Dive Brief:
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Memphis, TN-based general merchandise discount chain Fred’s Super Dollar this week announced that former Walgreens merchandising chief Bryan Pugh will join the company as chief merchandising and marketing officer. Craig Barnes was promoted to EVP of supply chain, global and domestic logistics, and Mike Holligan, formerly district manager and regional VP of store operations, was promoted to EVP store operations.
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The company also announced the acquisition of Nashville-based specialty pharmacy chain Reeves-Sain Drug Store for $66 million.
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Fred’s Super Dollar operates 661 stores, including 19 franchised stores, in the southeastern United States.
Dive Insight:
The discount-store scene is getting shook up — by an improving economy that means fewer people may visit to “dollar stores” for items and by consolidation in the industry as the Family Dollar-Dollar Tree merger proceeds.
Small regional chains like Fred’s Super Dollar don’t have the luxury of inefficiencies if they’re going to survive in the new dollar store world and must seek out ways to grow. Holligan, notably, has a reputation for garnering savings in labor and the supply chain, and Pugh comes from the big leagues. Fred’s appears to be on it.
