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Inside This Issue - News
In its latest executive suite shuffle, A&P has named Sam Martin president and chief executive officer, replacing Ron Marshall, who had held the positions for just over six months. Joe Magnacca has been promoted to president of greater New York drug chain Duane Reade. He formerly was executive vice president and chief merchandising officer. After tantalizing Manhattanites for years with temporary pop-up stores, Target Corp. has opened its first store in Manhattan. The 174,000-square-foot outlet represents the single-largest store investment in the retailer’s history. Retail industry trade groups hailed the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which contains significant reform of credit and debit card swipe fees. The bill was signed into law by President Obama on July 21. Safeway Inc. reported a 41% drop in net earnings for its second fiscal quarter as sales stalled. The company has revised its full-year earnings projection downward. Bottom Dollar Food, a division of Delhaize America Inc., plans to open 15 to 20 stores by the end of this year in the greater Philadelphia market. Save-A-Lot, the discount grocery division of Supervalu Inc., has joined forces with Rafael Ortega, a prominent Hispanic grocery operator in Texas, to form Adventure Supermarkets LLC.
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