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Drug Store Executive Shakeup

BY CSA STAFF

Walnut Creek, Calif., Longs Drug Stores Corp. announced today that COO Richard Dreiling has taken a position with another company, and that president, chairman and CEO Warren Bryant will assume the COO position until a successor is found.

Dreiling’s new position is that of president and CEO of New York City-based drug store chain Duane Reade, replacing Anthony Cuti.

Cuti had also been chairman of Duane Reade, but details of that position have not yet been released.

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Mary Beth Stone Joins J.C. Penney Board

BY CSA STAFF

Plano, Texas, Effective today, Kraft Foods marketing executive Mary Beth Stone has obtained a seat on the J.C. Penney board of directors. Stone is group VP and president of Kraft’s North America Grocery division.

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S.Gacho says:
Mar-12-2013 02:27 pm

When you think of marketing strategies all of them may differ according to the business that you want to pursue. It will then be classified based on the economy and consumers. - Scott Sohr

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Pennsylvania Mall Under New Ownership

BY CSA STAFF

Philadelphia, Pennsylvania Real Estate Investment Trust and Simon Property Group completed the previously announced acquisition of Springfield Mall in Springfield, Pa., for approximately $103.5 million. PREIT and an affiliate of Kravco Simon Investments, L.P., each have a 50% ownership interest in the property. Springfield Mall is a 590,000-sq.-ft. regional mall located approximately 10 miles southwest of Philadelphia. The mall is currently anchored by Macy’s and Strawbridge’s and has more than 70 in-line tenants, including Ann Taylor Loft, Build-A-Bear, Carrabba’s, Charlotte Russe, Gap/Gap Kids, Ruby Tuesday and Yankee Candle. Macy’s and Strawbridge’s own their own buildings and associated parking.

Federated Department Stores, Inc. has announced that it plans to close the Strawbridge’s store in this mall.

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