News

Cleveland -- American Greetings Corp. said Monday that the founding Weiss family has reached a deal to acquire the gift cards and party goods company for about $878 million.

The transaction is expected to close in July, and “returns the company to private ownership in a way that we believe enables the company to continue to serve the interests of its customers, employees, suppliers and the communities in which it operates as it has for over a century," said Jeffrey Weiss, president and COO.

LOS ANGELES — Virtual Piggy, an online service that allows parents to monitor their children's online shopping behavior, has appointed Iain Herd as global mobile product director.

With over thirteen years experience in product management, and seven years leading mobile initiatives at major corporations, Iain will be responsible for directing and managing Virtual Piggy’s Mobile First initiative, reporting directly to CEO and founder, Dr. Jo Webber.

FOOTHILL RANCH, Calif. — Wet Seal has announced the promotions of the company’s two divisional merchandising managers for its Wet Seal brand. Kim Bajrech has been appointed SVP, general merchandising manager apparel, and Debbie Shinn has been appointed SVP, general merchandising manager accessories and ready-to-wear.

DEERFIELD, Ill. — Walgreens has selected OMD to be its new media planning and buying agency of record. OMD will be responsible for U.S. and Puerto Rico activity related to traditional, multicultural, digital and mobile media planning and buying. The business will be led from OMD’s Chicago office.

Hoffman Estates, Ill. -- An SEC filing on Thursday revealed that Sears Holdings Corp. former CEO Louis D’Ambrosio, who stepped down in February citing family health issues, saw his total compensation package shrink nearly 90% from the prior year.

According to the proxy statement filed with the Securities and Exchange Commission, Sears said D’Ambrosio's salary rose to $1 million in 2012 from $930,769 in 2011. However, the value of his perks, such as corporate housing and travel, shrank to $278,741 from $852,037 in 2011.
 

MAITLAND, Fla. — Publix Super Markets is supporting the March of Dimees with a new fundraising campaign taking place April 6 through the 27.

The cutout campaign coincides with March for Babies, the March of Dimes signature event, which occurs on April 27 in most areas. Associates will sell the cutouts at the checkout and ask customers to sign their name or the name of a baby they love, creating an impressive in-store display.

Evansville, Ind. -- Shoe Carnival reported Monday that net earnings for the quarter ended Jan. 28 slipped to $3.2 million, compared with $3.3 million in the year-ago period.

Revenue rose 13.1% to $205.7 million from $181.9 million, and same-store sales edged up 0.5%.

For the full year, profit rose to $29.3 million from $26.4 million, sales increased 12.1% to $855 million, and same-store sales advanced 4.5%.

AURORA, Colo. — Walgreens announced Monday an expansion of its relationship with SolarCity, saying the new power systems would reduce more than 47.5 million pounds of carbon dioxide emissions over the next two decades.

The Colorado-based firm will install solar power systems at 22 Walgreens stores in 14 cities in the state over the next few months.