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Frank brings a fresh perspective from more than 20 years of experience developing strategic business plans and executing hard-hitting marketing strategies and retail operations across leading retail brands. He joins Spence from Tailored Brands Inc (TBI), where he was EVP and CMO, overseeing the entire brand and integrated marketing function for the 1500-store retail chain across the U.S and Canada.
"Frank brings with him a proven track record for driving traffic, increasing brand engagement and enhancing customer loyalty," said Eric Lindberg, executive chairman, Spence Diamonds. "His experience and leadership are what Spence needs as we continue to invest in growth, expanding locations across the U.S and Canada."
The cost of buying the Jean Coutu Group was high but the pill wasn’t too difficult to swallow because it will generate a good return on the investment, Metro Inc. chief executive Eric La Fleche said Monday.
“Yes, the price was not ‘cheap,’ but it was justified and the potential is there,” he said after speaking to the Canadian Club of Montreal.
The Quebec-based grocer officially purchased the chain of pharmacies Friday with the closing of the $4.5-billion transaction announced last October.
This marriage between two Quebec retail jewels is expected to generate annual sales of about $16 billion from the operation of more than 1,300 supermarkets and pharmacies in Quebec, Ontario and New Brunswick.
Cost savings from the deal are estimated at $75 million over the next three years...