Retail

ATLANTA — Robert Nardelli, former Home Depot and Chrysler CEO, said Friday he is stepping down from his current post as CEO of firearms maker Freedom Group.

Nardelli held the Freedom Group post for just two months before deciding to depart.

He said in a statement Friday that it was a good time for him to focus on his investment and consulting company, XLR-8 LLC.

Freedom Group said it expects to name a permanent successor for Nardelli soon.

NEW YORK — Sprouts Farmers Market, a Phoenix-based natural-foods supermarket chain, has reached an agreement to merge with competitor, Sunflower Farmers Market, based in Boulder, Col. Terms of the deal were not disclosed.

The combined company will operate 139 stores in eight states under the Sprouts banner, with annual sales of approximately $2 billion. It will open about 12 new stores this year.

“Our operations are very similar," said Sprouts president Doug Sanders, who will lead the combined supermarket company.

NEW YORK — Former Cablevision executive, Michael Huseby will join Barnes & Noble as CFO, effective March 13. He will report to CEO William Lynch. 

Huseby will lead the company’s finance organization, aligning the company’s finance and business strategies, optimizing the company’s capital structure and helping to scale the rapidly growing digital business. He will oversee the functions of planning and analysis, corporate development, accounting, treasury, tax, investor relations and internal audit.

EDEN PRAIRIE, Minn. — Supervalu, which already has committed to providing customers with sustainably-sourced wild-caught seafood, has taken the next steps to ensure its farm-raised seafood is also sourced responsibly. The company announced that it is partnering with the Global Aquaculture Alliance (GAA) to implement a new, comprehensive procurement policy to ensure sustainable sourcing of farm-raised seafood.

BENTONVILLE, Ark. — Sam's Club is stepping up its efforts to fight hunger by joining with with two Nashville recording stars, General Mills, key food suppliers and the nation's largest domestic hunger-relief charity, Feeding America, in a nationwide program to help Feeding America secure up to one million meals for local food banks to fulfill critical springtime shortages.

BIRMINGHAM, Ala. — Hibbett Sports Inc. saw its profit for the quarter ended Jan. 28 jump 27% to $15.8 million, compared with $12.5 million in the year-ago period.

 Revenue increased 10% to $190.7 million from $173.2 million, missing Wall Street’s expected $192.2 million in revenue. Same-store sales rose 7.2%.

For the full year, Hibbett reported net income of $59.1 million, up from $46.4 million last year. Revenue rose to $732.6 million, from $665 million.

JOHANNESBURG, South Africa — A South African regulatory body gave Wal-Mart Stores permission on Friday to move ahead with its $2.2 billion purchase of South African chain Massmart.

The Competition Appeal Court upheld a ruling last year by the Competition Tribunal, but did require a study to determine a path to protect small producers who might not be able to compete with foreign producers from whom Wal-Mart can import cheaper goods.

NEW YORK — Belgian supermarket operator Delhaize Group said that its fourth quarter net profit dropped 48%, hurt by impairments resulting from its restructuring. It also announced that Mats Jansson will be the new chairman of the board, and that Pierre Bouchut will succeed Stefan Descheemaeker as CFO, effective March 19.

The company, whose U.S. holdings include the Food Lion, Hannaford Bros. and Sweetbay banners, said it will accelerate the revamp of its stores in the United States and Belgium to increase its competitiveness.