A&P CEO exits as Q2 loss widens
Great Atlantic & Pacific Tea Co. said Tuesday that its president and CEO Eric Claus will resign effective immediately.
While the company seeks a successor, chairman Christian Haub will reassume the CEO role, a position he held from 1998 to 2005
Claus’s departure comes as the company reported a wider loss in its fiscal second quarter, hampered by increased unemployment and tougher price competition.
The grocer lost $80.3 million in the 2Q ended September 12, compared with a loss of $18.1 million in the year-ago period. Sales fell to $2.1 billion from $2.2 billion. Analysts were expecting sales of $2.12 billion.
Comp-store sales fell 3.8%.
According to Haub, “The current challenging economy continues to impact our business. The macro headwinds including rising unemployment, intensifying price competition and now also deflation are creating an even more difficult short-term economic environment.”
Haub added, “I would like to thank Eric Claus for his contributions to our company during his tenure at A&P and wish him well in his future endeavors.”
The company operates 432 stores in eight states and the District of Columbia under the trade names A&P, Waldbaum’s, Pathmark, Pathmark Sav-a-Center, Best Cellars, The Food Emporium, Super Foodmart, Super Fresh and Food Basics
Walgreens, aVinci Media’s fight against breast cancer
DRAPER, Utah. Walgreens and aVinci Media have launched a national initiative to raise vital funds and awareness for breast cancer research and support.
On Oct. 7, Walgreens offered aVinci’s My Personal Movie slideshow DVDs, retail price $19.99, for $1. aVinci Media and Walgreens extended this offer to Oct. 8. 100% of the purchase price of this item was donated to the Susan G. Komen for the Cure and Breast Cancer Network of Strength and their missions in the fight against breast cancer. Over two days, more than $50,000 was raised for these organizations.
Chett Paulsen, CEO, aVinci Media, commented, “Each of us in someway has been personally impacted by breast cancer and our hope is that this donation-and more importantly the stories people tell-inspire, teach and provide hope for others to fight this widespread disease.”
Walgreens divisional merchandise manager Mona Kelly noted, “This initiative is one way we give back to our valued customers and provide the much needed support for this important cause.”
Fujitsu Computer Products of America names new CEO
SUNNYVALE, Calif. Fujitsu Computer Products of America announced the appointment of Etsuro Sato as president and CEO, and named Victor Kan EVP and COO.
Effective immediately, Sato will lead Fujitsu Computer Products of America forward in its next phase of development.
“Fujitsu has always been committed to creating success for our customers and partners and that has been evident in our proud history of innovation in the industry,” said Sato. “I am excited to lead Fujitsu Computer Products of America forward at a time when there are tremendous opportunities and technology advancements in the document imaging industry.”
Sato brings more than 30 years of experience to his new leadership position at Fujitsu Computer Products of America. Sato joined Fujitsu as VP Imaging Products Group, where he directed the management of the scanner and service lines for the United States and Latin America, which includes the sales, marketing, engineering and customer support departments. Previously, Sato was director of business development marketing, system products group, Fujitsu Computer Systems, where he was responsible for business planning and operation strategies.