Events

WASHINGTON — The vitality of consumer packaged goods companies is healthy again, according to a new report issued by the Grocery Manufacturers Association and PricewaterhouseCoopers on Wednesday.

Minneapolis -- Best Buy Co. said Tuesday that it will buy back $5 billion of its common stock and raise its quarterly dividend by 7%.

The retailer said that the buyback replaces a $5.5 billion repurchase program that had about $800 million left as of May 28. The announcement came just ahead of its shareholders meeting in Richfield, Minn.

PLEASANTON, Calif. — Safeway celebrated National Picnic Day on Monday by breaking the Guinness World Record for longest picnic table and debuting its new private-label brand.

The record-setting picnic, held at the Marina Green in San Francisco, featured Safeway's Open Nature, a newly launched line of all-natural foods that includes meat and poultry, bread, yogurt, ice cream and salad dressing products, that were prepared by Food Network chef Tyler Florence. Safeway also succeeded at building a table exceeding 305 ft.

New York City -- Do you think Apple retail guru Ron Johnson will transform J.C. Penney Co.?

Click here to register your opinion with the Chain Store Age poll.

STOCKHOLM — H&M announced that it is collaborating with Versace for its autumn 2011 designer collection. Designed by its creative director Donatella Versace, the exclusive collection will look back to the vibrant heritage of the brand, full of leather, print, colour and exuberance in exclusive materials at fantastic H&M prices, according to the company. The collection will include ranges for women, men and selected pieces for the home. It will be available from Nov. 17 in around 300 stores worldwide, as well as on-line.

Paris -- The Carrefour SA board of directors on Tuesday approved a plan for its CEO Lars Olofsson to also assume the role of chairman. According to a report by the Wall Street Journal, Olofsson will take over as current chairman Amaury de Seze announced Tuesday that he would step down.

"The time has come to reunite the two functions," De Seze said. He will remain on Carrefour's board.

NEW YORK — Macy's announced that its "Macy's Chefs A-Go-Go" food truck tour will kick off in Miami on June 28. The first-ever tour will feature a chef from Macy's Culinary Council at each stop. MCC chefs include Cat Cora, Todd English and Marcus Samuelsson.