News

Chicago -- A study released on Tuesday by BDO USA found that retailers are generally confident that year-end sales will top last year’s. According to the sixth-annual BDO Retail Compass Survey of CFOs, which examined the opinions of 100 leading retail CFOs nationwide, retailers are expecting a 4.5% increase in total 2012 sales.

Orchids Paper Products Company was recognized as Dollar General’s private label vendor of the year at the retailer’s annual vendor summit.

Orchids said it received the award in recognition of its innovation, dependability and excellence in its partnership with Dollar General.　

Atlanta -- The “True Cost of Fraud” study by LexisNexis found that retailers incurred $2.70 in costs for every dollar in fraudulent transactions. The cost incorporates charge backs for merchandise, the fees and interest to financial institutions and payment processors as well as any replacement, redistribution or restocking fees incurred by a merchant.  

BENTONVILLE, Ark. — Walmart has launched part of its Fighting Hunger Together fall initiative to provide meals to communities in need.

Delray Beach, Fla. -- Starboard Value disclosed on Monday that it has taken a 13.3% stake in Office Depot. According to a report by Reuters, the activist hedge fund now becomes the office supply retailer’s biggest shareholder.

In a letter to Office Depot CEO Neil Austrian, Starboard CEO Jeffrey Smith called for lowering expenses to improve performance.

WOONSOCKET, R.I. — The CVS/pharmacy ExtraCare program, which boasts more than 70 million active members, now gives shoppers the ability to earn bigger rewards on most purchases during the peak fall and winter shopping season.

From Sept. 16 through Dec. 15, ExtraCare members can double their quarterly ExtraBucks Rewards by choosing to participate.

Bellevue, Wash. -- Eddie Bauer LLC said Monday it has named Daniel E. Templin as COO and CFO of the company.

Templin was previously CFO for VF Outdoor, which includes brands such as The North Face, Vans, JanSport and Timberland.

Eddie Bauer also announced that current CFO Marv Toland will move into the newly created role of senior VP Direct with responsibility for the brand's e-commerce and catalog businesses.

BETHEL, Conn. — Duracell has tapped National Football League All-Pro linebacker Patrick Willis for the brand's Trust Your Power program, which aims to encourage fans to follow their dreams.