Meijer investing $375M to build and remodel stores
GRAND RAPIDS, Mich. — Meijer is investing more than $375 million to build new stores and remodel existing stores in its six-state footprint. This investment includes the construction of seven new Meijer supercenters and 22 different remodel projects.
“These projects represent an investment in our customers, team members and the local communities that have supported us for so long,” Meijer President and CEO Rick Keyes said. “We’re also excited that at long last we’ll cross the bridge and open our first stores in Michigan’s upper peninsula.”
By the end of 2017, Meijer will have remodeled and upgraded nearly 90 stores since 2010, as part of a company commitment to provide customers with the best possibly shopping experience. The retailer will have opened more than 50 new stores since 2010.
The seven new Meijer supercenters will be located in Escanaba, Mich.; Sault Ste. Marie, Mich.; McCordsville, Ind.; Franklin, Ind.; Greenfield, Wis.; Howard, Wis. (Green Bay area); and West Bend, Wis.
Grand Rapids-based Meijer operates more than 230 supercenters and grocery stores in Michigan, Ohio, Indiana, Illinois, Kentucky and Wisconsin.
Walgreens names new CIO
DEERFIELD, Ill. — Walgreens Boots Alliance named Steve Turner Walgreens VP and chief information officer, effective April 1.
Turner will succeed Abhi Dhar, Walgreens current CIO, who announced in February his intent to resign his Walgreens post in favor of pursuing an entrepreneurial venture.
"Since joining Walgreens in 2009, Steve’s experience and his deep knowledge of our systems position him well to move into this new role," noted Scott Goldberg, Walgreens senior manager media relations. "Over the next month, Steve will have the opportunity to work closely with Abhi Dhar, Walgreens current CIO, to transition responsibilities."
Turner currently serves as Walgreens VP service delivery and infrastructure, and also has also held Walgreens leadership roles in e-commerce, data analytics, digital, mobile and infrastructure operations.
Prior to Walgreens, Turner held various operations and technology leadership roles at Orbitz and Intuit. He also had engineering roles as a contractor for the Department of Defense.
Turner has a bachelor’s degree in computer science from Chapman University and an MBA from the Kellogg School of Management at Northwestern University. He also served in the U.S. Navy as a cryptologic technician.
Costco increases membership dues
ISSAQUAH, Wash. — Costco announced Thursday it will increase its membership fee by $5 to $60 annually for its U.S. and Canada Goldstar individual, business and business add-on members. This change will take effect June 1.
Also effective June 1, annual fees for Executive memberships in the U.S. and Canada will increase by $10 to $120. Both moves will impact a total of about 35 million members, stated Costco.
However, the maximum annual 2% reward associated with the executive membership will increase from $750 to $1,000.
Costco made these announcements as part of its earnings results for its 2017 fiscal second quarter. Net sales for the quarter ended Feb. 12 increased 6% to $29.13 billion. In its U.S. division, comparable store sales rose by 3% year over year.
Net income came in at $1.17 per share in its fiscal second quarter, versus $1.24 per share during the same period in 2016.
Costco also announced its four-week results for the month of February ended Feb. 26, in which comp store sales increased in its U.S. division by 5%.
Costco operates 728 warehouses, including 508 in the United States and Puerto Rico.