Strategy

New York -- Consumer confidence in May rose to the highest level since October 2007, according to the Thomson Reuters/University of Michigan final index of consumer sentiment. The index rose increased to 79.3 from 76.4 the prior month. 

Industry analysts said a decline in gas prices and an improving housing market is helping offset slower job growth and volatile stock prices.

Estimates for the confidence measure ranged from 76 to 79, according to a Bloomberg survey of 60 economists.
 

New York -- M.A.C. Cosmetics will open a flagship on a prime stretch of New York City’s Fifth Avenue, according to various reports.

The company will open up shop in November, on Fifth Avenue near 54th Street, in a space that formerly housed Elizabeth Arden's Red Door Spa, according to Racked.com.
 

Austin, Texas -- Whole Foods Market has named Scott Allshouse, Omar Gaye and Rob Twyman as regional presidents following the promotion of David Lannon and Kenneth Meyer to executive VPs of operations.

Allshouse fills Meyer's former role as president of the company's Mid-Atlantic Region. He moves from his position as president of the South Region.

Gaye takes the South Region president position vacated by Allshouse, moving from his position as the South Region's VP.

Dublin, Calif. -- Epicor Software Corp., announced it has entered into an agreement to acquire substantially all of the operating assets and intellectual property of New Zealand-based partner Cogita Holdings Limited. The transaction is anticipated to close by May 31, 2012.

New York -- The Los Angeles City Council voted 13-1 to ban plastic bags at supermarket checkouts, becoming the largest city in the nation to approve such a law.

The council voted to phase out plastic bags during the next 16 months at an estimated 7,500 stores, meaning shoppers will need to bring reusable bags or purchase paper bags for 10 cents each.

Rochell Park, N.J. -- Avenue Stores announced it has begun the process to close 96 stores over the next three months. The company previously announced plans to selectively close and consolidate stores in order to finalize a geographic footprint that maximizes profitability and sales growth potential.

Upon completion of the closures, the company will continue to operate more than 300 stores in 34 states, and offer online shopping,

Hingham, Mass. -- Talbots said Friday that Sycamore Partners had walked away from negotiations over a proposed $215 million buyout of the retailer. The company, which also reported first quarter results, said it was exploring other strategic alternatives.

TORONTO — Sears Canada announced that on May 25 it will unveil its new, refreshed store concept in four Ontario locations: Barrie, Belleville, Newmarket and at the Lime Ridge mall in Hamilton. These stores reflect the Company's plans to transform the Sears shopping experience in Canada.

Walmart U.S. CEO Bill Simon delivered an optimistic message about Walmart U.S.’s performance during the first quarter and its potential for the coming year during a presentation at a Morgan Stanley conference in Boston Wednesday. Ahead of the Walmart’s upcoming shareholders’ meeting, Simon talked about leveraging a more efficient supply chain to drive costs down, lower prices and improve traffic and shared insights on the company’s plans for growth in the second quarter and beyond.

WEST DES MOINES, Iowa — Randy Edeker, has been named chairman and CEO of Hy-Vee. Edeker will be only the fourth person in the company's 82-year history to be elected to this position. He will succeed Ric Jurgens, who is retiring June 1 following a 43-year caeer with the company.

Edeker most recently served as President and Chief Operating Officer, and will now hold the offices of chairman, CEO and president of Hy-Vee.