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Spartan Stores Completes Acquisition

BY CSA STAFF

Grand Rapids, Mich. Spartan Stores announced that it has completed its previously announced acquisition of 17 supermarkets and 15 pharmacies from VG’s Food Center and VG’s Pharmacy, a privately held Fenton, Mich.-based retail grocery operator.

Spartan said it believes the transaction will increase its annual retail-segment sales by approximately $300 million, with annual consolidated sales increasing approximately $150 million, as VG’s is an existing distribution customer. The acquisition is expected to be slightly dilutive to net earnings in the fiscal 2009 fourth quarter, but accretive during fiscal year 2010.

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Herd to retire as Polk Audio president

BY CSA STAFF

BALTIMORE Polk Audio, announced that its president, Jim Herd, will retire at the end of the year, leading to a realignment of its senior management team.

“After a total of 30 years in the loudspeaker industry, including 16 years here at Polk Audio, I am fortunate enough to be able to retire and attend to more personal interests,” said Herd.

Polk Audio will be structured under the following three primary areas: marketing, sales, and product line management will report to Ben Newhall, vp of sales; engineering, project management, and purchasing will report to Jeff Nemec, vp of new product development; and operations and finance will report to Joe Tristani, COO.

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Amazon.com claims 2008 was best holiday ever

BY CSA STAFF

SEATTLE Amazon.com has managed to defy economic trends, by claiming that the 2008 holiday season was its best ever. According to the company, more than 6.3 million items ordered worldwide on the peak day, Dec. 15, which is a record-breaking 72.9 items per second.

Among Amazon.com’s top sellers this holiday season were the Eyeclops night vision stealth goggles, the Apple iPod touch 8 GB (2nd Generation) and “The Tales of Beedle the Bard” by J.K. Rowling.

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