Corporate Governance

SALISBURY, N.C. — Food Lion continues to roll out its new brand strategy, this time bringing the program to 269 stores in North Carolina and South Carolina, including its headquarter city of Salisbury, N.C. 

Food Lion's brand strategy offers customers lower prices on 6,000 items throughout the store and access to quality store brand products at lower prices, including the company's my essentials value tier, as well as enhanced produce and an easy and convenient shopping experience, such as faster checkout.

VALHALLA, N.Y. — Fujifilm Holdings America Corporation announced that, effective June 28, Kaz Yamamura has been named as the new president of Fujifilm Holdings America Corporation; and Go Miyazaki has been promoted to president and COO of Fujifilm North America Corporation.

In his new role, Yamamura will also serve as the new chairman and CEO of Fujifilm North America Corp., overseeing management of eleven Fujifilm companies that operate in the United States. He is also a member of the board of directors and corporate VP Fujifilm Corp.

REDWOOD SHORES, Calif. — JCPenney will implement a complete, open and integrated suite of Oracle Retail solutions designed to streamline operations and improve the cross-channel customer experience. The department store retailer will deploy applications in a host of critical areas, including merchandising, supply chain and store operation, to support its transformation initiatives.
 

NEW YORK — Best Buy plans to hire 500 new Geek Squad staffers. The move comes some two weeks after the retailer said it would lay off 600 existing workers in the tech support arm of its business as it looked to focus the group less on basic installation services and more on remote tech consulting. It also comes as Verizon announced it was partnering with Geek Squad to offer services to meet the information technology requirements of small and mid-size businesses across the country.

Purchase, N.Y. -- June spending at small retailers increased 8% in 2012 compared to June 2011, higher than the overall U.S. retail growth rate of 6.9%, according to a new SpendingPulse report issued by MasterCard Advisors in partnership with Wells Fargo. The same report also found that sales growth at small retailers has now outperformed growth of overall retail sales for nine consecutive months, since October 2011.  

New York -- J.C. Penney CEO Ron Johnson said that he is sticking with the chain’s new pricing strategy and that the company’s board of directors was “totally supportive.”

In remarks at Fortune magazine's Brainstorm Tech conference in Aspen, Col., Johnson acknowledged that J.C. Penney initially confused customers when it came to explaining the new pricing strategy.

By Mark Robinson, UPS Capital Corp.

Redwood Shores, Calif. -- J. C. Penney Co. will implement a complete, open and integrated suite of Oracle Retail solutions designed to streamline operations and improve the cross-channel customer experience. The department store retailer will deploy applications in a host of critical areas, including merchandising, supply chain and store operation, to support its transformation initiatives.
 

New York -- Ralph Lauren Corp. said CFO Tracey Travis has resigned to pursue other interests.

Robert Madore, senior VP finance, will assume the role on an interim basis, effective July 30, the company said in a regulatory filing.
 

Birmingham, Ala. -- Books-A-Million said its largest shareholder group, the Anderson family, has withdrawn its non-binding offer to take the company private.

The Anderson family, which owns a 53% stake in the chain, had offered $3.05 per share in cash to take the company private in April.

“After discussing the proposal with the special committee of the company’s board of directors and its advisers, the Anderson family has decided not to pursue the proposed acquisition at this time,” the company said in a statement.