Aeropostale’s co-CEO Mindy Meads to leave company
New York City — Aeropostale announced that, effective immediately, Thomas P. Johnson, co-CEO, has been named CEO. Mindy C. Meads, who has served as co-CEO along with Johnson since February 2010, will leave the company to pursue other interests. She will stay for a short period to ensure a smooth transition.
Julian R. Geiger, chairman, said: "Mindy has made significant contributions to Aeropostale during her tenure with the company. She has helped build a team with considerable depth that has enabled the organization to drive brand recognition and loyalty."
In conjunction with Meads’ departure, Johnson will assume full responsibility for all areas of the business. Michael J. Cunningham will continue to serve as president and CFO.
Additionally, Geiger, will expand his role of advisor to the Aeropostale, to work closely with the management team primarily in the areas of merchandising and design.
Jo-Ann profit up in Q3, to accelerate openings and remodels in fiscal 2012
Hudson, Ohio — Jo-Ann Stores reported net income for its fiscal 2011 third quarter ended Oct. 30, of $29.1 million, up from $24.1 million in the year ago period. The retailer also raised its full-year outlook.
Net sales for the third quarter increased 5.1% to $535.3 million, from $509.1 million last year. Same-store sales increased 4.1%.
Chairman and CEO Darrell Webb said the chain was encouraged by the results in its new and remodeled stores, and was increasing its plan for both new store openings and remodel projects in fiscal 2012.
For fiscal 2011, the company expects to open 30 new stores and close approximately 25 stores.
Net sales for the third quarter increased 5.1% to $535.3 million, from $509.1 million for the same period last year. Same-store sales increased 4.1%, compared with a 4.3% same-store sales increase for the third quarter last year.
Stater Bros. honored for recycling efforts
San Bernardino, Calif. — Stater Bros. has been recognized as a 2010 WRAP (Waste Reduction Awards Program) Winner by the California Department of Resources Recycling and Recovery (CalRecycle). Among the supermarket operator’s accomplishments: a “green waste” composting program that turns organic waste from its 167 locations into compost that is sold to area farmers
In total, Stater Bros. eliminated 141,489,966 lbs. of waste from landfills in 2009. The new composting program, removed over 27 million lbs. of waste from landfills in its eight months of operation in 2009. Other notable green programs include recycling cardboard (over 74 million lbs. in 2009), recycling sustainable rendering products (over 8.5 million lbs. in 2009), donating food to local food banks (over 3.8 million lbs. in 2009), and recycling plastic bags (over 2.8 million lbs. in 2009).
In addition, Stater’s weekly ad is printed on recycled paper, and the grocer participates in California’s Voluntary Demand Response Program to reduce energy consumption at store level when demand is high.
The CalRecycle Waste Reduction Awards Program (WRAP) has been recognizing the environmentally friendly business strategies of California businesses since 1993.