FINANCE

Supervalu CEO’s ’09 pay package valued at $4.1M

BY CSA STAFF

Portland, Ore. Supervalu chairman and CEO Jeffrey Noddle received compensation valued at $4.1 million in fiscal 2009, down 22% from a year earlier. Meanwhile, the value of his salary, stock options and other perks grew, according to an Associated Press analysis of a regulatory filing.

The value of Noddle’s pay package fell to $4.1 million for 2009, from roughly $5.3 million in the prior fiscal year. However, Noddle’s 2009 base salary rose 2.9% to $1.2 million. His package also included stock options valued at $2.9 million at the time they were granted, up from $2.7 million a year earlier. Perks included in his compensation increased 12% to $83,199. Among these perks were $26,148 for use of the company aircraft and more than $3,000 for an executive physical.

Noddle and other top executives did not receive an annual cash bonus because the company did not meet a series of performance-based goals for the year. In 2008, he received a performance-based bonus of $1.3 million.

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Target pushes for healthier U.S.

BY CSA STAFF

MINNEAPOLIS Target has partnered with RedBrick Health to pilot a wellness program that includes advocates who are available to assist team members with all things related to health. In addition, Target has also become a founding member of the Alliance to Make U.S. Healthiest, a new coalition that strives to help U.S. citizens become more physically and emotionally healthy.

“We firmly believe that healthy team members create a more successful business and vibrant communities,” said Jodee Kozlak, Target’s EVP human resources. “We want all team members and their families to focus on prevention–the key to access and affordability.”

The company’s wellness program includes adopting specific cost containment measures and offer choices to that focus on prevention and wellness. In addition, Target said it supports a national framework for health care that allows multi-state employers to offer consistent and uniform benefits in a cost-effective manner.

Target announced support for national programs as well. As a member of the Alliance to Make U.S. Healthiest, the company will help create a national movement that promotes individual health and well-being throughout local communities. Additionally, Target has partnered with the Centers for Disease Control and Prevention to create important, relevant health messages.

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Comps guidance will be key

BY CSA STAFF

The first-quarter financial results Target is set to report tomorrow will be interesting, but the bigger story promises to be the company’s expectations for second-quarter same-store sales growth. The consumer spending environment remains very uncertain, and, although confidence has improved, shoppers remain very selective, and there really isn’t much data to suggest spending will improve anytime soon for home and apparel categories on which Target is highly dependent.

The uncertainty of the spending environment was highlighted last week when Wal-Mart reported first-quarter results and said it expected same-store sales at its U.S. stores to increase in a range of flat to 3%. That is an abnormally wide range of guidance, and it suggests that Wal-Mart, despite having unrivaled insight into the consumer spending climate afforded by its size, essentially has no idea what to expect in the second quarter. Target doesn’t enjoy the predictability of Wal-Mart’s massive food and consumables business so its ability to provide comps guidance is even more challenging. In addition, a major complicating factor in accurately forecasting second-quarter sales is the fact that retailers are cycling against the second quarter of 2008 when millions of Americans received, and promptly spent, economic stimulus checks distributed by the federal government.

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