Former Winn-Dixie exec takes helm of specialty grocer
The Fresh Market has ended its search for a new chief executive.
The grocer appointed Larry Appel as the company’s president and CEO, effective immediately. Appel brings nearly 30 years of experience in retail, legal and corporate strategy, and most recently served as CEO of Skeeter Snacks. From 2002 to 2012, he served at Winn-Dixie Stores in a variety of senior leadership roles including COO. Prior to that, he was senior VP of legal at The Home Depot.
In June 2017, Fresh Market CEO Richard Anicetti resigned after less than two years on the job. Brian Nicholson, CFO of Fresh Market, was appointed interim CEO. He will remain as CFO.
“Following an extensive search and review of both internal and external candidates, the Board believes that Larry is the best leader for The Fresh Market going forward," stated Andrew Jhawar, chairman, Fresh Market, and senior partner at Apollo Global Management, which acquired the grocer in April 2016. "We look forward to partnering with Larry and are confident in his ability to lead operationally and to execute strategies to ‘win’ with our customers."
Founded in 1982, The Fresh Market operates 176 stores in 24 states across the nation.
Beleaguered electronics retailer inches closer to reorganization
RadioShack is entering the latest chapter in its ongoing financial saga — but on a positive note.
On Thursday, RadioShack’s Chapter 11 bankruptcy plan cleared a preliminary court review. This decision enables the retailer to move forward with its strategy to reorganize, and save a small portion of the company, according to Dealerscope.
As originally reported by the Wall Street Journal, the reorganized company will be composed of online operations, a major network of independent dealers, and somewhere between “zero and 28” company-owned brick-and-mortar retail locations. Yet, this plan still hinges on the outcome of a lawsuit that RadioShack filed against Sprint back in June.
RadioShack filed for bankruptcy protection in March, its second filing in just over two years. To date, less than 30 company-owned stores remain in operation — down from more than 4,400 prior to its first bankruptcy filing in 2015.
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Target lowers ‘thousands’ of prices
The price wars among the nation’s leading retailers has taken a new turn just ahead of the critical holiday selling season.
On Friday, Target revealed in a blog post on its website that it had lowered prices on “thousands” of items, from cereal and paper towels to baby formula, razors, bath tissue and more. The discounter said the move would help end shoppers’ uncertainty over the timing of discounts on certain products, and make for “more consistent savings.”
In line with the price cuts, Target has eliminated more than two-thirds of its price and offer call-outs. But the chain emphasized it is not ditching promotions entirely. Instead, it wants to make sure it offers only its “most compelling sales — when it makes the most sense for our guests.”
“We want our guests to feel a sense of satisfaction every time they shop at Target,” Mark Tritton, Target’s executive VP and chief merchandising officer said in the blog. “Part of that is removing the guesswork to ensure they feel confident they’re getting a great, low price every day. We’ve spent months looking at our entire assortment, with a focus on offering the right price every day and simplifying our marketing to make great, low prices easy to spot, all while maintaining sales we know are meaningful to guests.”
In its post, Target did not specify the percentage of the price cuts.