News

Greatwide Logistics named a new CEO, and YRC Worldwide named a new SVP on Monday.

Greatwide said John Tague would serve as CEO, replacing Leo Suggs who is retiring, but will continue to serve as chairman. Tague previously served as president of United Airlines and also held the position of COO and chief revenue office during his eight years with the airline.

Delinquency rates in Target’s credit card portfolio are now at their lowest level in three years as more people are paying their bills on time. It is an encouraging sign for the long-term health of the nation’s economy to know that people are increasingly using credit in a responsible manner, at least those who have a Target card anyway, and therefore more likely to honor their obligations.

Major retailers dialed back the number of ads inserts and the number of pages in June when compared to the prior year, according to Market Track. Click here to view promotional activity for the 16 of the nation’s leading retailers.

PHILADELPHIA — Giant-Carlisle plans to open its first store in Philadelphia next week, the grocery chain said.

Giant-Carlisle, officially known as Giant Food Stores and owned by Dutch supermarket operator Royal Ahold, announced that it would open the 74,000-sq.-ft. store on July 20. The company already operated stores in the Philadelphia suburbs, but the new store is the first within the city itself.

SUNBURY, Pa. — Weis Markets announced it has lowered the prices on 1,600 staple items and that it will freeze these new lower prices for ninety days through Oct. 8.  It is the company's seventh 90-day price freeze program over the past two and a half years.

Ada, Okla. — Mach Speed Technologies has announced the launch of Eclipse MP3 Music & Video Players at 700 Best Buy locations across the United States. The prices on these models will start at a $19.99 price point and go up to $39.99.

According to the company, this is the first time Best Buy will be carrying opening price point MP3 players.

Target is looking for a low to mid-single digit increase in July same-store sales even though it posted a June increase of 4.5% that exceeded analysts’ estimates and came in at the high end of the company’s range of anticipated results. 

BOCA RATON, Fla. — Office Depot announced that it is partnering with Superior Financial Group (SFG), a leading small usiness administration (SBA) lender, to provide qualified small business customers with access to capital in the form of SBA Loans between $5,000 to $25,000. Customers can apply for a loan by visiting www.officedepot.com/sba.