Todd Vasos named Dollar General COO; former Duane Reade exec joins Dollar General executive team
GOODLETTSVILLE, Tenn. — Dollar General on Monday announced a number of senior management changes. Todd Vasos has been named COO with responsibility for store operations, merchandising and supply chain. And David D’Arezzo has joined the company as EVP and chief merchandising officer.
"The alignment of our organization across store operations, merchandising and supply chain with the promotion of Todd to COO and the addition of David will create an even stronger management team and position us well for future growth," stated Rick Dreiling, Dollar General chairman and CEO. "Dollar General has strong management depth across the organization, which clearly understands our industry, our operations and our people. Now is the perfect time to strengthen that expertise with the addition of David to the team. Having personally experienced the impact he made at Duane Reade, I believe his vision, ability to drive results and deep experience across several industries will provide a unique perspective to Dollar General."
Vasos was most recently EVP and chief merchandising officer. Since joining the dollar store operator in December 2008, Vasos has implemented numerous merchandising initiatives key to Dollar General’s growth, the company stated. He served previously as EVP and COO at Longs Drugs, the California-based pharmacy chain acquired by CVS in 2008. Prior to that, he served as SVP and chief merchandising officer at Longs. He also held leadership positions at Eckerd Drug and Phar-Mor Food and Drug. Vasos earned a bachelor’s degree in marketing from Western Carolina University.
D’Arezzo brings more than 30 years of retail and consumer product company experience across merchandising and operations. Most recently, D’Arezzo served as EVP and COO of Grocers Supply and previously served as SVP and chief merchandising officer for Duane Reade. D’Arezzo earned a bachelor’s degree in business administration from the University of San Francisco and a master of business administration from the Wharton School at the University of Pennsylvania.
Shopko opens five Shopko Hometown stores in November
GREEN BAY, Wis. — Shopko is opening five new small-format stores this month, the mass merchandise retailer said Monday.
The retailer opened the doors Monday to three Shopko Hometown stores in Ellsworth, Wis.; St. Peter, Minn.; and Winneconne, Wis. Two more openings are planned on Nov. 11 for Afton, Wyo., and Tomahawk, Wis. Shopko operates 330 stores in the Midwest, North Central, Mountain West and Pacific Northwest regions, including — with the five new locations — 180 Shopko Hometown stores.
"We’re excited to continue the growth of the Shopko Hometown concept with these new stores and expect them to be well-received by residents in each of these five great communities," Shopko interim CEO and COO Mike Bettiga said. "We understand that consumers in smaller towns want convenient access to the same variety of high-quality goods and on-trend merchandise without having to travel a good distance from their community. Our Hometown customers tell us they appreciate the vastly improved shopping experience and access to a broad, differentiated selection of merchandise, including products and brands previously not available to them locally."
Safeway completes sale of Canadian operations to Sobeys
PLEASANTON, Calif. — Safeway on Monday announced that it has completed the sale of the net assets of Canada Safeway to Sobeys, a wholly-owned subsidiary of Empire Co.
Proceeds from the transaction of $3.8 billion in cash after taxes and expenses and between $400 and $450 million in U.S. tax benefits related to the exit of the Chicago market will be used to pay down $2 billion of debt, with the majority of the remainder to be used to buy back stock. In addition, some of the proceeds may be used to invest in growth opportunities, Safeway reported.
"We are pleased to have completed the sale of our Canadian operations to Sobeys," stated Robert Edwards, Safeway president and CEO. "We believe this represents a significant contribution to shareholder value."