Corporate Governance

New York -- Disappointing same-store sales results in June weren’t necessarily unexpected, as the month typically trends weaker as shoppers have fewer reasons to shop.

Thomson Reuters, which polls 18 U.S. retail chains, projected its Same-Store Sales Index to inch up 0.5% in June, far below last year’s 6.7% rise for the month. Analysts have said that warm weather may have prompted consumers to make summer apparel purchases earlier than usual, shifting sales from later months like June.

Deerfield, Ill. -- Walgreen Co. has entered into an agreement to acquire Stephen L. LaFrance Holdings Inc., the owner and operator of the USA Drug chain, for about $438 million, gaining stores in several Southern states. The acquisition comes on the heels of Walgreens’ announcement that it was buying a 45% stake in Alliance Boots GmbH for $6.7 billion last month to expand globally.

Dennis Cohen was named VP and general manager of the responsible sourcing unit of global product safety company Underwriters Laboratories.

Cohen spent the past 14 years at Office Depot, most recently serving as senior director of private brand operations and global sourcing. In that capacity, Cohen directed five departments and was responsible for the strategy development and operational execution of Office Depot’s $3.5 billion private brand business. He also served as director of supply chain transportation and logistics at Office Depot.

Shoppers at Army & Air Force Exchange Service (AAFES) stores are being encouraged to think clean this summer as part of a promotion involving Unilever.

The global consumer products company is offering a “Salute to Clean Sweepstakes,” in which customers eligible to shop at AAFES stores can enter to win a $1,000 gift card.

“Exchange shoppers can really clean up this summer,” said AAFES chief of staff Col. Thomas Ockenfels.

The deadline for entry to win one of the 15 gift cards is July 19.

Neill Davis has resigned as CFO at Men’s Wearhouse.

The specialty retailer announced the departure of Davis and indicated he had accepted the position of president at women’s specialty retailer Francesca’s Holding where he has served as a director for the past five years.

Davis’ last day with Men’s Wearhouse will be Aug. 2, according to the company.

WOONSOCKET, R.I — CVS Caremark has been selected by the National Business Group on Health as a platinum winner for its 2012 Best Employers for Healthy Lifestyles awards. CVS Caremark's workforce well-being program was noted to be a role model for other companies striving to improve employee health, productivity and well-being.

The award was presented at the Business Group's Institute on Innovation in Workforce Well-being Leadership Summit held in Washington, D.C.

FORT WORTH, Texas — Kroger has opened a Signature store in the Fort Worth, Texas, market.

The 100,000-sq.-ft. store, which includes a fuel center, places more emphasis on an interactive customer experience and offers more natural and organic foods, chef-prepared meal solutions and ethnic and gourmet food choices. Along with the fuel center, the new store features a pharmacy and offers a vast wine and beer selection. Kroger currently has 30 Signature stores in the Dallas-Fort Worth market.

Walmart observed its 50th anniversary in fine fashion this week as its share price hit an all-time high, even as the company faced familiar charges from vocal critics.

Walmart shares closed Tuesday at an all time high of $70.75, nearly 18% above the $59.97 level where they began the year and more than 46% above the 52-week low price of $48.31 seen late last summer. The move is nothing short of remarkable considering an investment in Walmart was dead money for the past dozen years as shares traded for a little more than $69 back in December 1999.

Vineland, N.J. -- Philadelphia-based Pennsylvania Real Estate Investment Trust said that Body Central has opened a 4,256-sq.-ft. store at Cumberland Mall, in Vineland, N.J.

Justice also recently opened at Cumberland Mall, which is anchored by Boscov’s, Marshalls, J.C. Penney, Burlington Coat Factory, Michaels, Old Navy and Bed Bath & Beyond.

 

Austin, Texas -- Dallas-based SRS Real Estate Partners said that three new store locations have been finalized for Baskins Western and Work Wear in Baton Rouge, La.; Lafayette, La.; and Katy, Texas. 

The new stores will include 12,000 to 15,000 sq. ft., and will bring the western apparel retail chain to 28 total locations.