News

Bi-Lo/Bruno’s Appoints Senior VP Finance/Treasury

BY CSA STAFF

Mauldin, S.C., Bi-Lo/Bruno’s has named Ken Jones as senior VP of finance and treasury. Jones previously served as VP and treasurer for Denny’s Corp., where he directed corporate financial planning and investor relations, as well as the restaurant group’s centralized treasury organization.

Bi-Lo previously announced that Southern Family Markets Acquisition LLC, an affiliate of C&S, would purchase 104 Bi-Lo and Bruno’s stores over the next 11 months. In addition, Bi-Lo will seek to sell an additional nine stores and close three stores.

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News

Ahold CFO Out

BY CSA STAFF

Zaandam, Netherlands, Ahold announced that its CFO, Hannu Ryopponen, is leaving the company effective Sept. 1. The company said it would it would start the search for a replacement immediately.

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FINANCE

Sports Authority Income Up in 1Q

BY CSA STAFF

Englewood, Calif., The Sports Authority said its net income for the first quarter was $8 million, or 30? per share, compared with $4.2 million, or 16? per share, including merger integration costs of $5.2 million, in the prior year’s first quarter.

Total sales for the quarter increased 3.4% to $591.2 million from $572 million in the year-ago period. Same-store sales rose 1.8%.

“We were pleased with our top-line performance during the quarter, primarily driven by our strength in footwear, apparel and certain hard-goods categories,” said Doug Martin, CEO.

The company expects to open approximately 14 stores, relocate four stores and close six locations during the year.

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