Bi-Lo in $265 million deal to buy Sweetbay, Harveys and Reid’s from Delhaize
Jacksonville, Fla. — Bi-Lo Holdings, parent company of the Bi-Lo and Winn-Dixie grocery store brands, has entered into an agreement to buy three chains from Belgium-based Delhaize Group. Bi-Lo said it would acquire substantially all of the stores in the Sweetbay, Harveys and Reid’s supermarket chains from Delhaize for $265 million in cash.
The deal, which is subject to regulatory approval, includes 72 Sweetbay stores, leases for 10 prior Sweetbay locations, 72 Harveys stores and 11 Reid’s stores, for a total of 165 stores and 10,000 employees throughout the Southeast. Bi-Lo Holdings already operates 686 stores.
"Sweetbay, Harveys and Reid’s are well-recognized and trusted businesses that share our passion for exceptional service," Bi-Lo Holdings president and CEO Randall Onstead said. "We look forward to welcoming the outstanding associates of all three chains to the Bi-Lo Winn-Dixie family."
The transaction is anticipated to close in fourth quarter 2013.
Chico’s disappoints as Q1 profit slips 4.7%
Fort Myers, Fla. – Chico’s reported a lower-than-expected profit of $51.1 million for the first quarter, excluding non-recurring acquisition and integration costs related to its Boston Proper acquisition, versus a profit of $54 million in year-ago period.
Sales rose 3% to $670.7 million, up 3% from $650.8 million last year. Chico’s, which operates its namesake stores, as well as the Soma Intimates and White House | Black Market chains, attributed much of this boost to the opening of 114 net new stores in the past year.
Same-store sales for the quarter were flat at 9.6%, reflecting an unusually cool spring and the impact of an almost 10% same-store sales increase in the same period last year.
Former PepsiCo exec lands feet first at Foot Locker
NEW YORK — Foot Locker has appointed former PepsiCo human resources executive Paulette Alviti as the company’s SVP and chief human resources officer.
Alviti has an extensive background in human resources, both domestically and internationally, with experience in organizational capability and training, talent acquisition and development, employee engagement and communications for the corporate office and field organization.
"We are very excited to have Paulette join us to lead this important component of our business," said chairman, president and CEO Ken C. Hicks. "Paulette has tremendous background and great energy that I’m confident will support us in strengthening our industry-leading retail team."
With more than 20 years of experience in human resources and employee management, Alviti will oversee the development and delivery of global human resources, serving more tan 38,000 Foot Locker employees worldwide. Her responsibilities include compensation and benefits, organization and executive development/succession planning, employee engagement, talent management, human resources management systems and corporate communications.
"I’m very excited to be joining Foot Locker, which is known for its dedication to superior customer service and valuing associates as our competitive strength," Alviti said. "I look forward to working with the human resources organization and Foot Locker’s leadership team to further develop our talent, diversity and culture to accelerate long-term growth."
Alviti joins Foot Locker from PepsiCo, where she has worked for 17 years, most recently serving as SVP and chief human resources officer at PepsiCo Asia, Middle East and Africa. She is a graduate of the University of Connecticut and holds an MBA from Pace University.
The specialty athletic retailer operates 3,321 stores in 23 countries in North America, Europe, Australia and New Zealand, which include Foot Locker, Footaction, Lady Foot Locker, Kids Foot Locker and Champs Sports retail stores, as well as its direct-to-customer channel.