Strategy

Austin, Texas -- Whole Foods Market said Wednesday that its board approved a quarterly cash dividend of 10 cents per share reinstating the quarterly payment after more than two years with none. The dividend will be payable Jan. 20 to shareholders of record as of Jan. 10.

John Elstrott, chairman of Whole Foods' board, said in a statement that the decision to bring back the dividend stems from the company's strong financial position and outlook.

Minneapolis -- Supervalu says Sherry Smith has been named the grocery operator's new CFO.

Smith, 49, has been working as the company's interim CFO and will assume her new role immediately. She joined Supervalu in 1987 and has held a variety of positions at the company, including serving as its senior VP finance for eight years.
 

New York City -- Supervalu has reached an agreement to sell its Total Logistic Control subsidiary to Ryder System for an undisclosed amount.

The subsidiary provides logistics and supply chain management solutions to manage distribution, warehouse and transportation operations for food, drink and packaged-goods companies.

Dallas -- 7-Eleven has agreed to acquire ExxonMobil's retail interests in 183 Florida sites. The transaction, expected to close early in 2011, is subject to standard closing conditions and regulatory approvals. Terms of the deal were not disclosed.

New York City -- Ikea US sent a holiday ‘thank you’ to each of its 12,400 associates with a free bike, the retailer said Tuesday.

The gifts were part of Ikea’s “strong commitment to good health and being environmentally conscious,” while rewarding employees for a good year, the company said.

New York City -- Home Depot on Wednesday slightly raised its fiscal 2010 earnings guidance for the second time in two months as the market for home-improvement projects slowly begins to improve. The retailer plans to open 10 stores in 2011, and has budgeted $1.3 billion in capital expenditures. and about $2.5 billion on share repurchases.

The retailer now expects net income from continuing operations to be $1.97 per share, up from prior guidance of $1.94 per share. Analysts polled by Thomson Reuters, on average, also predict $1.94 per share.