FINANCE

Cardtronics named exclusive ATM services provider for Tedeschi Food Shops

BY Staff Writer

Houston – Cardtronics, Inc. has expanded its relationship with Tedeschi Food Shops, a Rockland, Mass.-based convenience store company. The broadened agreement names Cardtronics the exclusive ATM services provider for Tedeschi Food Shops. Cardtronics is the world’s largest retail ATM owner.

This agreement builds on a nine-year relationship between Cardtronics and Tedeschi Food Shops, during which Cardtronics has provided ATM processing services for the convenience store chain. With this relationship expansion, Cardtronics will provide a complete equipment refresh, replacing ATMs operated by Tedeschi Food Shops and one other bank vendor with machines owned and operated by Cardtronics, as well as add 56 new locations – for a total of 186 brandable ATMs.

Cardtronics’ portfolio of ATMs at Tedeschi Food Shops is immediately available to banks and credit unions interested in elevating brand awareness and surcharge-free account access through Cardtronics’ ATM branding programs.

Cardtronics is North America’s market leader in ATM branding for financial institutions and prepaid card programs seeking to extend their brands, as well as convenient and fee-free cash access for their cardholders. Across its Principal and Preferred Branding programs, card issuers have cumulatively branded a total of more than 20,000 Cardtronics-owned ATMs.

Bob Tedeschi, executive vice president and treasurer, Tedeschi Food Shops, said:
“We’ve elected to expand our relationship with Cardtronics and name them our exclusive ATM partner as a cost-effective way for us to manage the daily activity of our ATMs, as well as the cost of keeping a fleet up-to-date with compliance and other technology upgrades. Building on the long-term relationship we’ve enjoyed with Cardtronics is a smart way to provide a great experience for our customers and capitalize on marketing capabilities we did not previously possess.”

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REAL ESTATE

Ahold acquires supermarket business in Czech Republic

BY Antoinette Alexander

ZAANDAM, the Netherlands — Ahold has entered into an agreement to acquire Spar’s business in the Czech Republic. The acquisition includes 50 stores of which 36 are compact hypers and 14 are supermarkets.

The acquisition, which has and enterprise value of CZK 5,245 million, will be funded from existing cash resources and is subject to merger clearance.

This acquisition is in line with Ahold’s strategy to expand its geographic reach in both current and adjacent markets, and focus on leading market positions. Ahold has had a presence in the Czech Republic since 1991 and has developed the business under the Albert brand name.

"Our Czech Republic Albert’s business has continued to successfully improve the performance of its business during recent years. The acquisition of Spar’s business in the Czech Republic is an important strategic step and marks an exciting new phase for Ahold in the Czech Republic. It allows us to combine two companies that have a natural fit and that share a continuous focus on quality and value, and becoming a better place to shop for our customers. It will provide our large base of local suppliers access to an even bigger market, and I look forward to welcoming the associates to our company,” stated Dick Boer, CEO of Ahold.

Ahold currently operates 284 Albert supermarkets and compact hypers in the Czech Republic. Following the acquisition of Spar, the company will have more than 330 stores.

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REAL ESTATE

Ross Stores to open 96 stores in 2014

BY Staff Writer

New York — Ross Stores continues to expand in 2014. The off-price retailer has already opened 30 Ross Dress for Less and seven dd’s Discounts stores in 14 different states, and there’s more to come.

"We remain on track to open a total of approximately 95 new locations in 2014, comprised of about 75 Ross Dress for Less and 20 dd’s Discounts," said Jim Fassio, president and chief development officer. "Today, Ross Dress for Less is the largest off-price apparel and home fashion chain in the U.S.”

The retailer is looking to build presence in existing markets and grow in newer markets where it first entered in 2011.

Including the latest openings, Ross now operates 1,173 stores in 33 states, the District of Columbia, and Guam. Long term Ross believes it can reach 2,000 locations. The planned expansion of dd’s Discounts in 2014 also marks the fourth consecutive year of double-digit percentage unit growth, and the company anticipates that dd’s can become a 500-store chain over time.

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