Corporate Governance

New York -- Consumers have “no regrets” when it comes to dropping national food, beverage and household brand names from their shopping lists. In fact, nine-in-10 shoppers stick to store brands. Those are among the findings of a new survey Deloitte.

According to Deloitte’s American Pantry Study, 88% respondents say they have found several store brands that are just as good as national brands and that allow them to feel as though they are saving money without giving up anything.
 

Deerfield, Ill. -- Walgreen Co. said that its same-store sales rose 7.6% in April, boosted by Easter-driven growth in front-end sales.

The company’s total sales rose 8.8% to $6.49 billion in the month of April, up from $5.96 billion in the same period of last year. Pharmacy sales accounted for 64.5% of total sales for April.

Ann Arbor, Mich. -- On Wednesday, nearly 54 years after its founding in Ypsilanti, Michigan, Domino's Pizza will open the doors to its 11,000th store, in Brantford, Ontario.

"Domino's international growth continues to expand, and I think it is special that we reached this milestone in Canada, the country where the international growth started,” said Mike Schlater, Domino's Pizza of Canada master franchisee. “I am proud to continue serving this community by bringing the 11,000th store to Brantford."
 

Harrisburg, Pa. -- Arooga’s Grille House & Sports Bar announced it is making tabletop tablets from Buzztime the brand standard for all current and future corporate & franchise locations.

Pittsburgh — The Field & Stream specialty retail concept has announced plans to open a new store in Erie, Pennsylvania, on June 13 at Millcreek Marketplace.

Field & Stream stores carry a wide variety of national outdoor brands including Remington, Sitka, Sage, Simms, Shimano and Yeti and provide a variety of in-store services. The store is not associated with Field & Stream Licenses Co. or Field & Stream Magazine. Dick’s Sporting Goods owns and operates Field & Stream specialty retail stores and FieldandStreamShop.com.

Minneapolis -- Target Corp. announced on Monday that CEO and president Gregg Steinhafel, a 35-year-company-veteran, had resigned, effective immediately. The news comes nearly five months after the retailer disclosed a massive data breach that damaged its reputation among customers and has derailed its business.
 
Target CFO John Mulligan will lead the company on an interim basis until a replacement is named. Steinhafel will serve as an advisor during the transition.  

The search is under way for a new CEO at Target following the revelation Monday morning that Gregg Steinhafel was no longer chairman president and CEO effective immediately.

On an interim basis, Target CFO John Mulligan will serve as president and CEO and current board member Roxanne S. Austin will serve as non-executive board chair. To advise the board on its search for a new CEO the firm of Korn Ferry was retained.

Staples is in the process of acquiring PNI Digital Media, a leading innovator in digital media solutions for retailers, for CDN$1.70 per share, representing a net equity value of approximately CDN$73.9 million.

The purchase share price represents a premium of 31.8% over the closing price of CDN$1.29 of the PNI shares May 2 on the Toronto Stock Exchange and a premium of 28.9% over the 30 day volume weighted average price of the PNI shares on the TSX for the period ended May 2.

Kmart Pharmacy is working with Diplomat Specialty Pharmacy to give Kmart customers and Shop Your Way members access to specialty medications, bringing specialized support for a variety of patient conditions, including but not limited to: HIV, Crohn's disease, anemia blood modifiers and Hepatitis C.

Walgreens posted April sales of $6.49 billion, an increase of 8.8% from $5.96 billion for the same month in fiscal 2013.

Total front-end sales increased 8.8% in April compared with the same month in fiscal 2013, while same-store front-end sales increased 8.2%. Customer traffic in comparable stores increased 2.6% while basket size increased 5.6%.