FINANCE

Giant Food Promotes Finance VPs

BY CSA STAFF

Carlisle, Pa. Giant Food Stores and Ahold Financial Services announced that Kris Murphy has been promoted to VP of process performance and internal controls for U.S. retail, and Wade Bucher has been appointed VP of audit for U.S. retail.

Murphy has been responsible for process performance and internal controls within Giant-Carlisle and Ahold Financial Services. Now, as a result of consolidation, she will be responsible for all Ahold USA internal control activities, including those at Stop & Shop and Giant-Landover.

Bucher is currently the senior director of internal audit for Giant-Carlisle and Ahold Financial Services.

In his new position as VP of audit for U.S. retail, he will lead efforts in the further integration of the Ahold USA Internal Audit Team, the coordination with other governance, risk management, compliance and internal control functions within U.S. retail, and the coordination of audit activities.

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Pep Boys posts 4Q sales loss

BY CSA STAFF

PHILADELPHIA The Pep Boys announced that sales for the fourth quarter ended Feb. 2 were $517.6 million, as compared to the $578 million recorded for the fourth quarter ended February 3, 2007. Excluding the 14th week of fourth quarter 2006, comparable-merchandise sales decreased 4.4% and comparable-service revenue decreased 1%.

The company reported a fourth quarter net loss of $18.5 million, or 36 cents per share – basic and diluted, from net earning of $7.9 million, or 15 cents per share – basic and diluted, for the same period last year. According to Pep Boys, the net loss included $8.5 million of margin reductions related to the exiting of non-core merchandise, $6.2 million in store closure costs and $6 million in debt pre-payment costs.

Sales for the fiscal year ended Feb. 2 were $2.14 billion as compared to the $2.24 billion recorded last year. Excluding the 53rd week of 2006, comparable-merchandise sales decreased 4.2% and comparable-service revenue increased 1.8%.

Net loss increased from $7.07 million, or 13 cents per share – basic and diluted, to  $37.4 million, or 72 cents per share – basic and diluted. 

President and ceo Jeff Rachor commented, “While the difficult economic backdrop created sales challenges during the fourth quarter, we are pleased to confirm that our progress to date leaves us well positioned to complete this first important step in our strategic plan by the beginning of the second quarter of this year.

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ALDI launches ‘smart’ ad campaign

BY CSA STAFF

NEW YORK ALDI has launched a new television campaign in the United States.

The four commercials center on the themes of “musical,” “soccer mom,” “extended family” and “dinner party.” Each one presents a different scenario, i.e. shopping for a big family, or putting together the perfect dinner party, and ties into the ALDI motto of “shopping smart.”

The commercials can be viewed on ALDI’s Web site.

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