Shaw’s, Star Market eliminate loyalty card
West Bridgewater, Mass. — Shaw’s and Star Market have ended their loyalty card program. The program offered shoppers sale prices on selected items.
In line with the decision to drop the loyalty card program, Shaw’s and Star Market announced they are lowering prices on thousands of items across all of its 169 locations.
“All of our customers deserve to get the lowest price on their groceries without needing to carry a Rewards Card with them,” said Shane Sampson, president, Shaw’s and Star Market. “Every customer who walks through our door deserves our best — from service to foods to pricing — and these lower prices are what our customers can expect from us every time they visit one of our stores.”
Shaw’s and Star Market’s decision to eliminate the program puts the company in line with such fast-growing grocers as Trader Joe’s and Aldi’s, which use low prices to drive sales.
West Marine details sustainability progress
Watsonville, Calif. — West Marine has released its BlueFuture(R) 2012 Sustainability Report. The study encompasses the retailer’s company-wide efforts focusing on sustainability, including improving and protecting the marine environments, reducing the company’s carbon footprint and encouraging people to enjoy being out on the water.
Included in the report is a reduction in the company’s greenhouse gas of 4.29% year over year, with an over 17.5% reduction since its 2007 baseline.
"There is no company in the U.S. that has a bigger impact on boating than West Marine," said Matt Hyde, CEO of West Marine, which operates some 300 stores. "It’s a privileged position, and with privilege comes great responsibility. Across the board, we’ve made significant progress towards our mission to ‘conserve marine resources, reduce our impact on the environment and promote boating,’ but there’s more work to do.”
Restoration Hardware shareholders to sell 10 million shares
Corte Madera, Calif. — Restoration Hardware Holdings Inc. said Friday that a group of stockholders will plan to sell up to 10 million shares of the company.
The company registered an offering of up to 10 million shares worth as much as $753.2 million. It did not specify who will sell the shares or when the offering is expected to close.
Restoration Hardware’s biggest shareholders are the private equity firms Catterton Partners and Tower Three Partners, followed by Glenhill Capital.
Chairman and co-CEO Gary Friedman holds 6.9% of Restoration Hardware’s shares. Co-CEO Carlos Alberini owns 3.9%.
Friedman, who stepped down as chairman and co-CEO of the chain last October, recently returned to both those roles.