Strategy

Woonsocket, R.I. — Rob Price, senior VP marketing and advertising and chief marketing officer for CVS/pharmacy, has left the company to pursue a new role.   

“Rob led the retail marketing team during a period of tremendous growth and strong financial performance and brought numerous positive changes to the business. We thank Rob for his important contributions and wish him the best of luck in the next phase of his career,” the company stated.

William Blair & Company analyst Mark Miller has followed Walmart for a long time, but he didn’t have much good to say about the company when he issued a downgrade this week.

Miller lowered his rating on Walmart to underperform from market perform and cited some familiar and unfamiliar concerns. For example, one of his main concerns related to Walmart’s size and complexity which he contends reduces dynamism and growth.

Purchase, N.Y. – MasterCard has entered into an agreement to acquire Pinpoint Pty. Ltd., an Australian provider of loyalty and rewards services to financial institutions across the Asia Pacific region. This acquisition is expected to close in second quarter 2014.

Barnes & Noble chairman Leonard Riggio has sold a portion of his holdings of company stock.

Riggio said he sold 3.7 million shares of common stock, after which his holdings are expected to represent approximately 20% of Barnes & Noble’s common stock outstanding.

“After this sale I remain the company’s largest shareholder, a position I feel very good about,” said Riggio. “I love this company and I believe in its future as I do in all of the wonderful people who work here.”

Philadelphia -- Urban Outfitters Inc. has appointed Trish Donnelly to the role of president of Urban Outfitters brand, North America, effective July 14. She will report directly to Ted Marlow, CEO, Urban Outfitters Group.

Post Holdings plans to acquire Michael Foods and its related entities for $2.45 billion. The acquisition is expected to be completed in the second quarter of 2014, subject to customary closing conditions.

Michael Foods is a leading packaged goods company providing value-added food products and service solutions to customers in the foodservice, retail and food ingredient channels. The company holds leading market positions in each of its three segments and produces a broad range of value-added egg products, potato products and cheese and dairy-case foods.

By Andy Couch, DJM Real Estate

Rosemary Ricketts and Steve Bohman, retail executives with extensive mass market experience, have joined upscale brand Vera Bradley in key roles.

Ricketts was named vp of merchandising and Bohman was named vp of global production at the leading designer of women's handbags and accessories, luggage and travel items, eyewear, stationery and gifts.