Labor & Employment

Zaandam, The Netherlands -- Ahold plans to significantly expand its Peapod presence in the U.S. market.

"Peapod is expected to double its capacity in the U.S. in 2014," Dick Boer, Ahold CEO, told analysts during the company’s fourth-quarter earnings call.

Atlanta - The Home Depot has named Craig Menear president, U.S. retail, effective immediately. Menear was previously executive VP, merchandising, responsible for all merchandising departments and merchandising services and strategy; the company's supply chain network; global sourcing; vendor management; marketing; and online sales.

Hampstead, Md. – Jos. A. Bank Clothiers Inc. has officially rejected Men’s Wearhouse’s latest $1.78 billion buyout offer. But in yet another twist to the long-running saga between the two companies, in open letter to Men’s Wearhouse president and CEO Douglas S. Ewert, Jos. A. Bank said it is willing to meet with its rival.

San Diego -- As part of a restructuring, Sony Electronics announced plans to close 20 U.S. Sony stores, along with a total staff reduction of one-third by the end of the calendar year.

Minneapolis – Best Buy’s “Renew Blue” cost reduction program appears to be succeeding, as the retailer reported profit instead of loss during the fourth quarter and fiscal year 2013. The improvements came even as revenues in both periods declined compared to the same periods a year earlier.

During the fourth quarter, Best Buy reported net earnings of $311 million, a substantial improvement from its $460 million net loss a year earlier and above Wall Street projections.

San Francisco -- Gap Inc. on Thursday reported a 12.5% decline in fourth-quarter profit, with its results impacted by heavy discounting during the holidays. The retailer also issued a profit outlook for the full year that is below analysts' expectations, and said it will open 30 additional U.S. stores during fiscal year 2014.

Gap reported net income of $307 million for the three-month period ended Feb. 1, better than the Street expected, down from $351 million in the year-ago period.

As far as sales go, Sears Holdings didn’t have a very happy holiday. But the company was still able to narrow its loss for the fourth quarter, as it lowered expenses and reduced inventory.

The company said the costs of transforming into a member-centric retailer using an integrated online platform and the omnichannel Shop Your Way membership program fueled its net losses. It attributed declining revenues to lower same-store sales and having fewer stores in operation.

By Carrie Smith, [email protected]

It is undeniable that fast-casual restaurant chains in North Florida and South Georgia are resuming their expansion plans. The local unemployment rate ended 2013 under 6%, home building permits jumped nearly 30%, and car sales climbed — all signs of an improving local economy.