FINANCE

Lowe’s aiming for 2,400 sites in 10 years

BY CSA STAFF

Mooresville, N.C. An executive at Lowe’s Cos. said the chain hopes to expand its U.S. operations to include 2,400 sites, although it could take a decade, the Associated Press reported. The remarks were made by Larry Stone, Lowe’s president and COO, at the Raymond James Institutional Investors Conference on Wednesday.

Lowe’s now operates about 1,650 stores in the United States.

The chain, which added 115 stores in 2008, plans to scale openings back in 2009, adding 60 to 70 stores, including some in Canada and Mexico.

“Most of the expansion this year is going to be in the small- to mid-size markets,” Stone said. “We still think there is tremendous opportunity in the larger metro markets. But quite frankly, based on economic conditions in a lot of those metro areas, there is just no way right now you can justify the new store and the cannibalization it has on the existing stores in the market, because they are all reeling from the housing pressures and all of the other pressures in the market.”

Stone added that the company ultimately expects to open about 100 stores in Canada, a figure he said might take up to seven years to reach.

Lowe’s, which opened its first Canadian stores in late 2007, now has about a dozen there.

“The customers have received us extremely well, and we are very pleased with our performance in Canada the first year of operation,” Stone said

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Arnold to retire from Procter & Gamble

BY CSA STAFF

CINCINNATI Procter & Gamble announced that Susan Arnold, president of global business units, will retire effective Sept. 1, after 29 years of service. She stepped down as president on March 9 and will continue to serve in a special assignment, reporting to chairman of the board and CEO A.G. Lafley, until Sept.1.

“Susan has been an integral part of P&G’s leadership team over the past decade, most recently as president of global business units responsible for more than $80 billion in sales and more than 300 brands worldwide,” Lafley said.

Most recently, Arnold has played a pivotal role in P&G’s focus on sustainability. Under her leadership, P&G adopted company-wide sustainability goals. Sustainability has been integrated into strategies and plans in every business unit.

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Safeway introduces waterfront BISTRO

BY CSA STAFF

PLEASANTON, Calif. Safeway has introduced waterfront BISTRO, a line of nearly 30 seafood selections and prepared entrees.

According to Safeway, its exclusive waterfront BISTRO line was created as a convenient, at-home version of a high-quality seafood bistro experience, complete with recipes for creating everything from gourmet dinners to Sunday brunch fare.

“Now more than ever, people are dining at home, so they want to make the best of their ‘dining in’ experience with restaurant quality meals,” said Matt Miller, VP consumer brands. “waterfront BISTRO provides customers with countless combinations and possible ways to stretch the household budget and discover the ease of making elegant seafood dishes, like Sockeye Salmon marinated with a Garlic Lemon Pepper sauce, at home.”

Waterfront BISTRO options range from heat-and-serve to simple preparation. Items like waterfront BISTRO™ Salmon Fillets, Raw Shrimp and Wild Sea Scallops come with easy recipes to do-it-yourself entrees and appetizers. Pre-made entrees, such as Lemon Dijon Pacific Salmon and Tuscan Roasted Pacific Cod, come marinated and are ready in minutes.

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