K-VA-T Food Stores partners with Revionics for price optimization
Roseville, Calif. — Retail life cycle price optimization solution-provider Revionics said it has partnered with K-VA-T Food Stores for a price optimization solution.
K-VA-T will deploy Revionics Price Optimization and Revionics Promotion Optimization, which includes Revionics’ category planning tools, weekly price maintenance capabilities and optimized prices across all pricing zones, each week.
K-VA-T Food Stores, Inc., based in Abingdon, Va., operates 104 stores under two separate banners, Food City and Super Dollar. The chain will leverage Revionics Analytic Services to provide insight into how their customers shop at their various stores and what prices and promotions their customers prefer. The insight provided into market patterns and consumer preferences will help K-VA-T make better, fact-based decisions.
Revionics will provide K-VA-T Food Stores with the ability to manage rules-based pricing as well as leverage consumer demand modeling to optimize their base prices and the value they offer their customers.
"Our primary goal in pricing is to offer our customers the most value for their grocery dollar,” said Richard Gunn, executive VP of merchandising and marketing, K-VA-T Food Stores.
Shopko focuses on rural consumers with new merger
GREEN BAY, Wis. — Shopko Stores Operating Co. said Wednesday that Shopko and Pamida will merge to create one of the largest U.S. retailers focused on serving smaller and rural communities. The combined entity will have nearly 350 locations in 22 states and plans to accelerate new store growth in the second half of 2012 and beyond.
Financial details of the merger, expected to close in mid-February, were not disclosed. Both companies are owned by affilates of the private equity firm Sun Capital Partners.
The combined company will be based in Shopko’s home base of Green Bay, Wis., and will use the Shopko name. It will be led by Shopko president, chairman and CEO W. Paul Jones. Pamida president and CEO John Harlow will serve on the leadership team and help direct the integration process.
There will be no change to Shopko’s stores, and approximately $80 million will be invested over the next 12 months in the conversion of most of Pamida’s locations to the Shopko Hometown store concept and brand. Developed over the past three years, the Hometown format combines pharmacy services with general merchandise categories ranging from apparel to toys to electronics in s smaller-sized footprint that ranges from 15,000 to 35,000 sq. ft.
"Merging Pamida and Shopko is a great move for our businesses and our customers given our complementary strengths, store networks and consumer-centric retail models," said Jones. "The Shopko Hometown store format, featuring our unique merchandising strategy and improved store design, is an ideal fit for the smaller communities that Pamida serves with its exceptional service and community-minded approach. We intend to be the leader in this category by combining the best of Shopko and Pamida in our aggressive new store growth plans."
With annual revenues of $2 billion, Shopko operates 149 stores in 13 states located throughout the Midwest, Mountain and Pacific Northwest regions. Omaha, Neb.-based Pamida operates 193 stores in 17 states, primarily in the Mountain, North Central and Midwest regions, and has revenues of approximately $1 billion.
Walmart vet joins healthcare company
DALLAS — The first CEO of Sam’s Club, Ronald Loveless, has been named vice chairman of U.S. Preventive Medicine. Loveless will serve alongside vice chairman Ron Loeppke, who joined the company in 2008 to direct product innovation, research and clinical standards at the company.
Loveless will play a key role in guiding the growth of U.S. Preventive Medicine in the United States, as well as international markets, the company stated.
"Ron’s expertise in helping to build what became the world’s largest company will be instrumental in guiding U.S. Preventive Medicine through the high growth phase of our company in the coming years," stated Christopher Fey, chairman and CEO. "His professional approach, contacts and merchandising knowledge will help lead our company to unparalleled opportunities across the [United States] and internationally."
Loveless was recognized as a key executive in the growth of Walmart by the company’s founder Sam Walton in his biography, "Made in America." Since his retirement from Walmart, Loveless has served as a consultant to retail and consumer products ventures in the United States, Canada and Middle East, and special projects with Walmart. Additionally, he has served on numerous advisory boards for startup entities. Loveless recently released a memoir of his career at Walmart, titled "Walmart Inside Out."
U.S. Preventive Medicine has developed a suite of prevention, early detection and chronic condition management products and services that improve health outcomes while reducing healthcare costs. The company is partnering with regional healthcare providers on expanding its program, namely its Prevention Plan, a program that enables individuals to determine their top health risks and receive a customized plan and coaching from nurses to lower those risks and become healthier.