News

NEW YORK — Procter & Gamble, in partnership with Walmart.com, is targeting urban shoppers in New York and Chicago throughout the month of June to offer savings on limited-edition everyday essentials.

Through the promotion — which kicked off in Chicago on Wednesday and launched in New York on Thursday — P&G is bringing to life its “everyday needs delivered for free” message for consumables.

People today seamlessly integrate the use of all types of technologies in their lives, including the way they shop – at any time, at any location. As a result, they are more informed and selective about the products and services they want and use, and are more empowered towards the industries that serve them.

New York -- Private equity firm Madison Dearborn Partners has purchased Things Remembered from Bruckmann, Rosser, Sherrill & Co. (BRS) and GB Merchant Partners for $295 million.

Birmingham, Ala. -- Hibbett Sports announced that Scott J. Bowman has joined the company as senior VP and CFO effective July 9. He will replace Gary Smith, whose retirement is effective July 8, 2012.

Bowman was most recently division chief financial officer – Northern Division for The Home Depot, a position he has held since 2006.
 

New York -- The Fisher family, the founders of Gap Inc. have acquired a stake in high-end riding-gear and apparel company Ariat International Inc.

The Fisher family, along with Ariat management, purchased the firm from LNK Partners and Brentwood Associates. Terms of the sale were not disclosed.
 

PHILADELPHIA — Comparable sales slipped 2.8% at Pep Boys during the first quarter ended April 28, as customers were slow to come to the retailer for parts and services. The comps decline consisted of a 1.2% comparable-service revenue decrease and a 3.2% comparable-merchandise sales decrease. Total sales for the quarter increased by $11.1 million, or 2.2%, to $524.6 million from $513.5 million for the same period last year.

DALLAS — Tuesday Morning has ousted president and CEO Kathleen Mason and has begun a search for a new chief executive. Michael Marchetti, EVP and COO, has been promoted to president and COO and will serve as interim CEO until a replacement is found. Melinda Page, SVP, general merchandise manager has been promoted to EVP and chief merchandise officer and Seth Marks SVP of alternative sourcing and e-commerce has been promoted to SVP and chief marketing officer.

BENTONVILLE, Ark — Walmart has teamed up with Sony Pictures Home Entertainment and Marvel Entertainment to offer customers the ultimate Spider-Man experience weeks before the release of The Amazing Spider-Man, in theaters July 3.

MINNEAPOLIS — Best Buy founder Richard Schulze has decided to step down as chairman of the board in order to pursue other options for his ownership stake.

FULLERTON, Calif. — A store-level workforce reduction is planned for Albertsons' Southern California division.