Finance & Capital Management

Purchase, N.Y. -- Excluding auto sales, total retail sales in April 2011 grew by 8.8% year-over-year, stronger than March’s growth rate, and substantially higher than the average 7.1% year-to-year growth rate of the previous quarter, according to MasterCard Advisors’ SpendingPulse, a macroeconomic report tracking national retail and service sales.

Tejon, Calif. -- Ikea on Wednesday flipped the switch on a newly constructed solar energy system at its southwestern U.S. distribution center in Tejon, Calif. The 370,000-sq.-ft. solar array consists of a 1.8 MW system designed and installed by California-based REC Solar, and built with 7,980 REC Group panels.

WOONSOCKET, R.I. — CVS Caremark’s annual meeting of stockholders held Wednesday morning was an emotional and momentous occasion for the company as it marked the official retirement of Tom Ryan, former chairman and CEO, and the beginning of a new chapter as Larry Merlo takes the reigns as CEO.

Wayne, N.J. – Toys "R" Us is installing the largest rooftop solar power installation in North America at its distribution center in Flanders, N.J. Staging for the system is currently underway and construction will conclude this summer. Upon completion, the 5.38 megawatt on-site solar array will occupy 869,294 sq. ft. It is estimated to generate 72% of the electrical needs for the Toys "R" Us facility, which is the largest of the chain’s 10 DCs and covers over 1.5 million sq. ft., in addition to the roof, which spans 32 acres.

Lakeland, Fla. -- Publix Super Markets said that it has reached a deal to sell the Crispers restaurant chain to Healthy Food Concepts, an affiliate of the Miami-based investment group Boyne Capital Partners. Terms of the deal were not disclosed.

Crispers is a fast-casual restaurant chain serving soup, salads and sandwiches with 36 locations in Florida.
 

Dallas -- Zale Corp. announced the company’s CFO, Matt Appel, has been appointed as chief administrative officer. He will continue to serve as CFO.

Appel will be responsible for real estate, supply chain and logistics, merchandise planning and allocation, information technology, warranty, repair and credit products, as well as the ongoing management of Zale’s finance and control functions.

New York City -- Rising fuel costs, higher commodity prices and increasing international market demand for food are pushing food inflation higher and higher, according to the Food Marketing Institute’s U.S. Grocery Shopper Trends report released Tuesday.

WASHINGTON — The National Retail Federation announced that it is endorsing legislation that would repeal the employer mandate provision of last year’s healthcare reform law.