc. for $2.75 per share, net to the seller in cash, without interest, and less any applicable withholding taxes, to 5 p.m., New York City time, on Friday, July 27, unless further extended.

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