OPERATIONS

McDonald’s chief to retire June 30

BY Katherine Boccaccio

Oak Brook, Ill. — McDonald’s Corp. announced Wednesday that vice chairman and CEO Jim Skinner will retire on June 30.

Skinner will be succeeded by current president and COO Dan Thompson, 48, effective July 1.

Skinner, 67, has worked for the chain for 41 years and has served as CEO since late 2004. “Doing what’s right for our customers and our business has driven my passion as CEO of McDonald’s,” he said in a statement. “I’m honored to have served and earned the trust of the board, our shareholders, franchisees, suppliers and the men and women of this great company.

Credited with a turnaround of the world’s largest hamburger chain, Skinner took the helm following the deaths of his two immediate predecessors, Charlie Bell and Jim Cantalupo. At that time, McDonald’s was just beginning to execute its Plan to Win, a program now described as the catalyst for reversing a negative sales trend.

Thompson became president and COO of McDonald’s in January 2010. Previously, he served as president of McDonald’s USA from 2006 until 2010.

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REAL ESTATE

RadioShack forges agreement to expand into southeast Asia with 1,000 stores

BY Katherine Boccaccio

Fort Worth, Texas — RadioShack Corp. said Thursday it has made an agreement with Malaysian retail group Berjaya Retail Berhad that will expand RadioShack’s global footprint across 10 Southeast Asian countries.

Under the long-term agreement, Berjaya Retail (Cayman) Limited as franchise developer is expected to open at least 1,000 franchise locations across the Association of Southeast Asia Nations within the first 10 years. Its subsidiary in Malaysia, Berjaya RS Sdn. Bhd., expects to open its first RadioShack locations later this year in Kuala Lumpur.

The Berjaya relationship represents RadioShack’s single largest franchise expansion to date and offers the potential to nearly double the number of RadioShack’s total dealer-franchise locations worldwide, eventually increasing the company’s global footprint to 39 countries.

Berjaya Retail Berhad operates the 7-Eleven and Singer brands that have a combined network of 2,000 stores.

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FINANCE

Dollar General sets Q4 sales and profit records; 625 stores on tap for 2012

BY Katherine Boccaccio

Goodlettsville, Tenn. — Dollar General Corp. reported Thursday that profit for the quarter ended Feb. 3 surged 33% to a record $299 million, from $226 million in the prior year.

Sales increased 20.1% to $4.19 billion, compared with $3.49 billion in the year-ago period. Same-store sales rose 6.5%.

For the full year, profit rose 26% to $819 million, from $649 million in 2010. Sales surged 13.6% to $14.8 billion, from $13 billion last year. Same-store sales rose 6%.

After opening 625 stores in 2011, Dollar General said Thursday it plans to open another 625 units in 2012, which will include 40 of its Dollar General Market stores and 80 new market debuts. About 550 stores are slated for remodel or relocation during the upcoming year.

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D.Sullivan says:
Mar-27-2012 07:53 am

These types of stores are
These types of stores are doing well simply because of their prices. When people need to cut costs they go to these stores because they really can save a lot of money. It doesn't make sense to over pay when you don't have to.

 

Dollar General stores do a very good business and do not need to spend a fortune in a down economy where everyone is looking to save a few dollars for their households.

D.Sullivan says:
Mar-27-2012 07:53 am

These types of stores are doing well simply because of their prices. When people need to cut costs they go to these stores because they really can save a lot of money. It doesn't make sense to over pay when you don't have to.

 

Dollar General stores do a very good business and do not need to spend a fortune in a down economy where everyone is looking to save a few dollars for their households.

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