Giant Denies Store Closing Reports
Landover, Md., Contrary to recent reports, Giant Food says it has no plans to shutter or rename stores. Rather, according to the president and CEO Marc Smith, the chain will renovate 18 Giant stores over the next two years, causing temporary closure while each of the 18 is renovated. “We have no current plans to permanently close any Giant store operations in any market areas, nor do we plan to convert Giant stores to the Stop & Shop trade name,” said Smith.
Reports of store closures circulated when parent company Ahold shut down four Super G stores in southern New Jersey and converted the remaining area Super G locations to Stop & Shop stores. The company said that was to provide “increased synergies with Stop & Shop’s existing operations in New Jersey.”
TJX President Resigns
Framingham, Mass., Edmond (Ted) English announced his resignation Tuesday as president and CEO of TJX Cos., effective immediately. English, who has been with TJX for 23 years, has served as CEO since 2000. Bernard Cammarata, the chairman and former CEO of TJX, was named acting president. English will advise the company while it searches for a permanent replacement.
“While sales and segment profit at Marmaxx, our largest business, have experienced strong growth, our other businesses have not met expectations over the past year, despite actions taken to improve their performance,” English said in a statement. “These businesses would benefit from a fresh perspective at the top.”
Safeway Partners With EPA to Buy “Green” Energy
Pleasanton, Calif., Safeway announced it will purchase renewable energy to power its 270 fuel stations, 15 stores in San Francisco and corporate campuses in Pleasanton and Walnut Creek, Calif. The deal, arranged through with the Environmental Protection Agency, makes Safeway one of the largest buyers of green energy in the United States. The supermarket retailer has agreed to purchase 78 million kilowatt hours of electricity generated from wind energy.