Corporate Governance

Fremont, Calif. -- Men's Wearhouse Inc. and Jos. A. Bank Clothiers Inc. may be inching closer to a deal. Men’s Wearhouse announced that it had reached a nondisclosure agreement with its rival, setting up talks that could lead to a merger of the two retailers. The two firms announced they are exchanging certain confidential information with each other and working in good faith to evaluate a potential combination.

As part of the agreement, Jos. A. Bank submitted a draft of a merger agreement to Men’s Wearhouse.

Lease-to-own retailer Aaron's has named Michael P. Ryan as VP of franchising. He replaces Todd Evans, who will be exiting the company. Henri Rogers, currently senior regional manager for Aaron's Three Rivers region, will succeed Ryan as divisional VP of Northern operations.

Publix’s sales for the fourth quarter of 2013 boosted the company’s stock price from $30 per share to $30.15 per share.

The company reported sales of $7.4 billion, a 5.3% increase from last year’s $7 billion. Comparable-store sales for the fourth quarter of 2013 increased 4.3%.

Net earnings for the fourth quarter of 2013 were $422 million, compared to $392.8 million in 2012, an increase of 7.4%. Earnings per share for the fourth quarter increased to $0.54 for 2013, up from $0.50 per share in 2012.

Men's Wearhouse and Jos. A. Bank may be inching closer to a deal. Men’s Wearhouse announced that it had reached a nondisclosure agreement with its rival, setting up talks that could lead to a merger of the two retailers.

The two firms announced they are exchanging certain confidential information with each other and working in good faith to evaluate a potential combination.

As part of the agreement, Jos. A. Bank submitted a draft of a merger agreement to Men’s Wearhouse.

Prairie Farms Dairy has rolled out a line of Old Recipe Seasonal Favorites Milk in three flavors: Jelly Bean, Chocolate Marshmallow and Easter Egg Nog.

According to the dairy, the milk is ultra-pasteurized and has an extended shelf life of 75 days, and all flavors are produced using milk from cows not treated with artificial growth hormones.

Peapod has opened a new fulfillment facility in Agawam, Mass., to better serve the needs of consumers from Hampshire and Hampden counties in Massachusetts.

Improving shopper insights in omnichannel retailing is the top ranked priority for retailers who fear other operators may be doing a better job than they are. That is one of the key findings in a new research report from industry leader EKN that shows retailers still have a long way to go when it comes to leveraging the power of analytics.
 

Stater Bros. Charities has presented a check in the amount of $75,000 to City of Hope to train a social worker in geriatrics and serve as the primary point person for elderly patients.

The social worker will gain hands on experience working with the geriatrics team, participate in educational conference calls, seminars and conferences and develop a comprehensive resource manual for older patients that will provide information about support services on campus and in the community.

As Kimberly-Clark continues to focus on driving global expansion, the company has made executive changes so it can execute its business goals.

Elane Stock, group president of Kimberly-Clark Professional (KCP), has been elected group president of K-C International (KCI), and is succeeding Christian Brickman, who is leaving to pursue a senior executive officer position outside of K-C. Kim Underhill, currently president of K-C's European consumer business, has been elected president of KCP.

Ascena Retail Group, the operator Lane Bryant, Justice and Dress Barn stores, cited increased spending on growth initiatives and a challenging sales climate for a second quarter profit decline and its second full year earnings guidance reduction in two months.