OPERATIONS

Sears Holdings Names Presidents

BY CSA STAFF

Hoffman Estates, Ill. Sears Holdings Corp. announced that John W. Froman will join the company’s executive team as senior VP and president, Ttools and lawn and garden.

Froman was most recently with Namco, LLC, a regional chain of family recreation superstores, where he served as CEO for two years. Prior to Namco, he spent 19 years at Circuit City Stores, Inc., including a stint as executive VP and COO.  Separately, the company promoted Douglas T. Moore to senior VP and president, appliances. Moore started with the company in June 2007 as senior VP, hardlines merchandising.

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Pep Boys posts 4Q sales loss

BY CSA STAFF

PHILADELPHIA The Pep Boys announced that sales for the fourth quarter ended Feb. 2 were $517.6 million, as compared to the $578 million recorded for the fourth quarter ended February 3, 2007. Excluding the 14th week of fourth quarter 2006, comparable-merchandise sales decreased 4.4% and comparable-service revenue decreased 1%.

The company reported a fourth quarter net loss of $18.5 million, or 36 cents per share – basic and diluted, from net earning of $7.9 million, or 15 cents per share – basic and diluted, for the same period last year. According to Pep Boys, the net loss included $8.5 million of margin reductions related to the exiting of non-core merchandise, $6.2 million in store closure costs and $6 million in debt pre-payment costs.

Sales for the fiscal year ended Feb. 2 were $2.14 billion as compared to the $2.24 billion recorded last year. Excluding the 53rd week of 2006, comparable-merchandise sales decreased 4.2% and comparable-service revenue increased 1.8%.

Net loss increased from $7.07 million, or 13 cents per share – basic and diluted, to  $37.4 million, or 72 cents per share – basic and diluted. 

President and ceo Jeff Rachor commented, “While the difficult economic backdrop created sales challenges during the fourth quarter, we are pleased to confirm that our progress to date leaves us well positioned to complete this first important step in our strategic plan by the beginning of the second quarter of this year.

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ALDI launches ‘smart’ ad campaign

BY CSA STAFF

NEW YORK ALDI has launched a new television campaign in the United States.

The four commercials center on the themes of “musical,” “soccer mom,” “extended family” and “dinner party.” Each one presents a different scenario, i.e. shopping for a big family, or putting together the perfect dinner party, and ties into the ALDI motto of “shopping smart.”

The commercials can be viewed on ALDI’s Web site.

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