Target buys Cooking.com, CHEFS Catalog
MINNEAPOLIS — Target Corp. has purchased two online retailers of cooking equipment in a move designed to expand its cooking and kitchenware business, said the mass merchandise retailer, which has lately made major investments in multichannel retailing.
Target announced the purchase of Cooking.com and CHEFS Catalog, both of which will continue to operate under their current names as a single, wholly owned subsidiary of Target. Financial terms of the deals were not disclosed.
"We are excited to bring CHEFS and Cooking.com into the Target family," Target SVP enterprise strategy and president of multichannel Casey Carl said. "We know consumers are increasingly looking online for cooking solutions to make their lives easier — from utensils and cookware to recipes. These strategic transactions provide us a great way to address this growing opportunity and will offer expanded online options for our guests."
CHEFS president and CEO Tim Littleton will become president of the subsidiary, reporting to Carl, while Cooking.com CEO and co-founder Tracy Randall will become a consultant to Target.
"We’re delighted to be a part of the Target organization," Littleton said. "CHEFS has grown and thrived online by offering a well-edited selection of leading kitchen tools, gadgets and accessories. Combined with Cooking.com and their strong Powered By partnerships, their vast array of recipes and user-driven product ratings and reviews, we believe we’re well-positioned to provide an even richer online experience for our collective customers."
In a call with analysts in late February to discuss the company’s fourth quarter and fiscal year 2012 earnings, the company said its planned announcements in supply chain and technology, including multichannel, would equal investments in stores themselves. Earlier this month, Target announced a partnership with Fast Company magazine to sponsor a competition to develop a new mobile experience for the retailer to coincide with the SXSW conference in Austin, Texas. Mobile purchases constitute more than 7% of the company’s sales, while mobile traffic constitutes more than 25% of overall digital traffic.
Safeway declares quarterly dividend
PLEASANTON, Calif. — Safeway on Friday announced that its board of directors met Thursday and declared a regular quarterly cash dividend of $0.175 per share.
The cash dividend will be payable on April 11 to stockholders of record at the close of business on March 25.
Safeway shares were down 7 cents to $24.31 in early-morning trading Friday.
Safeway EVP retail operations Bruce Everette retires
PLEASANTON, Calif. — Safeway on Friday announced the retirement of Bruce Everette, EVP retail operations. Kelly Griffith, current president of merchandising, has been chosen to succeed Everette.
"We are deeply grateful to Bruce for his significant and lasting contribution to our company’s success," stated Steve Burd, chairman and CEO. "He is the consummate operating executive whose results and people-oriented approach to the business leave an unmistakable imprint on who we are as a company."
Everette’s career began in 1968 as a clerk in Virginia. He then worked his way up the retail management ranks, holding positions in several geographies, including Oklahoma, Arizona, Illinois and Northern California. He was named president of Safeway’s Phoenix Division in 1995 and three years later became president of the Northern California Division. He was named EVP retail operations in 2001.
Everette has been recognized for his commitment to numerous philanthropic organizations throughout his career. Easter Seals honored him with the State Board of Virginia Pasture Award for Outstanding Leadership. He also received a Lifetime Achievement Award from the Muscular Dystrophy Association and the Distinguished Citizen Award from the Boy Scouts of America.
In 1997 Everette was honored as Arizona’s Retailer of the Year. The University of Southern California named him Food Industry Executive of the Year in 2006. Last year the food industry inducted him into the California Grocer’s Association’s Educational Foundation Hall of Achievement.
Griffith brings 33 years of experience and leadership to his new role. After working his way through a range of retail store management assignments, he was assigned to corporate retail operations in 1999 and named VP the following year. Griffith was promoted to VP retail operations in the Seattle Division in 2001, then returned to the corporate office as SVP, produce and floral in 2004. He was promoted to Portland Division president in 2005 and returned to corporate in 2008 as president of perishables.
In 2010 he was named president of merchandising.
"Over the years Kelly has assumed increasing responsibility at both Division and Corporate levels," noted Safeway president Robert Edwards. "He is a well-rounded executive with a deep background in marketing and retail, and he is ready to lead our Retail Operations to further success. I am extremely pleased to have an executive with Kelly’s experience ready to step up to fill this important role."