OPERATIONS

New Leadership at Ahold

BY CSA STAFF

Amsterdam, Netherlands Ahold announced various corporate changes on Friday.

Carl Schlicker, president and CEO of Giant-Carlisle, has been named president and CEO of Stop & Shop/Giant-Landover. He will succeed JosE Alvarez, who has been appointed executive VP global business development.

Sander van der Laan, executive VP, marketing and merchandising for Albert Heijn, has been appointed president and CEO of Giant-Carlisle, replacing Schlicker. Schlicker and van der Laan will report to Lawrence Benjamin, COO, Ahold USA.

Albert Voogd, executive VP, sales and services at Albert Heijn, will succeed van der Laan and become executive VP, marketing and merchandising at Albert Heijn.

Cees van Vliet, who is currently responsible for format management at Albert Heijn, will suceed Voogd as executive VP, sales and services. Voogd and van Vliet will report to Dick Boer, COO, Ahold Europe.

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Walgreens to reduce drug store growth

BY CSA STAFF

DEERFIELD, Ill. Walgreens reported that it plans to reduce its organic drug store growth from about a 9% increase for the current fiscal 2008 year to about 6% in fiscal 2010 and to about 5% annual increases beginning in fiscal 2011.

Previously, the company had planned a long-term store growth rate of 8 %. New store openings that are already in the pipeline are expected to result in approximately 8% organic store growth in fiscal 2009.

According to Walgreens, its planned future expansion rates are the equivalent of opening about 495 net new organic stores in fiscal 2009, 425 in fiscal 2010 and 365 in fiscal 2011. These new growth targets resulted from the companys regular review of its growth and capital expenditure plans.

This move allows us to improve both return on invested capital and overall shareholder value, said Walgreens chairman and ceo Jeffrey Rein. At the same time, it gives us the flexibility to invest in our core strategies. 

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Tuesday Morning 4Q sales drop 10.4%

BY CSA STAFF

DALLAS Tuesday Morning reported net sales for the fourth quarter ended June 30 were $196.5 million compared to $219.4 million for the quarter ended June 30, 2007, a decrease of 10.4%.

Comparable-store sales for the quarter ended June 30 decreased by 12.7% comprised of an 11% decrease in traffic and a 1.8% decrease in average ticket.

Based on the fourth quarter sales results, the company currently expects diluted earnings per share for the fourth quarter to be in the range of (5 cents) to (8 cents) compared to 5 cents for the same period last year.

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