News

NEWARK, N.J. — Inergetics, a developer of nutraceuticals and nutritional supplements, introduced Martha Stewart at the National Association of Chain Drug Stores Total Store Expo at the Sands Expo and Convention Center in Las Vegas Monday, August 12. 

Stewart was there to support the partnership between Martha Stewart Living Omnimedia and Inergetics, Inc. as well as to promote the launch of Martha Stewart Essentials — a complete line of whole-food-based supplements created with Inergetics, specifically targeted for women.

NORTHRIDGE, Calif. — Pharmavite LLC, one of the largest U.S. manufacturers of vitamins, minerals and other dietary supplements, has appointed Timothy Toll as its new EVP of sales.

Santa Clara, Calif. -- Oracle Corp. is launching version 13.3 of its Retail Allocation solution that is designed to deliver real-time inventory levels along with sales and planning information for better assortment planning. Oracle Retail Allocation 13.3 uses embedded business intelligence and multiple data sources to support role-based dashboards that give recommendations based on the entire lifecycle of a product.

BOCA RATON, Fla. — Office Depot is extending an olive branch to its largest shareholder, Starboard Value LLP, to settle a dispute about who should serve on the company’s board of directors. 

In a press release, Office Depot said that if CEO Selection Committee members Tom Colligan and Marsha Evans are re-elected, the company would immediately invite to its board of directors any of the three Starboard nominees recommended by proxy advisory firms Institutional Shareholder Services (ISS) and Glass Lewis who are not elected.

Bentonville, Ark. -- Wal-Mart’s South African subsidiary Massmart Holdings Ltd reportedly seeks a 67% ownership stake in Kenyan retail chain Naivas Supermarkets Ltd. According to Bloomberg, which on Monday reported Naivas was one of several possible Kenyan chains eyed by Massmart for possible expansion, serious talks with Naivas have occurred.

BENTON HARBOR, Mich. — Whirlpool Corporation has entered into agreements to become a majority shareholder in Hefei Rongshida Sanyo Electric Co. Ltd., a leading home appliances manufacturer based in Hefei, China.

Through this transaction, a Whirlpool Corporation subsidiary will acquire all shares currently owned by Sanyo Electric Co. Ltd. and Sanyo Electric Co. (China) Ltd., and purchase new Hefei Sanyo shares via a private placement.

J.C. Penney said activist investor Bill Ackman resigned from the company’s board and was replaced by former Federated Department Stores executive Ron Tysoe.

Washington, D.C. -- Following negative numbers in four of the last five months, import volume at the nation’s major retail container ports is expected to grow 1.7% in August over the same month last year and should continue to see gains through the holiday season and the remainder of 2013, according to the monthly Global Port Tracker report released Tuesday by the National Retail Federation and Hackett Associates. The year is expected to end with a 2.4% increase over 2012.