Corporate Governance

San Diego -- Harmons Grocery, a 16-store regional chain in Utah, is reporting significant benefits from the deployment of in-store solutions from Carttronics. The retailer has implemented  Carttronics’ push-out-prevention, hand-basket protection, cart inventory management, loss prevention video capture and remote system monitoring applications at five locations, with a sixth due to come on board soon.



By John Paluszek, [email protected]

This time it is different.
 
But the question remains: Is it different enough? Let us, then, count the ways.
 
The “tipping point” may seem facile, but the current dramatic increment of tragic incidents is now more toxic to more corporate reputations.  That’s a big deal, generating a new dimension of company action.
 

CINCINNATI — Phillips Edison & Company has named John S. Kokinchak, SCSM, SCLS, as GM of Parmatown Mall in Parma, Ohio, Cleveland's largest suburb.

Kokinchak, a veteran executive of the shopping center industry, will assist in leading the transformation of the historic retail location into The Shoppes at Parma, a "Main Street" destination for shopping and dining that will act as a town center for residents of Parma and surrounding communities.

BENTONVILLE, Ark. — Walmart’s board of directors has given the company the green light to repurchase $15 billion of its shares, effective June 6, the company announced at its annual shareholders meeting. 

This program replaces the previous $15 billion program announced on June 3, 2011. As of June 6, the company had approximately $712 million remaining on the 2011 Authorization. Under the share repurchase program, repurchased shares are constructively retired and returned to unissued status.

MINNEAPOLIS — Christopher & Banks, a specialty women’s apparel retailer, reported a same-store sales increase of 23% for the 13-week period ended May 4, 2013, as compared to the 13 weeks ended May 5, 2012.

The company’s net sales totaled $109 million, a 16% increase from $94 million for the 13 weeks ended April 28, 2012. During the quarter, the company operated an average of 10.5% fewer stores than during the comparable period last year.

HOFFMAN ESTATELES, Ill. — An unseasonably cool spring and rising costs affected first-quarter earnings for the period ended May 4 at Sears Hometown and Outlet Stores, which reported a 27% drop in profit for the quarter. However, the company is focusing on improving signs in late spring.

Sears Hometown earned $15 million in the quarter that ended May 4, compared with $20.6 million in the year ago period.

Revenue dropped 3% to $601.1 million. Same-store sales fell 5%.

NEW YORK — Target has set its sights on consumers who want organic, natural products, with a new organic and natural store brand called Simply Balanced, according to a report by the Associated Press.

Target told the AP that it will begin to roll out drinks and snacks like corn chips on Sunday, June 9. According to the report, the line is an outgrowth of similar products within its existing Archer Farms store brand, which is positioned as a premium alternative to national name brands.

PITTSBURGH — Berkshire Hathaway and an investment fund affiliated with 3G Capital have completed their acquisition of H.J. Heinz Company. 

Heinz shareholders will receive $72.50 in cash for each share of common stock they owned as of the effective time of the merger, without interest and less any applicable withholding taxes. As a result of the completion of the merger, the common stock of Heinz will no longer be listed for trading on the New York Stock Exchange and Heinz expects no further trading after the close of business on June 7.

ORANGEBURG, N.Y. — OSL Holdings, a developer of technology platforms that enable real-time sales and trend information exchange between brands and retailers, has launched its Equality Rewards Mobile platform, iPhone app and mobile website. 

The Equality Rewards iPhone app is downloadable free through the Apple App Store or you can sign-up through your smartphone.

ST. PAUL, Minn. — CHS Inc., an energy grains and foods company and the nation's leading farmer-owned cooperative, has promoted Roger Baker to VP and GM of CHS Europe. The company also announced that SVP and CEO of CHS Europe Claudio Scarrozza plans to retire.