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Strategy

  • Safeway exits Canada, sells to Sobeys

    The Canadian retail landscape shifted again late Wednesday when Safeway announced the sale of its operations there to Sobeys Inc. for $5.8 billion.

    The all cash deal will result in net proceeds to Safeway of about $2 billion which will be used to pay down debt. Sobey’s is a Canadian food retailer and a wholly owned subsidiary of Empire Company Limited. It is acquiring Safeway’s 223 store operation and 12 manufacturing facilities that last year generated sales of $6.7 billion in Canadian dollars and a $428 million operating profit.

  • Royal Ahold, Nestlé CEOs to co-chair Consumer Goods Forum

    Royal Ahold CEO Dick Boer and Nestlé CEO Paul Bulcke are the new co-chairs of global packaged goods organization the Consumer Goods Forum.
     
    The selection of Boer and Bulcke was announced in conjunction with the CGF’s Global Summit in Tokyo. The pair replace outgoing co-chairs Muhtar Kent of the Coca-Cola Company and Gareth Ackerman of Pick n Pay. Ackerman and Denise Morrison, CEO of Campbell Soup Company, were appointed vice co-chairs of the forum.

  • Target’s first round of stores in Canada receives LEED certification

    MISSISSAUGA, Ont. -- Target announced that its first 24 store locations in Ontario (Canada) have been awarded LEED (Leadership in Energy & Environmental Design) certification. As previously announced, the discounter is seeking LEED certification for all 124 stores scheduled to open in Canada this year.

  • New CIO for health supplement e-retailer

    MIAMI — PureFormulas, a growing e-retailer that offers natural health supplements, has appointed William Perez as its CIO. Perez is a 17-year veteran in the technology world with 13 years of experience in the Internet operation space.

    “We’re excited to welcome Willy to the team,” said CEO José Prendes. “He will be instrumental in our continued growth strategy and will help take our entire interactive operation and customer experience to the next level.”

  • Action Services Group names Fairley VP

    Aston, Pa. – National lighting, sign and electrical maintenance and service company Action Services Group has named Joe Fairley as VP of account solutions. Fairley will be responsible for Action Services Group’s national sales development and sales management of the account solutions team. He has more than 20 years of experience in facility services.

  • Shopko brings big city deals to rural areas with hometown format

    GREEN BAY, Wis. — Shopko plans to open five new Shopko Hometown stores in Afton, Wyo., St. Peter, Minn., and Winneconne, Ellsworth and Tomahawk, Wis., in late fall.

  • Hudson’s Bay has profitable quarter

    Toronto -- Hudson’s Bay Company (HBC) had an overall successful first quarter of fiscal 2013 despite some sluggish performance at its Lord & Taylor banner.

    The company reported gross profit of $356 million for the quarter ended May 4, up 4% from $341 million a year earlier. Retail sales also grew 4%, from $848 million to $884 million. Consolidated same-store sales increased 4% as well.

  • Target increases dividend by 19.4%

    Minneapolis -- The Target board of directors demonstrated confidence in the company’s cash generating capabilities on Wednesday and agreed to up the company’s quarterly dividend 19% to 43 cents a share.
     
    The hefty increase ups the annual payout to $1.72 and moves the company closer to a long-term commitment to increase the full-year dividend amount to $3 by 2017. In addition, the company has established a target of growing earnings per share to $8 over the same time frame, up from $4.26 last year.

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