Labor & Employment

PLEASANTON, Calif. — Safeway shares dropped dramatically as the company reported $10 billion in sales for its first quarter 2013 ended March 23, which is essentially flat as compared to the first quarter of 2012. An identical-store sales increase of 1.5% (excluding fuel) was offset primarily by the disposition of Genuardi's stores in 2012 and lower fuel sales in 2013.

New York -- The CEO of Best Buy, Hubert Joly, earned compensation worth $19.6 million in his five months on the job in 2012, the Associated Press reported.  

Joly, a turnaround expert, took the reins of the chain in September. Former CEO Brian Dunn left in April when a board investigation found that Dunn violated company policy by having a "close personal relationship" with a female staffer. Board member Mike Mikan, one of Best Buy’s board members, served as temporary CEO before Joly was hired.

NEW YORK — Best Buy CEO Hubert Joly earned nearly $20 million during his first five months on the job in 2012, the Associated Press reported.

Joly, a turnaround expert, took the reins of the chain in September. Former CEO Brian Dunn left in April when a board investigation found that Dunn violated company policy by having a "close personal relationship" with a female staffer. Board member Mike Mikan, one of Best Buy’s board members, served as temporary CEO before Joly was hired.

MINNEAPOLIS — Supervalu reported sales of $3.89 billion and a loss of $1.41 billion in fourth quarter 2013, compared with sales of $3.98 billion and a loss of $424 million in fourth quarter 2012.

For the fiscal year, sales were $17.1 billion, compared with $17.3 billion in fiscal year 2012, while the company incurred a loss of $1.46 billion, compared with a $1.04 billion loss the year before.

ATLANTA — Coca-Cola’s board of directors has elected Robin Moore as one of the company’s VPs.

Moore, 47, was recently named chief of internal audit, effective May 1, replacing Connie McDaniel who is retiring after 24 years with the company. Moore is currently global director of finance operations in global business services. She began her career with the company in 1995 and has assumed roles of increasing responsibility including senior audit manager in corporate audit and director of financial reporting in the controller’s group.

Atlanta -- Aaron's said that David L. Buck has been named COO. Ken Butler, age 60, will be retiring as COO after a 39-year career at Aaron's effective May 1. He will also resign from the Aaron's board of directors.
   
Buck, age 63, was promoted to senior VP, operations earlier this year. He has risen steadily through the Aaron's management development program during his 24 years with the company.

SAN ANTONIO, Texas — A survey by open-cloud company Rackspace Hosting of 1,300 U.S. and U.K. companies revealed that retail in both countries has benefited from cloud computing via IT cost reductions, increased profits, improved disaster recovery and business agility, as well as strengthened out-of-office employee performance.

Dallas -- SRS Real Estate Partners and Cresa announced an agreement to form a new company to perform lease administration services for retail, office and industrial clients.

The new company will be known as SRS-Cresa Lease Administration, and will deliver a spectrum of lease administration services including critical date management, CAM audits, occupancy cost reconciliations, and full portfolio lease administration services out of currently established offices in Dallas and in Chicago.