Trading Partners

ST. LOUIS — The boards of directors for Ralcorp Holdings' Ralcorp and Post divisions were unveiled Friday by the company.

As previously reported, Ralcorp said its Post cereal business will be spun off to become its own entity.

Walmart’s sharpest critics will acknowledge that much good has come of the company’s sustainability efforts, but there are voices who maintain an inherent conflict exists between saving the planet and a business model based on selling as much low-priced stuff as possible to as many people as possible.

Washington, D.C. -- The National Retail Federation announced that Whole Foods Market is the recipient of its prestigious annual Innovator of the Year award.

Walter Robb, co-CEO, will accept the award on behalf of co-CEO and founder John Mackey during the Annual Retail Industry Luncheon at NRF’s 101st Annual Convention and Expo on Jan. 17.

MINNEAPOLIS — Target's board of directors has approved a new $5 billion share repurchase program, which will be implemented upon the completion of the company's current $10 billion program.

Target said while it expects to complete its current program early this year, it expects to complete the new $5 billion authorization in the next two to three years, saying the program "represents an opportunity to apply excess cash flow to what [the company believes] will be an attractive long-term investment."

Roughly 50,000 acres of additional wildlife habitat across the United States will be preserved in 2012 as part of Walmart’s Acres for America program.

The company announced awards to support projects in California, Colorado, Florida, Georgia, Hawaii, North Carolina and Tennessee as part of the Acres for America program that began in 2005 with a $35 million commitment to purchase and preserve one acre of wildlife habitat in the U.S. for every acre of land developed by the company through 2015.

Hoffman Estates, Ill. -- According to a report by Bloomberg, CIT Group has decided to stop financing loans to suppliers waiting to be paid by Sears.

CIT Group has not commented on the matter.

Sears Holdings Corp. told Bloomberg that it disagrees with CIT's decision but said it won't have a big impact on its operations. It said that CIT's payables represented less than 5% of its inventories, and noted that other lenders are still financing the loans.
 

ARLINGTON, Va. — The Retail Industry Leaders Association announced that Kirt Johnson will join the association as VP tax policy. 

An expert with nearly 30 years of experience navigating tax policy on Capitol Hill and in the private sector, Johnson will lead RILA’s tax agenda, including the pursuit of comprehensive tax reform. Johnson will also provide support to RILA’s aggressive campaign to level the playing field in terms of sales tax collection between Main Street retailers and their online competitors. 

New York City --

The government said it would lift the current 51% ownership limit on foreign companies that sell just one brand of products — a group that would include such companies as Gap, Apple and Starbucks — if they met certain strict conditions, the report said.