Liquor Stores N.A. Strengthens Senior Management Team
Advances Key Initiative in Company's Seven-Point Plan to Enhance
EDMONTON, ALBERTA -- (Marketwired) -- 03/20/14 -- Liquor Stores N.A.
Ltd. (the "Company" or "Liquor Stores") (TSX:LIQ), North America's
largest publicly traded liquor retailer, today announced important
additions to its senior management team.
As reported on March 6, 2014, Liquor Stores has initiated a
seven-point plan (the "Plan"), designed to build on the Company's
strong operating platform and drive long-term growth in
profitability. Enhancing the senior leadership team was highlighted
as a key element of the Plan. In fulfillment of that commitment, the
Company today announced the addition of four Senior Vice Presidents,
each of whom brings highly specialized U.S. retail expertise to the
Company. To support the new U.S. based management team members in
advancing their mandates, Liquor Stores is consolidating its U.S.
support operations, currently located in Lexington, Kentucky and
Anchorage, Alaska, into a new office in Louisville, Kentucky.
-- Erika Cobb joined Liquor Stores as Senior Vice President, Information
Technology, with a mandate to rebuild and lead the turnaround of the
Company's IT department, including setting the IT vision, cutting edge
and forward thinking strategies. Erika was most recently with Save-A-Lot
Foods, a subsidiary of SuperValu Inc., where she served as Vice
President, Information Technology. In that role, she was responsible for
the technology planning, implementation and support for 1300 stores, 17
distribution centres and the corporate office. She led a team of 100
solution design/developers, retail support staff, quality assurance and
business intelligence analysts, in servicing more than four million
-- Jason Fremstad has been appointed Senior Vice President, General
Merchandise Management, with responsibility for leading the Company's
merchandising strategy including buying, pricing, product placement and
promotion. Jason joins Liquor Stores with a wealth of industry knowledge
gained as Director, Wine and Spirits at Wal-Mart. His experience with
Wal-Mart also included roles as Senior Wine Buyer and Buyer at Sam's
Club. Prior to joining Wal-Mart, Jason held several progressive
positions within the restaurant industry where he was responsible for
the development of several wine and spirits programs. Jason was honoured
with the 2013 Market Watch Leaders Award in Wine and Spirits.
-- Lieske Renz joined the Company as Senior Vice President, Human
Resources. Her mandate is to provide leadership and coordination of
company-wide Human Resources functions and develop and implement
corporate Human Resources strategy and programs. Lieske was most
recently with YUM Restaurants International (YRI) where she served as
Senior Director, Human Resources. YRI manages KFC, Pizza Hut and Taco
Bell in 123 countries via 20 business units comprised of both franchise
and corporate ownership models, representing more than 14,000
restaurants and 350,000 employees. Prior to joining YUM, Lieske held
several progressive positions for Swissotel Management Corporation,
Sheraton Premiere, and the Ritz Carlton.
-- Steve Rop has been appointed Senior Vice President, Supply Chain,
Logistics and Planning, with the responsibility to review and refine the
Company's logistics, supply chain as well as planning infrastructure.
Steve joins Liquor Stores from Liquidity Services Inc. (LSI), where he
most recently served as Vice President, Client Services and Business
Development. In that role, Steve was responsible for designing,
implementing and managing transformative supply chain and operational
improvement solutions for Fortune 500 companies. Prior to joining LSI,
Steve gained valuable industry experience as Director of Global Supply
Chain for Total Wine and More.
"A strong company and corporate culture begins with the right
leadership team, and I am delighted to welcome Erika, Jason, Lieske
and Steve to Liquor Stores," said Stephen Bebis, President and CEO of
the Company. "With a wealth of experience in sophisticated and
complex U.S. retail business environments, including some direct
experience in liquor retailing, their expertise will be critical in
advancing the remaining initiatives in our seven-point plan. Working
out of our new U.S. offices in Louisville, and from our corporate
headquarters in Edmonton, they will lead the implementation of
refined business processes, systems and strategies to optimize and
scale Liquor Stores' existing platform and support the future growth
of our enterprise in our existing markets and new markets, primarily
in the United States."
ABOUT LIQUOR STORES N.A. LTD.
The Company operates 245 retail liquor stores in Alberta, British
Columbia, Alaska and Kentucky. Liquor Stores' retail brands include:
Liquor Depot, Liquor Barn, and Wine and Beyond in Alberta (175
stores); Liquor Depot and Liquor Barn in British Columbia (36
stores); Brown Jug in Alaska (22 stores); and Liquor Barn "The
Ultimate Party Source" and Liquor Barn Express in Kentucky (12
stores). The Company's common shares and convertible subordinated
debentures trade on the Toronto Stock Exchange under the symbols
"LIQ" and "LIQ.DB.A", respectively.
Additional information about Liquor Stores N.A. Ltd. is available at
www.sedar.com and the Company's website at www.liquorstoresna.com.
FORWARD LOOKING STATEMENTS
In the interest of providing current shareholders and potential
investors with information regarding current results and future
prospects, this release may contain forward-looking statements about
the Company's objectives, plans, goals, aspirations, strategies,
financial condition, results of operations, cash flows, performance,
prospects and opportunities. All statements and information other
than statements of historical fact contained in this release are
forward-looking statements, including, without limitation, statements
regarding the future financial position and performance of the
Company, business strategies, costs, as well as plans and objectives
of or involving the Company. Forward-looking statements are typically
identified by words such as "believe", "expect", "will", "intend",
"project", "anticipate", "estimate", "continue", "forecast", "could",
"goal", "foresee", "seek", "strive", "may", "should" and similar
expressions or the negatives thereof, as they relate to the Company
and its Management. These forward-looking statements include, but are
not limited to, statements with respect to the future payment and
timing of the payment of the Company's dividends, the anticipated
opening dates of new stores, and Management's general expectations
that the Company will have sufficient funds to complete store
acquisitions, develop new stores and finance inventory.
Forward-looking statements reflect the Company's current plans,
intentions, and expectations, which are based on Management's
perception of historical trends, current conditions and expected
future developments, as well as other factors it believes are
appropriate in the circumstances. The Company's plans, intentions,
and expectations are inherently subject to significant business,
economic, competitive and other uncertainties and contingencies
regarding future events and as such, are subject to change. There is
no assurance that the plans, intentions, or expectations upon which
these forward-looking statements are based will occur and such
forward-looking statements included in this release should not be
unduly relied upon.
Forward-looking statements are subject to risks, uncertainties and
assumptions, including, but not limited to, those discussed under
"Risk Factors" in the Company's MD&A for the three months and year
ended December 31, 2013. Other risks and uncertainties not presently
known to the Company or that Management presently believes are not
material could also cause actual results or events to differ
materially from those expressed in its forward-looking statements.
The forward-looking statements contained herein are expressly
qualified in their entirety by this cautionary statement. The
forward-looking statements included in this release are made as of
the date of this release and the Company assumes no obligation to
update or revise them to reflect new events or circumstances except
as expressly required by applicable securities law.
Liquor Stores N.A. Ltd.
Patrick de Grace, CA
Senior Vice President and Chief Financial Officer
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