Borders Picks Three Board Members
Ann Arbor, Mich., Borders Group Inc. has elected three new members to its board of directors, effective Aug. 1: Donald G. Campbell, senior executive VP and chief administrative and business development officer of The TJX Cos.; Brian T. Light, executive VP of business delivery for Staples Inc.; and Michael Weiss, the retired president and CEO of Limited Brands subsidiary Express.
Wal-Mart Abandons Singles-Shopping Program
Bentonville, Ark., Though successful in its German stores, Wal-Mart has put an end to its Singles Shopping in the United States.
Active in just one store in Roanoke, Va., the Singles Shopping program had Friday-evening unattached customers adorning their shopping carts with a red bow to signal availability. “Flirt points” were set up in various sections of the store.
Complaints led to the dissolution of the program.
A&P Reports $89 Million Loss
Montvale, N.J., A&P reported a net loss of $89 million for the first quarter of the fiscal year ending June 18. Sales for the first quarter were $3.4 billion, a 3.1% increase. The loss includes $68 million worth of charges.
Christian Haub, CEO of A&P, said the company plans to complete the sale of its Canadian stores in the second quarter. He said A&P will use the proceeds of the sale to counter the loss and remodel stores. According to Haub, A&P is getting good returns on full-scale remodels of stores, which cost $1.5 million each, so the company plans to do more remodeling.