Finance & Capital Management

Minneapolis -- Supervalu announced plans to eliminate about 1,100 positions nationwide, or about 3% of its national workforce. The reductions include both current positions and open jobs that will not be filled.

The news comes less than a week after Supervalu completed the sale of five of its grocery banners, including Albertson’s and Shaws/Star Markets. The company said the sale of the five chains means that the remaining business will need "significantly fewer" corporate and store support roles and functions.

CINCINNATI — Kroger on Tuesday announced the planned retirement of VP and pension investment officer, Rich Manka. His retirement is effective July 15.

"Throughout his career, Rich has been a trusted member of Kroger's leadership team," stated Mike Schlotman, Kroger's CFO. "Pension plan trustees and participants alike have benefited from his vast knowledge and influence on investment strategies and plan designs. We thank Rich for his contributions to our company and industry and wish him the very best."

Dallas -- 7-Eleven will rebrand convenience stores in Ohio’s Cuyahoga and Lorain counties as part of a 19-store lease from Allentown, Pa.-based Lehigh Gas Partners LP.

The effective date of the leases will vary, but all leases are expected to be in place by March 31, 2013.

Regional department store operator Gordmans Stores reported disappointing fourth quarter sales and indicated 2013 is of to a slow start.

Sales for the 14 week fourth quarter ended February 2 increased 9.4% to $202.5 million, but the gain was driven entirely by an additional week in the reporting period and the opening of nine new stores in four new markets and two new states. Same stores sales declined 4.1%.

Cincinnati -- Kroger on Tuesday announced the planned retirement of VP and pension investment officer, Rich Manka. His retirement is effective July 15.

"Throughout his career, Rich has been a trusted member of Kroger's leadership team," stated Mike Schlotman, Kroger's CFO. "Pension plan trustees and participants alike have benefited from his vast knowledge and influence on investment strategies and plan designs. We thank Rich for his contributions to our company and industry and wish him the very best."

Who needs a bank? Walmart and American Express have added a host of capabilities to the Bluebird financial service product they introduced last year as an alternative to debit and checking accounts.

The nation’s leading specialty retailer of children’s apparel issued a dour outlook for the first quarter of 2013 after a strong finish to 2012.

The company said sales for the 14 week fourth quarter increased 11.3% to $509.2 million and same store sales increased 4.3%. Earning per share increased 32% to $1.15, 11 cents better than analysts forecast.

New York -- American Express and Wal-Mart Stores announced Tuesday that they are expanding their reloadable prepaid card program, Bluebird, to include direct-deposit capabilities for government checks.