Supervalu EVP transitions to new role
MINNEAPOLIS — A 20-year veteran at Supervalu will become a senior counselor outside of the company for one year.
David Boehnen, who as EVP was responsible for legal, business development, real estate and store development, as well as government affairs, will leave his post at the retailer but will serve as a senior counselor for Supervalu president and CEO Craig Herkert for one year.
The change is effective Dec. 15.
“I have had a close relationship with Supervalu extending for many years, even before I joined the company in early 1991. I will reflect on it fondly as I move into the next phase of my career,” Boehnen said. “While I will no longer be involved in the day-to-day activities of the company, I look forward to working with Craig and the management team in my new capacity.”
With Boehnen’s new role, Todd Sheldon, group VP legal, will be promoted to SVP and general counsel, reporting to Andy Herring, EVP real estate, market development and legal.
Dollar Tree completes purchase of Dollar Giant assets
CHESAPEAKE, Va. Dollar Tree on Wednesday announced that it has completed its purchase of the assets of 86 Dollar Giant stores for approximately $52 million in cash, plus the assumption of certain liabilities.
This marks Dollar Tree’s first expansion of retail operations outside of the United States.
Based in Vancouver, British Columbia, Dollar Giant stores offer a wide assortment of general merchandise, contemporary seasonal goods and everyday consumables, all priced at Canadian $1.25 or less. The stores average 9,000 gross sq. ft. and operate in British Columbia, Ontario, Alberta and Saskatchewan.
"We now have an outstanding platform for significant expansion in Canada, with an experienced team of management and associates,” stated Bob Sasser, Dollar Tree president and CEO.
Dollar Tree operates 4,009 discount variety stores across 48 states. The company is one of the few operations in the dollar channel that literally sells everything for $1 or less.
Deloitte consumer spending index drops in October
NEW YORK — Soft housing prices drove down the Deloitte consumer spending index for the month of October, Deloitte said Wednesday.
The index, which is comprised of four components — tax burden, initial unemployment claims, real wages and real home prices — fell to 4.63%, from an upwardly revised gain of 4.84% a month ago.
But Deloitte said that the drop is no reason to give up hope on the holiday season.
"Despite the index’s recent weakness, there are signs that consumers are starting to shake off their long-term austerity in time for the holiday season," said Alison Paul, vice chairman and retail sector leader at Deloitte. "Recognizing there is still fierce competition for consumers’ wallets this season, retailers should be ready to capture the consumer’s interest with renewed focus on their exclusive items, personalized service and targeted promotions."