-
Cold January for some retailers
New York -- Snowstorms and bitterly cold weather took a bite out of sales for some retailers in January. One of the retailers feeling the chill was Fred’s, which posted a 1.8% decline in January same-store sales.
"The weather was a significant challenge for us in January," said CEO Bruce Efird, who added that it disrupted shopping patterns, but also resulted in “more than 120 store closings during the final week of the month."
-
Fairway Markets CEO to retire
New York -- Fairway Holdings Corp., operators of Fairway Markets, announced that CEO Herbert Ruetsch will retire after fifteen years with the company, including the last two years as chief executive. Ruetsch will remain a special advisor to Fairway and continue to provide input into certain merchandising and product initiatives.
William Sanford, president of Fairway, will assume the role of interim CEO while the board undertakes a search for a permanent replacement.