Raley’s welcomes back former CEO
Sacramento, Calif. Raley’s said that former CEO Michael Teel will return to the helm of the supermarket chain. Teel, grandson of founder Tom Raley, led Raley’s between 1996 and 2002. He recently noted that it is his goal to keep the chain privately held.
“This is a special company,” Michael Teel said in a statement. “We are unique in how our employees offer service to our customers. I value that strength, and see it as essential to who we are. As a leader, my role is to foster this unique quality and allow it to thrive.”
Dollar General names former CVS exec to board
GOODLETTSVILLE, Tenn. Dollar General David Rickard to its board of directors.
Rickard served as EVP, chief financial officer and chief administrative officer of CVS Caremark Corporation and CVS Pharmacy from September 1999 until December 2009. Prior to joining CVS Caremark, Rickard was the SVP and chief financial officer of RJR Nabisco Holdings Corporation from 1997 to 1999.
“We are pleased to welcome such a retail veteran to our board,” said Rick Dreiling, Dollar General’s chairman and CEO. “Dave’s years of experience and diverse retail industry background will be an asset to the Dollar General board. We are certain that his expertise will serve Dollar General well as we work to move the company forward.”
TWE reports December comps decline
ALBANY, N.Y. Trans World Entertainment reported a comparable-store sales decrease of 5% for the five-week period ended Jan. 2.
For the nine-week period ended Jan.2, comparable-store sales decreased 8%. Total sales for the nine-week period were $241 million compared with $287 million for the same period last year, a decrease of 16%.
For the eleven-month period ended Jan. 2, comparable-store sales decreased 10%. Total sales for the period decreased 18% to $760 million compared with $930 million during the same period last year.