News

WASHINGTON — Ongoing economic challenges and high gas prices won’t put a dent in shoppers spending intentions this Father’s Day, according to new research from the National Retail Federation.

MIAMI, Fla.  — Winn-Dixie has completed the remodeling of its Miami-area store in Aventura that wil better cater to the community's Jewish residents with expanded kosher offerings.

The remodeled store also featuresa cleaner and more modern and attractive setting, hardwood flooring throughout the produce, deli and bakery departments, and a dedicated area offering free Wi-Fi access and complimentary coffee, the company reported.

At its annual meeting, Lowe’s chairman and CEO Robert A. Niblock continued to hammer on the theme of transformation at the nation's second-largest home center chain.

“Making home improvement simple for customers starts with making it simple for our employees by providing them with the right technology and resources,” said Niblock. “Throughout our 65-year history, Lowe’s has changed many times. To be successful in the future, we must transform the shopping experience for customers wherever and however they choose to shop with Lowe’s.”

DENVER, Colo. and MONTREAL — Molson Coors Brewing Company has announced that Andrew Molson, the current vice chairman of the Molson Coors board of directors assumed the role of chairman, and Pete Coors, current chairman, assumed the role of vice chairman, effective May 26. 

SAN FRANCISCO  — PowerReviews, a provider of social commerce solutions, announced that it has appointed former Google executive Keith Adams as CFO. 

ARLINGTON, Va. — The Food Marketing Institute announced that one of its former executives is rejoining the organization, while another will be retiring.

FMI announced last Friday that Patrick Davis has rejoined the organization as its VP state government relations, where he will serve as the principal liaison between FMI and state associations. Prior to rejoining FMI, Davis served as president and founder of Alliance Consulting.

Houston -- New York private-equity firm Kohlberg Kravis Roberts & Co. LP said Tuesday that it plans to acquire a majority stake in Academy Sports + Outdoors, the Katy (Houston), Texas-based privately held sporting goods retailer with 131 locations throughout the Southeast.

Terms of the deal were not disclosed.

According to KKR, Academy Sports' president Rodney Faldyn will stay on as president and will assume the CEO job from David Gochman, who is the grandson of the chain’s founder.

Old Navy’s updated format is showcased in its new store in Fort Worth, Texas (it is also the first LEED-certified location in the chain’s portfolio). The design is clean and modern, with a colorful palette and a fun, upbeat ambience. A raceway layout and key destination areas make for easy navigation, as do the clear sightlines throughout the space.

New York City -- Consumer confidence declined in May, according to the Conference Board Consumer Confidence Index. The Index now stands at 60.8, down from 66.0 in April. The Present Situation Index decreased to 39.3 from 40.2. The Expectations Index declined to 75.2 from 83.2 last month.

New York City -- Regulators in South African on Tuesday approved Wal-Mart's 17 billion rand (about $2.4 billion) bid to buy a controlling share of Massmart Holdings Ltd. The Competition Tribunal of South Africa approved the deal on the condition that no job cuts take place for two years. It also requires the merged entity to give employment preference to 503 Massmart employees who lost their jobs.