Family Dollar names chief merchandising officer
Matthews, N.C. — Family Dollar Stores said Monday that it has named Paul White as executive VP, chief merchandising officer. He will report to Michael Bloom, president and COO.
White joined Family Dollar in 2011 as senior VP, apparel, home and seasonal. Before joining the company, he served as the past president, CEO, and director of Goody’s, where he refocused the merchandising and marketing strategies on the core customer while leading the company’s exit from bankruptcy.
BI-LO buys big with proposed Winn-Dixie merger
GREENVILLE, S.C. — BI-LO and Winn-Dixie Stores on Monday announced that the companies will merge to create an organization of approximately 690 grocery stores and 63,000 employees in eight states throughout the Southeastern United States.
Under the terms of the definitive agreement, BI-LO will acquire all of the outstanding shares of Winn-Dixie stock in the merger. Winn-Dixie shareholders will receive $9.50 in cash per share of Winn-Dixie common stock, representing a premium of approximately 75% over the closing price of Winn-Dixie common stock on Dec. 16.
“With no overlap in our markets, the combined company will have a perfect geographic fit that will create a stronger platform from which to provide our customers great products at a great value, while continuing to offer exceptional service," stated BI-LO chairman Randall Onstead. BI-LO and Winn-Dixie do not currently expect any store closures as a result of the combination, the companies noted. "BI-LO and Winn-Dixie are both strong regional brands with similar heritages.”
“This transaction with BI-LO provides Winn-Dixie shareholders with a significant cash premium for their shares. We believe this transaction is in the best interests of our shareholders,” commented Peter Lynch, chairman, CEO and president of Winn-Dixie. “By combining BI-LO and Winn-Dixie, we anticipate building a company that is stronger than our individual businesses and creating opportunities for continued advancement through the cross-pollination of our people and the sharing of ideas across our organizations, all to the benefit of our guests, suppliers, team members and the neighborhoods that Winn-Dixie serves.”
The transaction is currently expected to close in the next 60 to 120 days, subject to the approval of Winn-Dixie shareholders and other customary closing conditions, including expiration of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The transaction is not subject to any financing condition. Following the completion of the merger, Winn-Dixie will become a privately-held, wholly owned subsidiary of BI-LO and Winn-Dixie’s common stock will cease trading on the NASDAQ.
Until the merger is complete, both BI-LO and Winn-Dixie will continue to operate as separate companies.
Following completion of the merger, it is anticipated that the companies will continue to operate under the BI-LO and Winn-Dixie banners, the grocers stated.
The combined company’s executive management team structure and headquarters location will be decided as the companies move closer to finalizing the transaction; however, it is expected that the combined company will maintain a presence in both Greenville, S.C. and Jacksonville, Fla.
Family Dollar getting executive suite in place before new store, expanded assortment push
MATTHEWS, N.C. — Family Dollar Stores on Monday named Paul White to the position of EVP and chief merchandising officer. White will report to Mike Bloom, president and COO.
“Through Paul’s leadership and strategic vision, Family Dollar has created a compelling mix of discretionary merchandise, which has led to a more fun place to shop for our customers,” Bloom said. “Paul’s promotion will help us continue to broaden our appeal and deliver greater value to our customers.”
To augment an ambitious new-store growth and remodel commitment, Family Dollar is looking to increase comps sale performance through the broader assortment that White now will be helping to manage.
"Our objective is to drive traffic with an expanded selection of consumables, while also driving a larger basket with more impulse purchases and greater in-store excitement," Howard Levine, Family Dollar executive chairman and CEO, told analysts during a September conference call. "In fiscal 2012, we will continue to focus on driving greater trips with a strong focus on food and health-and-beauty aids," he added, "and look to drive baskets by being more seasonably relevant and emphasizing a more coordinated vision across discretionary categories."
Family Dollar is gearing for significant new-store growth in the coming years, targeting square footage growth of between 5% and 7% by fiscal 2012. "This year, we plan to open 450 to 500 new stores, including our first stores in California, which we expect to open before Christmas," Levine said during the September call.
White joined Family Dollar in 2011 as SVP apparel, home and seasonal. Before joining the company, he served as the past president, CEO and director of Goody’s, a privately held family apparel retailer, where he refocused the merchandising and marketing strategies on the core customer while leading that company’s exit from bankruptcy.
Other retail experience includes senior merchandising leadership roles at Shopko and The May Department Stores Co.