Regional Store Management Structure Is Reorganized
BRAINTREE, Mass., Jan. 15, 1996 -- href="chap11.bradlees.html">Bradlees, Inc. (NYSE:
BLE) today announced the appointments of Michael Trafford and George
Van Eron to the positions of Regional Vice Presidents - Stores. Both
executives will report to James Zamberlan, Executive Vice President
These appointments will initiate a reorganization of Bradlees
Stores, in which the Company will consolidate its three operating
regions into two. Regional offices in Edison, NJ, North Haven, CT
and Braintree, MA will be closed in early March, 1996. All
activities in support of Bradlees' 134 stores will be relocated to
the Company's headquarters in Braintree.
In a related move, the Company will also reorganize its stores'
district management group, reducing its current fourteen store
districts to ten. District Managers and related staff will be
housed in a designated store in each of the ten new districts.
Learning Centers will be established in these same stores to better
facilitate training and communication.
Commenting on today's announcement, Mark A. Cohen, Chairman and
Chief Executive Officer said, "The appointments of these two
accomplished executives, Mike Trafford and George Van Eron, and
related actions, signal a commitment to a new stores organization
which will be both extremely capable and cost effective.
Improvements in Bradlees' customer service, merchandise presentation
and productivity are among the most important aspects of our
Michael Trafford has over 20 years experience in retailing.
Prior to joining Bradlees, Mr. Trafford was Regional Vice President
- Pittsburgh for the Rich's/Lazarus/Goldsmiths Department Stores
division of Federated Department Stores, Inc. He began his career
at Lazarus in 1977 in the management trainee program and went on to
serve in such other positions as Sales Manager, Buyer, Store Manager
for several Lazarus locations and Regional Vice President
- Indiana/Kentucky. Mr. Trafford is a graduate of Ohio State
University. He, his wife Gail and their daughter Kristin will
reside in the Boston area.
George Van Eron has over 25 years experience in the retail
industry. He joined Bradlees in July of this year as a District
Manager for 11 stores in Eastern Massachusetts and Southern New
Hampshire. Previously, Mr. Van Eron was Executive Vice President,
Director of Stores and Real Estate for Cherry, Webb & Touraine, a
fifty six regional department store chain specializing in woman's
apparel. He began his retail career in 1971 at Wallach's and has
since served in a senior management capacity for such companies as
Lord & Taylor, Lazarus, Eddie Bauer and Sibley's. Mr. Van Eron is a
graduate of Hofstra University. He and his wife, Valli, are the
parents of two children, Natalie and George Paul. They reside in
East Greenwich, RI.
Bradlees, Inc. operates 134 discount department stores in Maine,
New Hampshire, Massachusetts, Connecticut, New York, New Jersey,
Pennsylvania and Rhode Island. Bradlees' common stock is listed and
traded on the New York Stock Exchange under the symbol "BLE".
/CONTACT: Coleman Nee of Bradlees, 617-380-8354/
NORWALK, Conn.--Jan. 9, 1996--The
Corporation (NYSE:CLD) announced today that Marc I. Balmuth, its
President, has decided not to extend his employment agreement when
it expires on August 31, 1996. To ensure an orderly transition, the
Company has retained Herbert Mines Associates, an executive search
firm, to assist it in the search for a successor.
Don R. Clarke, Chairman and Chief Executive Officer of Caldor,
said: "Marc has played an invaluable role in building this Company.
He has been a terrific partner for me and has helped put together a
great team at Caldor. However, we respect his decision and wish him
well in the future."
Mr. Balmuth said: "After nine years, I have decided not to renew
my contract, for personal reasons. I have tremendous respect for
the organization and management at Caldor and will miss them. I am
fully committed to working with the Company through August to ensure
a smooth transition. After that I plan to take some time off with
Mr. Balmuth, 48, joined the Company as President in 1987. In
addition, he has served as a member of the Board of Directors since
1989. From 1985 to 1987 he was Executive Vice President for Venture
The Caldor Corporation is the fourth largest discount department
store chain in the U.S., with annual sales of approximately $2.8
billion. It operates 166 stores in ten East Coast states. With a
strong consumer franchise in high-density urban/suburban markets,
Caldor offers a diverse merchandise selection, including both
softline and hardline products.
CONTACT: Kekst and Company,
Wendi Kopsick/Jim Fingeroth
David D. Peterson,