Trading Partners

Lowe's has announced a restructuring in both in-store operations and merchandising organizations that will thin the ranks of its management and consolidate both its regions and divisions.

Lowe's merchants have been reorganized into two product divisions, each led by a senior VP/general merchandising manager. Both will report to executive VP merchandising Robert Gfeller Jr. 

Troy Dally, previously SVP/GMM hardlines/building products, will lead the new building and outdoor products division.

Los Angeles -- X Team International announced that Los Angeles-based partner Cypress Retail Group has been retained by Property Development Centers, a wholly owned subsidiary of Safeway Inc., to serve as the leasing agent for four shopping centers under development and redevelopment in the Los Angeles area.

The four shopping centers, located in La Canada, La Crescenta, Eagle Rock and Pasadena, are all being redeveloped, renovated or expanded, and are anchored by Vons, a Los Angeles-based, Safeway-owned grocery store.
 

Suppliers to Walmart will have plenty of opportunities to hear from Walmart EVP merchandising Duncan Mac Naughton in the months ahead.

First up is Walmart’s annual meeting for financial analysts held each fall and slated for Oct. 11 to 12 this year. An agenda isn’t yet available, but Mac Naughton presumably will be a featured participant, or at least he should be considering Walmart’s ongoing efforts to revive U.S. sales and recent moves Mac Naughton has made to the structure and leadership of the merchandising organization.

MALIBU, Calif. — U.S. toymaker, Jakks Pacific announced the appointment of Jack McGrath as COO.

DEERFIELD, Ill. — Walgreens on Monday named Thomas Sabatino Jr. EVP, general counsel and corporate secretary, effective Sept. 12.

Sabatino replaces Dana Green, who is retiring after 37 years with the company, Walgreens stated.

New York City -- David Campisi, CEO and president of Sports Authority has suddenly resigned after just 17 months in the position, according to The Denver Post and other newspapers. Campisi joined Sports Authority in 2004 and served in various executive roles prior to being named chief executive and president in 2010. No reason has been given for the departure.

Norwalk, Conn. -- Michaels Stores and procurement management firm LogicSource announced a five-year agreement under which LogicSource will provide print procurement and related services to Michaels. More than $250 million of print and promotional spend will be covered over the life of the contract.
 

There is some debate as to whether paying dividends or buying back stock is a more desirable method of returning cash to shareholders. Those in the dividend camp would prefer to have the cash in their pocket, whereas share repurchase advocates argue that retiring shares through buyback activity improves profits as net income is spread over a smaller number of outstanding shares.