Corporate Governance

Procter & Gamble has announced a string of organization changes, including the retirement of 37-year company veteran Dimitri Panayotopoulos, vice chairman and adviser to the chairman and CEO, effective Jan. 2, 2014.

Panayotopoulos joined P&G in 1977. He served in sales and general management roles spanning Europe, the Middle East, Africa and Asia, eventually overseeing all P&G brands as vice chair – Global Business Units. As previously announced, he was elected to his current role as advisor to the CEO effective July 1, 2013.

Pinnacle Foods reported a 1% increase in consolidated net sales for the third quarter ended Sept. 29 compared to the year-ago quarter, bolstered by the company’s North America retail business, which is made up of the Birds Eye Frozen and Duncan Hines Grocery segments and which increased 2%.

Party City’s sales during the 2012 Halloween season were adversely impacted by an estimated $10 million as a result of Super Storm Sandy, but the specialty retailer bounced back this year with retail sales totaling $395 million, up 10.6% from the same period last year.

The company's retail banners include Party City (which, in turn, includes the company's Canadian locations and recently acquired and rebranded iParty stores), Halloween City, Party City.com and Party Delights.

New York -- The Men's Wearhouse and Jos. A. Bank Clothiers saga continues with reports that Men’s Wearhouse will review a previously rejected merger with Jos. A. Bank Clothiers.

Eminence Capital LLC, Men's Wearhouse largest single shareholder, said the retailer is still exploring its strategic options, including a possible merger with Jos. A. Bank, the Associated Press reported. The New York-based hedge fund has urged the retailer to quickly engage with Jos. A. Bank over the merger offer that Men's Wearhouse turned down in October.

Portland, Ore. -- Bettery announced that it has teamed up with Safeway to give consumers a convenient way to adopt reusable household batteries, not only reducing their environmental footprint but also saving them money.

Bettery Swap Stations – kiosks for purchasing and exchanging rechargeable batteries – are being installed this month at multiple Safeway locations, starting with stores in Portland, Seattle and surrounding communities.

Portland, Ore. -- Bettery announced that it has teamed up with Safeway to give consumers a convenient way to adopt reusable household batteries, not only reducing their environmental footprint but also saving them money.

Bettery Swap Stations – kiosks for purchasing and exchanging rechargeable batteries – are being installed this month at multiple Safeway locations, starting with stores in Portland, Seattle and surrounding communities.

Fairfield, N.J. -- Amerlux CEO/president Chuck Campagna has announced that Chris McQuillan has joined the management team as VP of sales. Amerlux is a global leader in innovation, manufacturing and creative lighting solutions for a broad range of commercial, retail, hospitality and institutional environments.  

By Lynn Hinderaker, [email protected]

The future is knocking on the door of hedge fund manager and owner of Sears, Eddie Lampert. His decision to split off Lands’ End and Sears Auto Center from the core Sears brand would have been a good decision in 2004, one year after he purchased the deteriorating retail brand. Today, given the monumental shift in online purchasing behavior that has changed all of retailing, Lampert’s move is akin to rearranging the deck chairs on the Titanic.

Thorofare, N.J. -- Shrink, comprised of shoplifting, employee or supplier fraud, organized retail crime and administrative errors, cost the retail industry more than $112 billion globally last year, and represented 1.4% of retail sales, on average, according to the 2012-2013 Global Retail Theft Barometer. In the United States, shrink came in at 1.5% of retail sales.

Bentonville, Ark. -- Walmart will start unveiling its Black Friday deals on Thanksgiving at 6 p.m., which is two hours earlier than last year, and stagger them throughout the night and all Black Friday weekend. The retailer is also offering a special incentive to employees who work on Thanksgiving Day: a 25% discount on an entire purchase this holiday season."