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Report: Market Basket to continue $300 million payout
Tewksbury, Mass. – DeMoulas Supermarkets Inc., operator of the Market Basket supermarket chain, has reportedly been allowed by a judge in Suffolk Superior Court in Massachusetts to continue making a $300 million payout to shareholders.
According to the Boston Globe, Judge Judith Fabricant denied a motion by Arthur T. DeMoulas, president of DeMoulas Supermarkets, to stop the payout, which had been approved by a majority of the company’s board of directors. All nine shareholders receiving the payout are members of the DeMoulas family. -
Schnuck Markets names former Giant-Landover prez as strategy chief
Former president of Giant-Landover, Anthony Hucker, has joined Schnuck Markets as EVP and chief strategy officer.
Hucker recently resigned as president of Giant-Landover, a chain owned by Ahold USA that runs 169 stores in the District of Columbia and surrounding areas.
"Anthony is a tremendous talent who shares our values; he's customer-focused and a true merchant in every sense," Schnucks chairman and CEO Scott Schnuck said. "We expect that he will add velocity to efforts that will ensure Schnucks' continued growth and success."