Fortune Cites Safeway VP
Larree Renda, executive vice president, retail operations, of Safeway here was cited last month by Fortune magazine as one of the "50 Most Powerful Women in Business." Renda began working for Safeway at age 16 in 1974 and, as she progressed through the company's retail ranks, earned the distinction of being the youngest store manager, district manager and retail operations manager in Safeway history. She also became the company's first and youngest woman senior vice president in 1994 and its first female executive vice president in 1999.
Supermarkets Post High Net Profits
WASHINGTON -- The supermarket industry posted its highest net profits in nearly 30 years, according to a study released last week by the Food Marketing Institute here. The 2000-2001 Annual Financial Review said net profits for supermarkets were 1.25% of sales, while operating income was 3.03%, just below the 10-year high of 3.05%. Tim Hammonds, FMI president and chief executive officer, attributed these results to "efficiency, rigorous cost controls and strategic use of technology."
Hilton Named Advisory Council Chair
WASHINGTON -- The Food Marketing Institute Foundation here said last week Steve Hilton, vice president, product quality and environmental affairs, Albertson's, Boise, Idaho, has been named chairman of the Foundation's Industry Advisory Council. The council, which meets once a year, establishes criteria for the foundation board to use in reviewing food-safety program-funding proposals. The council meets once a year.
Fresh Brands Launches Campaign
SHEBOYGAN, Wis. -- Fresh Brands here said it plans to launch a television advertising campaign during the first quarter of 2002 that will feature children talking about elements of the company's stores. According to Elwood Winn, chairman, president and chief executive officer, the TV ads will be designed "to leverage the focus on family values" by incorporating comments by children talking about nutrition, produce and the chain's loyalty card program, among other store features. "The campaign is designed to take advantage of the strong concentration on pricing in the area by doing something that sets us apart from item-and-price advertising," Winn said. The campaign will encompass the company's Piggly Wiggly corporate and franchised stores and the corporate-owned Dick's Supermarkets, he added.
Supervalu to Raise $185 Million
MINNEAPOLIS -- Supervalu here said last week that it intends to raise approximately $185 million through an offering of zero-coupon convertible notes. The company said the notes will mature in 30 years and will not be callable until October 2006. The proceeds from the offering will initially repay short-term debt and later will be used to retire a portion of the $300 million in debt maturing in November 2002, according to the company.
Kmart to Open 15 Supercenters
TROY, Mich. -- Kmart Corp. here said it is adding 15 supercenters to its portfolio by mid-November, which will bring the number of supercenters in the United States and the Caribbean to 124 by year-end. Ten traditional Kmart stores are being converted into supercenters, three Big Kmart stores are being expanded and converted into supercenters, and two supercenters will represent new building, the company said. Kmart also will open two Big Kmart stores in Cranston, R.I., and New Windsor, N.Y.
Peapod Offers Free Delivery in Chicago
SKOKIE, Ill. -- Peapod here, the online grocery division of Ahold USA, Chantilly, Va., said last week it will offer free delivery on a promotional basis to its Chicago-area customers through Nov. 15. The free delivery coincides with the company's recent move to a new distribution facility, Marc van Gelder, Peapod president and chief executive officer, told SN. He also said the company remains on schedule to achieve profitability in 2003. Also last week, Peapod's Dutch-based parent company, Ahold, said it is scheduled to launch today an Internet-based, home-delivery service called "Albert" for customers of its 1,700 stores in the Netherlands.
