Lederer joins Duane Reade as ceo
NEW YORK Duane Reade Holdings has named John Lederer chairman of the board and ceo. From 2001 to 2006, Lederer was the president of Loblaw Companies Limited, a Canadian supermarket chain with more than 1,000 corporate and franchised stores under various operating banners.
“I look forward to this exciting opportunity to build upon Duane Reade’s strong operating and financial performance over the past two years,” said Lederer. “I am joining a talented senior management team that has directed a very impressive transformation and is dedicated to delivering additional success. I am committed to working with this team to enhance Duane Reade’s market leadership position in the New York metropolitan area and to helping the company achieve its primary objective to serve the unique needs of the New York City consumer.”
David D’Arezzo, Duane Reade’s senior vp and chief marketing officer, who most recently has served the company as its interim ceo, will continue his responsibilities as senior vp and chief marketing officer under Lederer once Lederer becomes ceo.
Giant Eagle alleges chocolate price fixing
PITTSBURGH According to reports, Giant Eagle has filed suit against a number of chocolate manufacturers, claiming that it was overcharged for products. The company alleges that during the period between 2002 and 2007, it was overcharged for $200 million worth of chocolate products.
The company has named some major players in the suit, including Hershey, Mars and Cadbury Schweppes. According to reports, the suit is not the first to claim overcharging by chocolate manufacturers.
Sears to sell more appliances at Kmart
HOFFMAN ESTATES, Ill. Sears Holdings, according to its annual report, plans to sell appliances at more of its Kmart stores and will open more dealer stores this year.
The company also said in its annual report filed with the U.S. Securities and Exchange Commission that it expects capital spending this year to be flat with last year’s level.
In the filing, Sears Holdings said it “will continue to explore opportunities to profitably cross-merchandise products and services” between its Kmart and Sears stores.
That includes continuing to roll out home appliances, such as those in Sears’ proprietary Kenmore brand, to more Kmart stores, Appliances, a category in which Sears is the dominant U.S. retailer, accounted for about 15% of company revenues during fiscal 2007, the filing said.
As of Feb. 2, the end of fiscal 2007, about 280 Kmart stores were selling major home appliances, the filing said. At the end of fiscal 2005, about 100 Kmart stores were selling Sears-branded products such as tools and appliances.
The company said it opened 40 dealer stores during fiscal 2007, and would open more in rural and urban areas this year. Sears has 857 dealer stores, which sell appliances, electronics, lawn and garden equipment, hardware and car batteries.