Borders Opens Second Stand-Alone Paperchase Store
Ann Arbor, Mich. Borders Group announced it will open a stand-alone Paperchase shop on May 2 in Glendale, Calif., at The Americana at Brand shopping center.
Since its acquisition in 2004 of the London-based Paperchase Products, a stationary retailer with more than 100 stores in the U.K., Borders has added Paperchase shops inside more than 320 Borders bookstores.
The Glendale store is the company’s second stand-alone location in the United States.
The new 1,925-sq.-ft. store will carry the company’s signature collection of greeting cards, stationery, gifts and seasonal merchandise. The first domestic stand-alone Paperchase shop opened October 24, 2007, on Newbury Street in Boston and is slightly smaller at 1,525 sq. ft. When the Boston store opened, Borders released a statement that it expected to open between five and eight stand-alone Paperchase shops in 2008.
Sam’s Club limits rice sales
BENTONVILLE, Ark. According to reports, Sam’s Club is limiting its sale of Jasmine, Basmati and Long Grain White rices to four bags per member visit.
The limits are due to supply and demand trends and Sam’s Club is reportedly working to ensure that it has enough of the aforementioned rice products in stock.
Pep Boys names Odell interim ceo
PHILADELPHIA The Pep Boys – Manny, Moe & Jack has named Mike Odell, Pep Boys’ coo, as interim ceo, effective immediately. The move was made after Jeff Rachor resigned to become a principal in an automotive dealership venture. Pep Boys also announced that Ray Arthur was named evp – cfo, and is scheduled to begin on April 28.
Odell joined Pep Boys in September 2007 as evp and coo after spending 13 years at Sears Holdings. His last position at Sears was as evp and general manager of Sears Retail & Specialty Stores, a $26 billion business with 1,900 locations. Mike initially joined Sears’ finance department in 1994 where he worked until moving over to its operations team in 1998. There, he served in various positions of increasing responsibility, including vp of stores, finance, and operations of Sears Automotive Group.
“The entire board is highly confident in Mike’s ability to step seamlessly into the role of interim ceo,” said chairman of the board Bill Leonard. “Mike was instrumental in helping to develop the company’s long-term strategic plan and the board is pleased with the progress the company has made in executing its initial steps. Mike’s leadership in driving Pep Boys’ strategic initiatives and our ongoing return to operational excellence makes him the obvious choice for this position. He is a serious candidate for the permanent chief executive position and the company has no plans to conduct a search at this time. The board would also like to thank Jeff for his service to Pep Boys and for his assistance during this executive transition.”