Goodwin to head snacks and pet care at P&G
CINCINNATI Procter & Gamble announced last week that John Goodwin has been named president of global snacks and pet care. Goodwin was previously serving as vp of finance and accounting for global health and well-being.
In addition, P&G announced the retirement of James Johnson, chief legal officer, effective June 1. Johnson will be succeeded by Steven Jemison, currently deputy general counsel.
A.G. Lafley, P&G chairman of the board and ceo, commented on Goodwin’s appointment, “With his vast experience across our businesses and strong leadership skills, John is a superb choice to lead the investment in and growth of our snacks and pet care businesses.”
Staples Offers Bid for Corporate Express
Philadelphia Staples Inc. made an unsolicited $3.7 billion bid for Corporate Express on Tuesday after unsuccessful attempts to hold merger talks with the Dutch office supply company.
Corporate Express rejected the offer, saying it undervalued the company. A deal, which has been rumored for months, would allow Staples to cut costs and expand its market share and product line in the United States, where Corporate Express generates around 50% of its revenue, analysts said.
Hedge funds and investors have pressed Corporate Express to seek a buyer or break apart the company due to problems with shrinking sales and margins in the United States, its key market.
Yet the company recently added new management and said earlier this month that it had reversed slumping U.S. sales in the last quarter of 2007. It also reiterated its desire to continue as an independent firm.
ShopperTrak: Weekly Sales Up 5.9%
Chicago ShopperTrak RCT Corp.’s National Retail Sales Estimate reported that February continued its strong retail showing as sales for the week ending Feb. 16 increased a healthy 5.9% compared to the same time period last year. It also reported that sales rose 11.1% compared to the previous week ending February 9 of last year.
GAFO retail sales showed impressive gains last week as consumers rushed to various retail locations to shop for Valentine’s Day gifts and to take advantage of widespread President’s Day sales. So far, ShopperTrak’s NRSE has posted an increase six out of seven possible weeks in 2008.
ShopperTrak also reported that to date, average weekly sales for February vs. last year are up 1.3%.