News

The merger between Albertsons and Safeway is expected to close in a few months and when it does the combined company already has a new senior leadership and field operations structure in place.

The companies late Friday announced key leadership positions it said drew on strong talent within both organizations to build an innovative, customer-focused and growth-driven company.

Investors don’t seem to care that Home Depot’s data breach is being characterized as the largest ever in the retail sector with shares of the company hitting a new high on Friday.

Home Depot shares touched a 52-week high of $93.75 on Friday a day after the company disclosed details about an extensive data breach which went undetected for months and compromised the information of 56 million customers.

R.J. Reynolds Tobacco Company has appointed Debra A. Crew president and chief commercial officer, effective Oct. 1. Crew is currently the president and general manager of PepsiCo North America Nutrition.

Digital identity solution provider ID.me has unveiled its new retail rewards marketplace, which helps retail brands hyper-target valuable influencers and consumer segments with exclusive offers that are protected from fraud.

The Clorox Company’s board of directors has promoted Benno Dorer to CEO, effective Nov. 20. At that time, Donald R. Knauss will continue serving on the board in a newly created executive chairman role.

Knauss has served as chairman and CEO of the company since October 2006. Since January 2013, Dorer, 50, has served as EVP and chief operating officer, cleaning, international and corporate strategy.

Philadelphia -- Nearly one-quarter (24%) of retailers expect a significant increase (5% or more) in year-over-year sales during the 2014 holiday season, while another 70% are predicting sales will be on par with the 2013 season, according to a survey by global management consultancy Hay Group.

New York -- The nation’s three largest off-price retailers (TJX, Ross Stores and Burlington) will see above-average growth, in the 6%-8% range, over the next five years, compared with 4% growth for the broader retail industry, according to a new report by Moody's Investors Service. The leaders in the space have thousands of vendor relationships and significant scale, so supply constraints aren't likely to hinder their growth, the report noted.

Research Triangle Park, N.C. -- Forty-one percent of online retailers plan to offer free shipping and returns as a strategy to increase holiday sales this year, according to a new survey by Channel Advisors, and free shipping also ranked as the most successful service feature for generating a higher level of customer satisfaction. The Multichannel E-Commerce Study also reveals that 86% of surveyed retailers expect to increase their year-over-year online holiday sales in 2014.

New York -- Costco Wholesale Corp will stop accepting American Express cards at its stores in Canada, effective January 1, 2015.

“The credit card relationship between American Express and Costco Wholesale Canada will not be renewed when it expires on Dec. 31,” the company stated in an e-mail to Canadian customers.

Costco’s U.S. locations will continue to accept American Express Cards, with the exception of TrueEarnings and American Express Platinum Cash Rebate cards issued in Canada, the chain said.

Camp Hill, Pa. -- Rite Aid Corp. on Thursday reported better-than-expected profit and sales for the second quarter. But the chain cut its full-year profit outlook, citing lower reimbursement rates and anticipated lower profitability from new generics and generic drugs that recently lost exclusivity.

Rite Aid’s second-quarter profit surged to $129.2 million, up from $32.8 million in the year-earlier period,