WHOLE FOODS BARS EXECUTIVES FROM WEB POSTINGS
AUSTIN, Texas — Whole Foods Market here posted a new “code of business conduct” on its website this month that bars top executives from posting comments about the company, its competitors or its vendors on Internet message boards, chat rooms or similar media. The change in policy follows the revelation earlier this year that John Mackey, the company's chairman and chief executive officer, had for several years posted messages about Whole Foods and its rivals on Yahoo! stock-market message boards under a pseudonym. The company's board cleared him of wrongdoing, although the Securities & Exchange Commission has an ongoing investigation. The new rule applies only to online forums not sponsored by Whole Foods itself, and only to persons holding posts of regional vice president and higher. Violation of the policy “will be grounds for dismissal,” the policy states.
PUBLIX'S EARNINGS DOWN IN ‘DIFFICULT ENVIRONMENT’
LAKELAND, Fla. — Publix Super Markets here said sales were up by 6.5% but earnings fell by 1.5% during its third quarter ended Sept. 30. “Our operating performance was solid in a difficult economic environment,” Charlie Jenkins Jr., Publix's chief executive officer, said in a statement. Overall sales totaled $5.6 billion, up from $5.2 billion in the same period a year ago. Earnings fell to $249 million from $252.9 million last year; earnings per share was 30 cents in both periods. Comparable-store sales increased by 4.5% in the quarter. Over the year's first nine months, sales were $17.1 billion, up by 6.4%, and earnings were up 8.4% to $873 million, Publix said.
KROGER SETTLES WITH CINCINNATI, W.VA. UNIONS
CINCINNATI — Union employees in greater Cincinnati voted to approve a three-year contract with Kroger last week. The new deal covers about 11,000 workers at 75 Kroger stores represented by United Food and Commercial Workers Local 1099 here. The union said the contract provides “affordable health care, a secure retirement, and wage increases consistent with Kroger settlements in the region.” Kroger last week also reached a tentative agreement with some 3,250 UFCW Local 400 workers at 41 stores in West Virginia, Kentucky and Ohio.
HY-VEE EYES FIRST EXPANSION INTO WISCONSIN
DES MOINES, Iowa — Hy-Vee here is making plans to open its first store in Wisconsin, a company spokeswoman told SN last week. The site, a former Kmart in Madison, would represent Hy-Vee's first store in Wisconsin and the first new state the retailer has entered since expanding to Kansas in 1988. “We're excited about it,” Chris Friesleben, the spokeswoman, told SN, but noted the project requires several approvals before an opening date is announced.
SAFEWAY COMMEMORATES 1,000TH STORE REMODEL
PLEASANTON, Calif. — Safeway is hosting regional grand opening events in 13 market areas nationwide to celebrate the opening of its 1,000th “lifestyle” store, the retailer said last week. Safeway launched its lifestyle store concept in late 2003 to differentiate its stores behind proprietary perishable and prepared food offerings. With the 1,000th-store makeover complete, nearly 60% of its 1,738 stores have been renovated, Safeway said.
YUCAIPA PURSUING INTERSTATE BAKERIES ACQUISITION
KANSAS CITY, Mo. — Management of Interstate Bakeries here filed a plan of reorganization last week, but the maker of Wonder Bread and Twinkies said it would also look at other plans, including a tentative buyout led by Los Angeles-based investor Yucaipa Cos. Interstate said it had agreed to provide Yucaipa with financial information to determine whether it would make a bid for the company, which has been operating under Chapter 11.
