Finance & Capital Management

NEW YORK — Sprouts Farmers Market, a Phoenix-based natural-foods supermarket chain, has reached an agreement to merge with competitor, Sunflower Farmers Market, based in Boulder, Col. Terms of the deal were not disclosed.

The combined company will operate 139 stores in eight states under the Sprouts banner, with annual sales of approximately $2 billion. It will open about 12 new stores this year.

“Our operations are very similar," said Sprouts president Doug Sanders, who will lead the combined supermarket company.

New York City -- The Conference Board reported Monday that its Employment Trends Index increased 1.38% in February to 107.46, from the revised figure of 105.99 in January.

The February figure is also up 6.1% from the same month a year ago.

Purchase, N.Y. -- Less than two months after resigning as president and CEO of Sam’s Club, Brian Cornell has landed at Purchase, N.Y.-based PepsiCo where he will serve as CEO of the company’s North American food division.

Cornell will be responsible for Frito-Lay North America, Quaker Foods & Snacks North America, PepsiCo Mexico, South America Foods, PepsiCo customer teams and all of PepsiCo’s Power of One activities within the Americas.

Canton, Mass. -- Dunkin' Donuts announced Monday the signing of a multi-unit store development agreement with QSR Services for nine new restaurants in Omaha and Lincoln, Neb.

The first restaurant is planned to open in 2013, and the remainder by 2017.

"We are excited to expand Dunkin' Donuts' presence in Omaha and Lincoln and play an important role in the daily lives of people who live, work and visit here," said Bryce Bares, president, QSR Services.
 

Well, 2012 is certainly off to a wild start. While there’s been nothing quite as dramatic and earth shattering as last year’s tsunami in Japan, there are plenty of global events and outside influences affecting our industry. I’m talking about the increases we’re seeing at the gas pumps and the warmer-than-average winter we’ve been experiencing throughout the country.

New York -- Barnes & Noble has named former Cablevision executive Michael P. Huseby as CFO.

Huseby, who replaces interim CFO Allen Lindstrom, was executive VP and CFO of cable company Cablevision Systems Corp from 2004 to 2011.
 

New York -- Sprouts Farmers Market, a Phoenix-based natural-foods supermarket chain, has reached an agreement to merge with competitor, Sunflower Farmers Market, based in Boulder, Col. Terms of the deal were not disclosed.

The combined company will operate 139 stores in eight states under the Sprouts banner, with annual sales of approximately $2 billion. It will open about 12 new stores this year.

“Our operations are very similar," said Sprouts president Doug Sanders, who will lead the combined supermarket company.

Although Walmart International has completed three acquisitions during the past 12 months, it is actually the least preferred method of growth, according to international division CFO Cathy Smith. Just imagine if acquisitions were the top priority.

Smith’s comments about acquisitions came earlier this week at a Raymond James and Associates investor conference where she appeared with treasurer Jeff Davis and detailed four dimensions of Walmart’s international growth strategy.

It seems like forever ago that Walmart stopped reporting monthly sales and providing regular guidance updates, which is why one comment by Walmart CFO Charles Holley stood out above all the others he made this week at the Bank of America Merrill Lynch Consumer & Retail Conference.

The Turkish sourcing division behind the success of the George brand for the past decade has been acquired by Walmart’s Asda unit, the company announced this week.

According to Asda, it intends to acquire the Istanbul, Turkey-based GAAT sourcing division of Türkmen Group. GAAT works with more than 80 manufacturers to manage garment production on behalf of the George business in such key locations as Turkey, Sri Lanka and Egypt, according to an Asda press release.