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RadioShack continues to build retail team, naming Michael De Fazio SVP store concepts

BY Michael Johnsen

FORT WORTH, Texas — In a SEC filing, RadioShack last week confirmed it had recruited Michael De Fazio, one of the architects behind Duane Reade’s new store formats, to help the small-box specialty retailer recapture some of its lost retail pizzazz. 

As SVP store concepts, De Fazio joins a team that includes Troy Risch, who came to RadioShack from Target as EVP operations in December, and Huey Long, formerly of Wal-Mart and now RadioShack EVP strategy and consumer insights who also signed with RadioShack in December. 

Heading up that new RadioShack team is CEO Joe Magnacca, who with De Fazio, helped re-configure Duane Reade and later Walgreens as go-to shopping destinations and helped redefine what consumer’s connotation of what shopping in the drug channel entailed. 

Magnacca told analysts in late February that he likes how the new team at RadioShack is shaping up. "What you’ll see is that there’s a customer-first mentality inside our business, and probably has been for 5 or 6 weeks, that we’ll continue to build on. … We have a marketing strategy that touches different communities in different ways, and our objective is to really use social, mobile and mass media in a way that will encourage and drive traffic," he said. 

But RadioShack is still looking to round out its executive team. "We spent a lot of time looking at the [executive] team and where the voids are inside our business," Magnacca said. "Clearly, as you know from previous calls, we’re still without a chief merchandising officer inside our business. So that’s definitely a void," he said. "The work that I’m currently doing and assessing, it is getting very specific to roles and functions, so whether it’s store development, renovation programs, et cetera, and what expertise do we have inside our business. Again, I’m going to take much more of a four-wall view of the store and look at the voids as it relates to that and start to build the transformation story and putting the right people in place to ensure we can do that."

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New York City legislation would require hiding of tobacco displays

BY Alaric DeArment

NEW YORK — In spite of a court ruling striking down a ban on large-sized sugary drinks, New York mayor Michael Bloomberg has another health initiative in the works: a requirement that retailers hide tobacco products.

Bloomberg’s legislation, which would make New York the first city to keep tobacco products out of the sight of customers, will go to the city council for consideration. The New York Times noted that Bloomberg skipped this procedure with the soft drink rule.

The new regulations on tobacco would still be less stringent than those in San Francisco and Boston, which have banned pharmacy retailers from selling tobacco products altogether.

The mayor’s office noted that 28,000 public high school students in New York tried smoking for the first time in 2011, and 19,000 public high school students younger than 18 smoked, citing statistics indicating that young people frequently exposed to tobacco product displays are 2.5 times more likely to start smoking than those who are not exposed.

 

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J.KESSLER says:
Mar-19-2013 12:44 pm

Doesn't NYC have bigger problems to deal with than this? Like Bloomberg's last attempt at limiting soda for the good of the people. Next, he'll be mandating that all grocery stores hide the baked goods behind closed doors in the Bakery section because statistics probably show that 2.5 times more people purchase baked goods when on display, contributing to obesity. The best thing that the city council could do at this point is get the Mayor some psychological help, or at least some qualified training on human behavior. Mandate that he concentrate on what a Mayor's role is in the most famous city in the free world... like help to improve education, public safety, reduce poverty......... certainly not limit individual freedom and impede legitimate business.

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CVS Caremark donates $250K to Chicago State University for new pharmacy student center

BY Antoinette Alexander

CHICAGO — Chicago State University’s College of Pharmacy has announced that CVS Caremark has donated $250,000 for the development of the CVS Caremark Student Center and Technology Laboratory.

“This donation will help to improve the College’s physical space and technological resources, which greatly enhances student success within the College of Pharmacy. To say thank you is an understatement,” stated Dean Miriam Mobley Smith with the College of Pharmacy.

“CVS Caremark is pleased to support Chicago State University’s College of Pharmacy and its mission to educate and train new generations of pharmacists,” stated Papatya Tankut, VP of pharmacy affairs at CVS Caremark. "The CVS Caremark Student Center and Technology Laboratory will help ensure that students are prepared for success in a rapidly evolving pharmacy industry."

The grant, disbursed over a five-year period, will support pharmacy students by providing:

  • Integrative learning: This laboratory will provide students with an opportunity for small group hands-on experiences in preparing for and conducting presentations and using new technology in their preparatory efforts;
  • Development of practical skills to enhance scholarship: The new center will be used to enhance faculty-student engagement. Through this experience students will improve and expand upon their oral, writing, and research skills; and
  • Social interaction: Students will work together to strengthen intercultural language, values and traditions to foster one-team spirit and objectives.

"This gift will create educational opportunities that will enable our pharmacy students to achieve success as individuals and contributors to the global healthcare community," added CSU president Wayne D. Watson. “We are grateful for the generosity of CVS Caremark, who supports our mission of teaching a diverse community of scholars.”

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