Sara Lee (NYSE:SLE) names Campbell Soup (NYSE:CPB) executive Sean Connolly to run its North American retail and food service business. Once the spinoff of Sara Lee’s international coffee and tea business is completed later this year, Connolly will be taking over as head of the North American meats business.

PetSmart (NASDAQ:PETM) shakes up its executive suite, appointing CEO Bob Moran as its Chairman of the Board. Insider David Lenhardt is also named as President and Chief Operating Officer.

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FedEx (NYSE:FDX) may see a drop of more than 27% in 2013 for a federal mail-flying contract if annual revenue from carrying USPS express, priority and first-class mail shrinks to less than $1 billion, according to SJ Consulting. A Postal Service goal of saving $2.1 billion a year isn’t reachable without “a reduction of the number of packages that they will need transported by air.”

Family Dollar (NYSE:FDO) fiscal first quarter gross margin dwindled but some analysts defend it in spite of the drop off. Citi (NYSE:C) says FDO can “more than offset the deterioration through better SG&A leverage,” and points to “the closing of its performance gap vs. Dollar General (NYSE:DG) in both sales per square foot and EBIT margin.”

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To contact the reporter on this story: Tanya Harding at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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