Supervalu fires Herkert as CEO; appoints chairman to post
Minneapolis — Supervalu Inc. said on Monday that its chairman Wayne Sales has been named president and CEO. He replaces Craig Herkert as CEO.
“In my new role, I will work closely with our leadership team to improve our sales and earnings trajectory and generate long-term shareholder value, focusing relentlessly on identifying factors that will drive meaningful improvements in our strategy execution and overall performance,” said Sales. “We will take significant cost out of the business, and move with urgency in our retail food business to lower prices and create points of sustainable differentiation for our customers.”
Sales, 62, will continue to serve as chairman of Supervalu’s board. He is the retired vice chairman of Canadian Tire Corporation Limited, one of the nation’s largest general merchandise retailers.
Supervalu, the nation’s third-largest supermarket chain, earlier in July reported declining quarterly sales and earnings said it was exploring options that included a sale of all or part of the company.
Newell Rubbermaid posts declines in Q2
Newell Rubbermaid’s net sales declined 1.9% to $1.52 billion in the second quarter ended June 30. Net income declined 23.8% to $111.8 million. But those declines didn’t prevent CEO Michael Polk from looking at the bright side and pointing to momentum.
Core sales, which exclude the impact of changes in foreign currency translation, grew by 0.4%. And net sales for the first six months were $2.85 billion, up 1.0 % from the first-half results last year.
"Our solid second-quarter results build on the momentum established in the first quarter, resulting in a good first half of 2012,” Polk said. “During the first half, we reported 2.5% core sales growth, normalized operating margin expansion of 20 basis points, and normalized earnings per share increase of 8.1%."
Among Newell Rubbermaid’s brands are Rubbermaid, Sharpie, Irwin and Lenox.
The company also pointed to double-digit core sales growth in emerging markets.
True Value and Epicor expand alliance
Epicor Software Corporation and True Value Co., announced the continuation of an agreement naming Epicor as True Value’s recommended Epicor(R) Eagle(R) point-of-sale (POS) solution provider.
This 3-year agreement provides more of True Value’s retailers the opportunity to benefit from Epicor solutions, according to the companies.
"True Value is excited to continue this partnership with Epicor as one of our preferred POS vendors," stated Rosalee Hermens, vice president and chief information officer for the True Value Company. "We look forward to Epicor’s continued support and POS software solutions to help drive sales for our retailers."
The recently signed agreement includes:
• A new focused drive to get preferred system penetration;
• More stores sharing POS data to populate Retailer Workbench;
• Increasing POS standardization across True Value; and
• Expanded sales opportunities for the Unity Customer Base as well as all Epicor supported stores.