Safeway Appoints New Board Members
Pleasanton, Calif. Safeway Inc. announced the appointment of Frank Herringer and Kenneth Oder to the company’s board of directors, expanding the board from 9 to 11 members with these two new appointments.
Herringer is the chairman and former CEO of Transamerica Corp., a financial services company. He joined Transamerica in 1979 and held various positions before becoming CEO in 1991 and chairman in 1995. Oder was Safeway’s executive VP of labor relations, human resources, legal and public affairs from 1993 to 2000. Prior to joining Safeway, he was a partner at Latham & Watkins, a Los Angeles-based law firm.
JCPenney reports Feb. comps drop
PLANO, Texas JCPenney today reported that comparable-store sales decreased 6.7% for the four weeks ended March 1, compared with guidance for a low-single digit decrease. In last year’s February period, comparable-store sales increased 1.5%. Total sales in February decreased 4.4%.
JCPenney said that women’s and children’s apparel and family footwear were the best performing merchandise divisions for the February period. The company also commented that its new American Living concept has “enjoyed a good initial customer response.” Home categories and the Southeast region continue to experience the softest results, the company reported.
JCPenney said it expects a low-single digit increase in March comparable-store sales. This is compared to an 11% increase in last year’s period. Total sales for the March period are expected to be about flat.
Target meets Feb. comps goals
MINNEAPOLIS Target today reported that its net retail sales for the four weeks ended March 1 increased 5.9% to $4.4 billion from $4.1 billion for the four weeks ended March 3, 2007. On this same basis, February comparable-store sales increased 0.5%.
“Our comparable store sales performance in February was in line with our planned range,” said Bob Ulrich, chairman and chief executive officer of Target.
Target had called for February comps to be down 1% to up 1%.