Demoulas names co-CEOs
Tewksbury, Mass. – Following the dismissal of former president and CEO Arthur T. Demoulas, the board of directors of Demoulas Super Markets Inc. has elected retail executives Felicia Thornton as COO and Jim Gooch as chief administrative officer, and the two will serve as co-CEOs. Both Thornton and Gooch had recently been serving as consultants to the company.
Thornton’s past experience includes serving as CFO of Albertsons and group VP and member of the executive team at Kroger. Gooch has previously served as president and CEO of RadioShack Corp., and has also held financial positions at Kmart and Sears Holding Corp.
Arthur T. Demoulas, who was not re-elected president and will not retain any management responsibilities moving forward, remains a shareholder of the company.
In addition, the board re-elected Don Mulligan as VP, CFO and treasurer, and Jim Miamis as VP of Market Basket. Joseph Rockwell was not re-elected VP and is no longer with the company. William Marsden, former director of operations, is no longer with the company.
Report: Gap applications surge on higher wage
San Francisco – Gap Inc. has reportedly experienced a 10% increase in job applications since its February announcement that it would raise its minimum wage for employees to $10 per hour by 2015. According to Bloomberg, the increase has occurred across all Gap brands, including Banana Republic and Athletica, but has been most pronounced at Old Navy, where applications had previously been declining.
Gap’s minimum wage will rise to $9 an hour in 2014 and then to $10 an hour in 2015, eventually affecting 65,000 store-level associates. Gap executives have said the higher wage has given them access to a broader and better qualified pool of applicants.
Sam’s Club launches online travel service
Bentonville, Ark. – Sam’s Club is launching Sam’s Club Travel, a savings-centered online booking service for business and leisure travel needs of Sam’s Club members. The new digital service is a collaboration with wholesale travel services provider Tourico Holidays.
Scaling Tourico’s proprietary technology to its warehouse club members, Sam’s Club Travel offers savings on a la carte purchases and vacation packages across the globe. The portal includes integrated TripAdvisor reviews, real-time price comparisons to leading competitors, “Click to Chat” instant member service and secure booking.