Alexander Babbage Acquires Stillerman Jones
Atlanta, International market research company Alexander Babbage Inc. announced that it has acquired Stillerman Jones & Co., the oldest marketing research company in the shopping center industry. The transaction, which closed May 8, is the result of year-long discussions between the two privately held businesses, said Alan McKeon, president of Atlanta-based Alexander Babbage. Stillerman Jones has been absorbed into the shopping center division of Alexander Babbage, effective immediately.
As a result of the acquisition, certain redundant office functions will be eliminated, and Stillerman Jones’ Indianapolis office will be closed. Stillerman Jones’ research staff will be given the choice of relocating to Alexander Babbage’s Atlanta headquarters, or telecommuting through high-speed networks.
Supermarket Industry Soaring
Chicago, According to a state-of-the-industry report released Monday by the Food Marketing Institute (FMI), the supermarket industry increased sales overall by 5.3% in 2006, and upped same-store sales 4.0%.
Although the national chains reported a banner year in terms of sales and profit growth in 2006, other retailers didn’t fare as well. According to the report, nearly 25% of food retailers saw same-store sales decreases.
Issues raising concerns among all groups include, according to FMI, healthcare costs, competition from other retailers, credit-/debit-card interchange costs, energy costs, staffing, hiring and retention, technology investments and food-safety scares.
Family Dollar Chief Gets $2.19 Million
Matthews, N.C., According to Family Dollar Stores’ proxy statement released on Tuesday, CEO Howard Levine received $2.19 million in total compensation for 2006.
Levine’s salary was $728,585. His stock awards totaled $499,842, and his bonuses accounted for $857,537. He also received $99,360 in other compensation.
The $2.19 million does not include nearly $1 million in option awards.