Labor & Employment

Washington, D.C. -- A report released Thursday by Bloomberg said that consumer confidence reached its highest level in 10 weeks, thanks to falling gas prices and despite a 9.1% unemployment rate.

The Bloomberg Consumer Comfort Index increased to minus 43.9 for the period ended June 26, after dropping to minus 44.9 the prior week. According to the report, falling fuel costs are reducing consumer stress.

Eden Prairie, Minn. -- Supervalu announced that its ongoing commitment to reducing waste culminated with a milestone in fiscal year 2011, marking the first time recycling revenues exceeded landfill waste expenses. In total, the company reduced garbage expenses by 12.6% over last year’s levels, while also conducting an aggressive cardboard recycling initiative that nearly doubled revenues from the previous year. The end result was the company’s waste and recycling program posted a profit to the company’s bottom line.

New York City -- BJ's Wholesale Club announced on Wednesday that it has agreed to be acquired by the private equity firms of Leonard Green & Partners and CVC Capital Partners (“CVC”) in an all-cash transaction valued at approximately $2.8 billion.

BJ's, based in Westborough, Mass., has 190 stores in 15 states. The company said its board unanimously approved the buyout.

New York City -- Wal-Mart Stores spent $2.42 million on lobbying in the first quarter on issues ranging from organized crime to food safety, as well as nutritional labeling, according to a recent disclosure report, the Associated Press said.

New York City -- Retailers lost $37.14 billion to theft last year, or 1.58% of retail sales, up from 1.44% in 2009, according to preliminary results of the National Retail Security Survey. The annual survey is conducted by the University of Florida for the National Retail Federation, with funding from ADT Commercial.

As in previous years, employee theft accounted for the largest (approximately 44%) portion of the losses. Shoplifting and organized retail crime was second, with 33%. Administrative errors, vendor fraud and unknown causes make up the rest.

Washington, D.C. -- A report released Monday by the Commerce Department showed that consumer spending unexpectedly stalled during the month of May, as prices climbed and 9.1% unemployment caused shoppers to cut back.

Commerce Department figures showed that purchases were flat in May, after a median estimate of economists surveyed by Bloomberg News called for a 0.1% gain. Prices excluding food and energy rose more than forecast.

STRATHAM, N.H. — The Timberland Company has announced the appointment of Mark Newton as VP corporate social responsibility, effective June 13. In this new role, Mark will lead Timberland's diverse global team responsible for managing the organization's four areas of focus within CSR: environmental stewardship, global human rights, community engagement and transparency and reporting. Mark will report to Carrie Teffner, Timberland's CFO.

New York City -- Tiffany & Co. is replacing its CFO and adding a COO position.

The company announced Patrick F. McGuiness will replace James Fernandez as CFO.

Fernandez is taking on the newly created post of COO. The moves are effective immediately.