Almost exactly one year after resigning from Family Dollar Stores, Mike Bloom has landed a new job.
The former president and chief operating officer of Family Dollar assumes the same title at Fred’s Inc., a Memphis-based discount general merchandise chain with 661 stores in the Southeastern U.S., including more than 320 with pharmacies. He assumed his new role on Monday.
Bloom is considered a good fit for the rapidly growing chain thanks to his 30 years of experience including his two years plus at Family Dollar, but more importantly his 20 years at CVS. During his career at CVS, Bloom rose through the ranks to executive vice president merchandising, marketing, advertising and supply chain. He also spent more than 10 years with Peoples Drug.
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“The hiring of Mike Bloom as president and coo and the recent naming of a new chief executive officer and a new general merchandise manager form the nucleus of a team that will bring greater innovation, improved strategic execution and renewed dedication to drive growth for Fred’s for many years to come,” said Fred’s chairman Michael J. Hayes. “Our Board of Directors views this senior management addition as an important step in the process of developing the Fred’s team of the future.”
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Added Jerry A. Shore, ceo, “Mike Bloom is a proven leader in our industry with a track record for delivering strong results. His extensive knowledge and experience in merchandising, operations and supply chain strategies will provide leadership to improve processes and drive customer traffic in our stores.” He said Bloom will have responsibility for major operational areas, including general merchandising, marketing, store operations and supply chain management.
This could signal Fred’s broader expansion into beauty, a category Bloom knows well and cultivated at Family Dollar. “He brought in a lot of major brands to Family Dollar. Fred’s already has a nice business to build off of,” said one vendor. Bloom left Family Dollar after he and chairman and ceo Harold Levine were “not aligned” on merchandising strategies, according Levine. Family Dollar remains engaged in a battle between Dollar General and Dollar Tree for rights to take over Family Dollar.