Toys’R’Us launches rewards program
WAYNE, N.J. Toys”R”Us has launched a new loyalty membership program, Rewards”R”Us. Customers can sign up for the complimentary program at any Toys”R”Us or Babies”R”Us store nationwide or at www.Toysrus.com. Once enrolled, customers can immediately begin to take advantage of a variety of exclusive one-time offers and ongoing benefits, deals and promotions.
“We know that today’s consumers have many choices of where to shop and spend their discretionary income,” said David Sims, director of the company’s loyalty program. “The Rewards”R”Us program is a way to let our customers know how much we appreciate their business and to thank them by offering additional opportunities to find great values and enjoy special services in our stores.”
In conjunction with the launch of the Rewards”R”Us program, Toys”R”Us, Inc. has established a dedicated Web site, Rewardsrus.Toysrus.com, where members can log-in to manage their accounts, track their purchases and progress on special promotions, and find out about recalled products. Using the system, members can also log in-store transactions to receive retroactive credit if they were unable to present their membership card at the time of purchase.
Van Tassel named president of Post Foods
ST. LOUIS Ralcorp Holdings has named Stephen Van Tassel corporate vp and president of the recently acquired Post Foods business.
Van Tassel joined the company on Aug. 4 in connection with the acquisition of Post Foods from Kraft Foods. He will be responsible for managing and growing Post Foods and will report to David Skarie, co-ceo and president of Ralcorp.
Van Tassel most recently served as vp of marketing for the North America Post Cereal Category.
Supervalu posts weaker-than-expected 2Q results
MINNEAPOLIS Supervalu reported second quarter net sales of $10.2 billion compared to $10.2 billion last year, net earnings of $128 million compared to $148 million last year, and diluted earnings per share of 60 cents compared to 69 cents last year. Second quarter fiscal 2009 and fiscal 2008 results included charges for one-time acquisition-related costs of $3 million and $19 million, pretax or 1 cent and 5 cent per diluted share, respectively.
The company reported year-to-date fiscal 2009 net sales of $23.6 billion compared to $23.5 billion last year, net earnings of $290 million compared to $296 million last year, and reported diluted earnings per share of $1.36 compared to $1.37 last year. Year to date fiscal 2009 results include charges for one-time acquisition-related costs of 4 cents per diluted share compared to 13 cents per diluted share last year.
Jeff Noddle, Supervalu chairman and ceo, said, “Despite weaker than expected operating results in the second quarter, we expect another record earnings per share year, with earnings in a range of $2.86 to $2.96 per share. As for the balance of the year, we have taken action to improve our sales performance while creating value for our customers and to reduce costs in the back half of the year.” Noddle went on to say, “We are also affirming that our cash flows will provide for more than $1 billion in capital spending and debt reductions of at least $400 million this year.”