Retail vet Andy Giancamilli retiring as CEO of Katz Group
Toronto — Katz Group Canada has announced the retirement of industry veteran Andy Giancamilli as CEO, effective Feb. 2, 2012. Katz is Canada’s largest integrated pharmacy network, operating more than 1,800 chain, franchise and independent pharmacies,
Giancamilli will remain in an advisory role until May 2012. He will be succeeded by Frank Scorpiniti, who joined the company in April as COO.
Giancamilli came to Katz after serving as executive VP at Canadian Tire. Prior to that, he was president and COO of Kmart.
Union representing SoCal supermarket workers takes step toward strike
Los Angeles — The union representing many of the 62,000 workers at Ralphs, Vons and Albertsons supermarkets in Southern California has issued a required 72-hour notice of its plan to cancel its extended contract, Reuters reported. The move that could pave the way for a strike.
The union and the grocery store companies are deadlocked over healthcare coverage. Employees, who have been without a contract since it expired in March, have given the union the go-ahead to call a strike if an acceptable deal for a new contract cannot be reached. The union said grocery workers will begin final strike preparations following the 72-hour notice to cancel the contract.
Report: Consumer confidence remains at second-lowest level of 2011
Washington, D.C. — A report released Thursday by Bloomberg said that U.S. consumer confidence held last week at the second-lowest level of 2011 as the highest number of households in three years said it was a bad time to spend.
The Bloomberg Consumer Comfort Index was minus 49.3 in the period to Sept. 11, near the 2011 low of minus 49.4 reached in May. The buying climate gauge slumped to the lowest level since October 2008.
According to the report, the majority — nine out of 10 — of Americans polled had a negative view on the economy.
The consumer comfort gauge has been stuck below minus 40 — the level associated with recessions or their aftermath — since the end of February. It has averaged minus 45.4 this year, compared with minus 45.7 for 2010 and minus 47.9 in 2009, the year the last recession ended, according to the report.