Corporate Governance

Sports Authority is trying out a new store format in its first-ever store in Puerto Rico. The 35,000-sq.-ft. location in Ponce opened its doors Saturday, Oct. 19.

The company describes the new format as an intuitive one that allows consumers to easily find exactly what they need. Featuring specialty sport shops and a spacious layout, the store has been designed specifically to enhance the shopping experience.

Bentonville, Ark. – Wal-Mart Stores, Inc. has reportedly named two new managers for its China business. According to Bloomberg, an internal corporate memo indicates Wal-Mart is naming Adrian Blake as senior VP of business development in China and Rob Bray as senior VP of real estate in China.

Park City Group, a leading consumer goods supply chain technology provider, has appointed Gary Rocheleau as a senior adviser.  

Rocheleau, who has more than 40 years of experience, will be responsible for developing business solutions, consulting and expanding efforts in the retail channel.

Columbus, Ohio – Big Lots has named Andrew Stein as senior VP, chief customer officer. Prior to Big Lots, Stein was a marketing executive at Kmart, where he served a number of roles leading up to his appointment as chief marketing officer in August 2011. Stein’s appointment is in line with Big Lots’ intent to expand its digital presence.

Leading U.K. food retailer Sainsbury just past online grocery sales of £1 billion ($1.6 billion U.S.) and to celebrate the occasion announced plans to open its first dedicated online fulfillment center in east London.

Home delivery of grocery is more commonplace in the U.K., especially London, where higher population densities and prohibitively high fuel prices discourage vehicle ownership.

Pleasanton, Calif. – The board of directors of Safeway Inc. has increased the authorized level of the company's stock repurchase program by $2 billion. Through the end of the third quarter of 2013, Safeway had approximately $800 million remaining under its previously authorized stock repurchase program.

Fort Worth, Texas -- Pier 1 Imports announced that its board of directors has authorized a new $200 million share repurchase program.

The new share repurchase program is effective immediately and authorizes the repurchase of up to $200 million of the company’s common stock in open market or private transactions. As of October 17, 2013, Pier I had approximately 103.8 million shares of common stock outstanding.
 

Former Walmart executive Dijuana Lewis will be joining Aetna as EVP, responsible for the newly formed Consumer Products and Enterprise Marketing organization.

In this role, she will be responsible for aligning consumer-focused businesses, products, services and capabilities to deliver a personalized end-to-end consumer experience that positions the company for long-term growth.

Lewis will report directly to Aetna chairman, CEO and president Mark Bertolini and will be a member of the company’s executive committee.