Food Lion expands brand strategy
Salisbury, N.C. — Food Lion on Wednesday expanded its new brand strategy to 269 stores in North Carolina and South Carolina. With the expansion, Food Lion has more than 700 locations operating under rebranding, representing more than 60% of its store base.
The new strategy offers customers lower prices on 6,000 items, a greater emphasis on private brands, enhanced produce and an easy and convenient shopping experience, such as faster checkout. To support its new strategy, the company created approximately 800 new jobs.
“We are very pleased with the reaction from our customers since we introduced our new brand strategy,” Cathy Green Burns, president of Food Lion, said in a statement. “During the past year, we have continued to refine the strategy based on additional customer feedback and have made new enhancements for our customers. We look forward to winning new customers and continuing to serve our existing customers with enhanced Food Lion stores in our home markets.”
Deloitte Consumer Spending Index posts fourth monthly gain
New York — The Deloitte Consumer Spending Index (Index) posted its fourth consecutive increase in June, rising to 3.22 from a reading of 3.09 the previous month. The Index, which tracks consumer cash flow as an indicator of future consumer spending, is comprised of four components: tax burden, initial unemployment claims, real wages and real home prices.
“The housing market is showing signs of recovering, while energy prices continue to decrease, giving a boost to consumer buying power,” explained Carl Steidtmann, Deloitte’s chief economist and author of the monthly Index. “Although consumers are financially stronger, the job market continues to affect their willingness to spend. Additionally, the oppressively hot weather impacting a large part of the country may stifle consumers’ desire to shop.”
Deloitte’s analysis of factors influencing consumer spending indicate:
Gasoline prices are down 20 cents in the past month but are down just 14 cents from a year ago. Unseasonably hot weather across much of the country could be offsetting some of the benefit of this price reduction.
The labor market remains very fragile, despite this month’s small decline in jobless claims. Consumer confidence has fallen sharply over the past two months due largely to the renewed weakness in job growth.
Home prices are stabilizing and even turning up in some markets. Record low interest rates are giving a small boost to demand and helping to increase refinancing activity. Most refinances are being done for a lower payment as there is little equity to be cashed out.
Tax rates are likely heading higher next year.
“Retailers can capitalize on changing consumer behavior, such as embracing shoppers’ use of mobile technology in the store," said Alison Paul, vice chairman, Deloitte LLP and retail & distribution sector leader. “Deloitte’s research into smartphones’ influence on retail store sales revealed that smartphone shoppers are 14% more likely to convert in the store. Retailers should provide – not shy away from – mobile applications to capture consumers’ attention throughout the back-to-school season, particularly as smartphone use for shopping skews to younger consumers.”
Fujifilm names new U.S. executives
VALHALLA, N.Y. — Fujifilm Holdings America Corporation announced that, effective June 28, Kaz Yamamura has been named as the new president of Fujifilm Holdings America Corporation; and Go Miyazaki has been promoted to president and COO of Fujifilm North America Corporation.
In his new role, Yamamura will also serve as the new chairman and CEO of Fujifilm North America Corp., overseeing management of eleven Fujifilm companies that operate in the United States. He is also a member of the board of directors and corporate VP Fujifilm Corp.
As president and COO of Fujifilm North America Corp., Miyazaki will be responsible for management of the company’s photo imaging, electronic imaging, graphic systems, optical devices and motion picture business, as well as operations for Fujifilm in Canada. Prior to this, Miyazaki was division president imaging and electronic imaging divisions for Fujifilm North America Corp.
“Fujifilm is a global brand and business leader known for its commitment to innovation and excellence, and I am honored to serve in this new role,” said Kaz Yamamura, president, FUJIFILM Holdings America Corporation and chairman and chief executive officer, FUJIFILM North America Corporation. “As Fujifilm continues to diversify its businesses in North America, we remain dedicated to our strong business relationships, and to delivering the highest quality goods and services to our consumers and customers.”
Prior to his newly announced position, Mr. Yamamura served for more than 36 years at Fujifilm, and most recently in several key management positions, including his work as Corporate Vice President and General Manager, Finance and Accounting Division, and General Manager, Business Strategy Department, Corporate Planning Division, for FUJIFILM Holdings Corporation in Japan. He also served as Chief Financial Officer for FUJIFILM Europe GmbH. He earned his Bachelor of Economics degree from Kobe University, Tokyo, Japan in 1976.