Mergers & Acquisitions

The importance of expense control at Walmart became evident on Friday when the retailer confirmed it planned to eliminate 450 positions as part of a broader restructuring effort.

Citing favorable market conditions and a desire to “de-risk” its pension plan, nearly 14,000 participants in J.C. Penney’s retirement plan opted to receive lump sum payments.

St. Petersburg, Fla. -- The Sembler Company and Forge Capital Partners announced the purchase of Disston Plaza in St. Petersburg, Florida, which will be added to Forge Real Estate Partners III investment fund. The 123,000 sq. ft. shopping center is currently 98% occupied and is anchored by Publix and also includes Bealls Outlet and Dollar Tree.

Supervalu announced that president and CEO Sam Duncan will retire at the end of the company’s fiscal year. The company also elevated two other executives to key senior leadership roles and affirmed its commitment to exploring strategic alternatives for the Save-A-Lot retail division.

The $18 billion grocery wholesaler and retailer said Duncan would remain with the company until February 29, 2016. He joined the company in February 2013 in connection with the sale by Supervalu of five retail banners to Albertsons.

Midwest discounter Meijer tapped a former store pharmacist who worked his way up in the company as its next president.

The Grand Rapids, Michigan-based Meijer announced that Rick Keyes, who joined the company 26 years ago as a pharmacist in Columbus, Ohio, has been appointed as president. He will succeed James Kevin "J.K." Symancyk, who is leaving Meijer, effective Oct. 9, to become the CEO of Texas-based retailer Academy Sports + Outdoors.

The importance of expense control at Walmart became evident on Friday when the retailer confirmed it planned to eliminate 450 positions as part of a broader restructuring effort.

On the heels of opening its Digital Innovation Labin Boston in June, CVS Health is furthering its innovation efforts with two new outside partnerships.

Chico’s is looking to a veteran of Victoria’s Secret to help the company navigate some troubling times.

The company announced that Cynthia A. Fields has been appointed to its board of directors, effective immediately. Fields was also appointed to the board's merchant committee.