Strategy

PLEASANTON, Calif. — Safeway on Tuesday said that it expects to earn $1.60 to $1.80 per diluted share during the quarter, after the company's board approved a $1.1 billion dividend from Canada to the United States.

 The dividend, Safeway said during its 2011 investor conference, will be used to pay off $600 million of U.S. debt, and the company will use the remainder of the dividend for share repurchases.

Deerfield, Ill. -- Walgreen Co. said Wednesday it is leaving the pharmacy benefits management business, selling its Walgreens Health Initiatives operation to Catalyst Health Solutions Inc. for $525 million in cash. The deal will leave Walgreens free to focus on its drug store network, which is the largest in the United States.

Walgreens’ pharmacy benefits management business has never approached the size of Caremark, the pharmacy benefits management business of CVS Caremark Corp.,

BOCA RATON, Fla. -- The South Florida Business Journal  reported Tuesday that Office Depot has dismissed David Grove, SVP contract sales for the company. 

According to the report, Grove's termination was unrelated to company operations, citing an Office Depot statement. Grove joined the company just 14 months ago.

Before joining Office Depot, Grove served in various roles in the office products field including president business interiors at Corporate Express and director of business development at United Stationers.

New York -- Dov Charney, the controversial founder and CEO of American Apparel, has been hit with his most serious lawsuit to date.  Charney, 42, who has previously dodged lawsuits claiming sexual harassment, as well as non litigious-claims about a sexually-charged work environment, is being sued for $250 million in damages for allegedly forcing a teen employee to perform sexual acts. 

AisleBuyer, the mobile self-checkout and commerce solutions provider, announced the hiring of three new VPs. Jeremy Laughlin is the name most likely familiar to those in the retail industry as he spent time with Best Buy and Staples and was most recently with NCR where he oversaw implementation of a $1.5 million pilot self checkout pilot program with a Fortune 100 retailer. 

New York — Walmart will next week start building its first smaller-format Express stores, according to building permits obtained by Bloomberg News.

The chain will begin construction March 16 on a 14,400-sq.-ft. store in Gentry, Ark., which is about 20 miles from the company’s Bentonville headquarters, according to the permits.

EL SEGUNDO, Calif. -- Fresh & Easy Neighborhood Market has announced the availability of 27 new exclusive California wines. The new wines, which the company said are sourced from some of the finest vineyards in California's premium wine growing regions, are broken into seven new lines and retail from $3.99 to $19.99.

PITTSBURGH – Shortly after reporting a 16% increase in continuing operations for its fourth quarter ended Jan. 29, American Eagle Outfitters, announced that its CEO, James O’Donnell, has informed the board of directors of his intention to retire, and the company has initiated a succession process to be jointly led by O’Donnell and the board. American Eagle said O’Donnell will continue with the company as CEO until a successor is named and through an orderly transition period.