Finance & Capital Management

In what has been described as an historic rate reduction, the U.S. Postal Service (USPS) will roll back postage rates on April 10.

The reduction – the first stamp prices have fallen since 1919 – is prompted by the removal of the 4.3% exigent surcharge. It will apply to several mail classifications, including letters, large envelopes, flats, and postcards.

Arby’s Restaurant Group has exceeded its own goal for energy reduction, and also cut its water consumption, for a combined energy-related savings of $20.4 million from 2011-2015.

The company announced that as of Dec. 31, 2015, it reached 15.2% total energy reduction per company-owned restaurant from a 2011 baseline, exceeding the “15 Percent By 2015” energy savings goal the company set for itself in 2012.

In addition, Arby’s achieved an 8.6% reduction in water consumption per company-owned restaurant from 2011-2015.

L Brands’ Victoria’s Secret division had a record year in 2015, which is why chairman and CEO Leslie Wexner believes now is the best time to narrow the brand’s focus and simplify the operating model to drive long-term growth.
 

Kroger showed its tendency to promote longtime executives to key senior leadership roles again with the naming of a 32 year veteran to serve as president of its 138 store Smith’s division based in Salt Lake City.
 
Kenny Kimball was elevated to the role of president of Smith’s after previously serving as VP of operations. Kimball joined Smith’s in 1984 as a courtesy clerk and succeeds Jay Cummins who announced his retirement in February. Kimball assumes his new responsibilities April 30.
 

Rite Aid on Friday reported revenues of $8.3 billion for its fourth quarter ended Feb. 27, representing an increase of 20.8%. Retail Pharmacy Segment revenues were $6.8 billion and decreased 0.3% compared to the prior year period primarily as a result of a decrease in same-store sales. Pharmacy Services Segment revenues were $1.5 billion.
 

Jill Turner-Mitchael, SVP overseeing health and wellness for Sam’s Club, was the keynote speaker at the Northwest Arkansas Council’s Health Care Summit in Rogers on Wednesday, April 6, Talk Business and Politics reported Thursday.

Aldi is expanding its fledgling footprint in Southern California.

On Thursday, April 21, the grocer will open six stores in Los Angeles County, three in Orange County and one store in San Bernardino County.

The April openings are part of Aldi’s plan to open approximately 45 stores in Southern California by the end of 2016, eight of which opened last month.

Currently, Aldi operates nearly 1,500 U.S. stores in 33 states.

Specialty retailer Petco will open seven new stores in April as part of its 2016 growth plan, which includes 20 new store openings year-to-date.

In addition to the seven new locations, the retailer is also expanding one location to accommodate growth in Swampscott, Massachusetts, and remodeling seven stores in San Antonio.

In a not unexpected move, beleaguered teen apparel retailer Pacific Sunwear of California Inc. filed for Chapter 11 bankruptcy court protection.

In a court filing on Thursday in Delaware, the Anaheim, California-based retailer listed assets in the range of $50 million to $100 million and liabilities of between $100 million and $500 million. It listed Simon Property Group and Nike Inc. among its top creditors. The chain named RCS Real Estate Advisors, New York, as its real estate advisor.

Bed Bath & Beyond has entered a new phase in its growth trajectory, becoming more aggressive in returning cash to shareholders and initiating a quarterly dividend as opposed to fueling top-line growth with rapid store expansion.