AB Acquisition LLC, which operates Albertson’s LLC and New Albertson’s Inc., has appointed Rick Navarro, who had been the company’s CFO since its inception in 2006, as chief administrative officer. Succeeding Navarro as the company’s CFO is former Nash Finch executive Robert Dimond.
Since Office Depot completed its merger transaction with OfficeMax Nov. 5, 2013, the company has been aggressively executing its integration plan. The company’s fourth quarter results for the period ended Dec. 28, 2013 include OfficeMax’s operations, which generated $939 million of sales.
Bi-Lo Holdings and Delhaize Group have received approval from the Federal Trade Commission to proceed with the transaction in which Bi-Lo Holdings will acquire substantially all of the stores in the Sweetbay, Harveys and Reid’s supermarket chains from Delhaize.
Although the Home Depot’s overall sales missed analysts' expectations, the retailer said the calendar shift, which resulted in one fewer week in the fourth quarter compared to the prior-year quarter, affected its results.
Tuesday Morning, a leading closeout retailer with 819 stores across the United States, has appointed Douglas B. Sullivan as SVP for real estate and Michael J. Jones as SVP and chief information officer.
Dillard’s CEO William T. Dillard II voiced disappointment in the retailer’s gross margin performance despite what he called a profitable fourth quarter. Although comparable sales grew 2%, the retailer said lower-than-anticipated sales necessitated heavy markdowns.