retail news in context, analysis with attitude

...with brief, occasional, italicized and sometimes gratuitous commentary...

• Kraft Foods announced that October 1 will be the day that it expects to split the company into two entities - the Kraft Foods Group, which will comprise the North American grocery business, and Mondelez International, its global snacks business.

November 1 will be set as the day by which everyone in the company will know howe to pronounce "Mondelez," and December 1 will be set as the day by which everybody knows how to spell it. No date has been set by which the company hopes that everybody working for Mondelez will think that using that name was a good idea.

• The Financial Times reports that Richard Schulze, the founder and former chairman of Best Buy, is bidding to take the company private.

According to the story, Schulze sent the retailer's board "a proposal to acquire the company in alliance with unnamed private equity groups, although he has not reached agreements with any such groups or secured other financing commitments." The proposal reportedly would value the company at almost $9 billion.

He's gonna need more than private equity money. He's going to need some sort of plan to make Best Buy relevant in a 21st century environment ... and up to now, it hasn't been working out all that well...
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