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Fresh & Easy to Recycle Holiday Cards

BY CSA STAFF

El Segundo, Calif.

Fresh & Easy Neighborhood Market said Wednesday that it established a program that will enable customers to recycle holiday cards at each store location. Proceeds from the sale of recycled cards will go to American Forests (www.americanforests.org), a non-profit organization that focuses on planting trees in restoration areas throughout the country.

The recycling program began on Dec. 18 and will continue through the end of Jan. 2008. For every dollar the chain donates to the non-profit organization, American Forests will plant a tree.

“We want to make it easier for customers to make more environmentally friendly decisions,” said Tim Mason, CEO, Fresh & Easy. “If everyone in the neighborhood brings their holiday cards back to our stores to be recycled, we can make a big difference.”

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Circuit City quarterly loss widens

BY CSA STAFF

RICHMOND, Va. Circuit City’s financial troubles continue, as the company today reported a wider net loss and a sales decrease for the third quarter.

The company reported that net loss from continuing operations for the quarter totaled $208 million, or $1.26 per share, compared to a net loss of $19.9 million, or 12 cents per share, for the third quarter of fiscal 2007.

For the third quarter, the company reported that net sales decreased 3.1% to $2.96 billion from $3.06 billion in the same period last year, with consolidated comparable-store sales decreasing 5.6%. Comparable-store sales increased 5.2% for the third quarter 2006.

“We are very dissatisfied with our third quarter results,” said Philip Schoonover, chairman, president and ceo of Circuit City Stores. “We underestimated the financial impact from the disruption of our transformation work, which contributed to lower close rates, reduced attachments of higher margin accessories and firedog services and lower extended warranty net sales as compared with the prior year. As a result, we are reporting lower sales and higher net losses in the quarter than last year’s third quarter.

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Best Buy names human capital evp

BY CSA STAFF

MINNEAPOLIS Best Buy Thursday announced that John Pershing has been named evp of human capital for the corporation.

Pershing will be in charge of recruiting, training, employee relations and employee development for about 140,000 employees at Best Buys operations around the world. The companys legal department also will report to him. He will report to Brad Anderson, Best Buys vice chairman and ceo. His appointment was effective Dec. 11.

John is an engaging and energetic leader who brings a valued combination of field experience and human resources experience to his new role, said Anderson. He is a champion of the unique culture that we have built at Best Buy. John understands how the ecosystems in which our employees work must be continually adapted so that we create relevant experiences for our customers and build great relationships with them. 

Pershing joined Best Buy in 1989 as a retail manager and steadily advanced to positions of increasing responsibility. In 1999, Pershing was named divisional manager, responsible for loss prevention. He was promoted to vp of retail operations for Musicland, a former Best Buy company, in 2002. In 2005, Pershing took on a new assignment as vp of organizational alignment and the corporate transformation efforts necessary to roll out the companys customer-centric business strategy.

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