Abercrombie Hit With Suit
Columbus, Ohio, Abercrombie & Fitch was named as defendant in a shareholder lawsuit filed in Columbus, Ohio, that seeks class-action status. The suit alleges that the chain and certain executives provided misinformation about the company’s financial statements. Also named as defendants were Michael Jeffries, chairman and CEO, and Robert Singer, president and COO.
Food Retailers Seek Support To Serve Returning Families, Displaced Employees
Washington, D.C., Hundreds of supermarkets recovering from Hurricane Katrina need immediate help to prepare their stores for the return of families who evacuated their communicates the Food Marketing Institute (FMI) said yesterday, responding to requests from Congress and the Department of Homeland Security for disaster relief recommendations.
FMI provided Congress a list of industry needs. The most important immediate requests include:
Giant Denies Store Closing Reports
Landover, Md., Contrary to recent reports, Giant Food says it has no plans to shutter or rename stores. Rather, according to the president and CEO Marc Smith, the chain will renovate 18 Giant stores over the next two years, causing temporary closure while each of the 18 is renovated. “We have no current plans to permanently close any Giant store operations in any market areas, nor do we plan to convert Giant stores to the Stop & Shop trade name,” said Smith.
Reports of store closures circulated when parent company Ahold shut down four Super G stores in southern New Jersey and converted the remaining area Super G locations to Stop & Shop stores. The company said that was to provide “increased synergies with Stop & Shop’s existing operations in New Jersey.”