Together with his brother Karl, two years his senior, he created the notable no-frills grocery chain Aldi – which is derived from ‘Albrecht Discount’ for their roles as Private Brand visionaries they were inducted into the Private Brand Hall of Fame in 2009.

His death was announced by a representative of the company he owned, Aldi, which also owns the Trader Joe’s chain in the United States.

The stores are hallmarked by their no frills merchandising with products displayed on pallets, and no chic decorations or piped muzak.

Theo was born on March 28, 1922 – and for him and Karl, the retail trade was in their blood.

Their mother set up a small grocery shop in Essen after their father, a miner (and later a baker’s assistant), developed the lung condition emphysema. Determined not to follow their classmates into the mines and factories, Karl trained at a deli, while Theo learned the grocery business from their mother.

After being released from Allied prisoner-of-war camps following World War II, Theo and Karl Albrecht took over their parents’ small grocery in the Essen and, out of necessity, sold only a small number of essential items. When the economy began to boom, competitors added to their inventories, but the Albrecht brothers realized they could operate more efficiently by limiting selection and keeping stores small.

The brothers stuck to that business model as they steadily expanded throughout Germany and eventually Europe and overseas markets, including the United States.

Although Theo remained involved, like his brother, in the running of the company, a panel of other family members and representatives has helped manage Aldi in recent times.

Almost half of Americans (48%) say they are brown-bagging lunch, also slightly up from February when 45 percent said they were doing this. Two in five U.S. adults each say they have switched to refillable water bottles instead of purchasing bottles of water (39%) and are going to the hairdresser less often (38%). In February, one-third of Americans (34%) had switched to refillable water bottles to save money. In addition to brown-bagging it, one in five Americans (22%) have stopped purchasing coffee in the morning.

Americans are doing whatever it takes to cut back on spending. For some that means forgoing name brands for Private Brands, for others it means letting their hair get a little longer before having it cut. What happens in the future with these small changes will be worth watching. It could be that once these numbers start going in the other direction, the economy has turned the corner. Or, as some economists are saying, the “New Normal” culture of saving and cutting back will remain after the recovery.

This Harris Poll was conducted online within the United States between June 14 and 21, among 2,227 adults age 18 and over. For more information, visit www.harrisinteractive.com.

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Dubbed the R-Pant, the low-rise briefs and trunks are designed to be worn under skinny jeans. According to the retailer one in four UK men wear M&S pants.

The R-Pant launch is an obvious marketing ploy designed to appeal to a younger audience and to sex-up its Private Brand underwear.

Pattinson will not star in an advertising campaign for M&S. But a spokesman said the Twilight actor has been seen shopping for underwear at the store. The new Private Brand will go on sale in September.

Ms. Mattison previously reported to Chief Merchandising Officer John Fleming, who also resigned this month. The announcement of Mr. Fleming’s departure came just days after Walmart Chief Executive Eduardo Castro-Wright said he was leaving to care for his ill wife.