Albertson’s Debt Ratings Lowered
New York City, Moody’s Investors Service cut debt ratings for Boise, Idaho-based Albertson’s. The retailer’s profits don’t measure up to competitor Wal-Mart Stores, and other grocery chains, Moody’s said. Albertson’s senior unsecured long-term rating fell one level to “Baa3.”
Safeway Appoints White
Pleasanton, Calif., Safeway Inc. appointed James D. White, 44, to the position of senior VP, corporate brands. He will oversee the corporate brands organization including its marketing, manufacturing, finance and outside sales functions. He joins Safeway from Gillette Company where he spent three years as senior VP for business development, North America.
Seven-Eleven Japan Extends Offer
Tokyo, Seven-Eleven Japan Co. announced that, at the request of the special committee of the board of directors of 7-Eleven, it has extended its all-cash offer for the outstanding shares of 7-Eleven that it does not already own until midnight, EST, on Tuesday, Oct. 18. The extension will provide the special committee with additional time to complete its review and evaluation of the tender offer.