At last week's Joint Industry Conference on Efficient Consumer Response in Chicago, Richard Goodspeed of Vons Cos., Arcadia, Calif., and Durk Jager of Procter & Gamble, Cincinnati, said ECR efforts must aim to streamline new item introductions and product assortments. Co-chairmen of the Joint Industry ECR executive committee, they noted that three to four times as many new items were introduced in 1995 vs. five years ago and that their failure rate is up to 90%. The conference drew an estimated 1,500 attendees.
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Richfood, Mechanicsville, Va., last week filed a registration statement with the Securities and Exchange Commission relating to 3.45 million shares of its common stock, plus an overallotment option of an additional 475,845 shares, to be sold by certain former affiliates of Super Rite Corp., Harrisburg, Pa. The shares are being registered pursuant to demand registration rights granted in connection with Richfood's acquisition of Super Rite in October.
Carr Gottstein Foods, a 39-unit chain based in Anchorage, Alaska, has completed an offer to exchange up to $100 million principal amount of privately held notes for the same amount of publicly traded notes. It involved an exchange of newly issued 12% senior subordinated notes due 2005 for a like amount of outstanding 12% senior subordinated notes due 2005.
