Indy 500 Overnight Best Since '11 Classified Advertisements Texas Unveils New Ticket Upgrade Website New Houston AD Yurachek Settling In Executive Transactions Indy 500 Delivers In Big Way For Series Date Of San Diego Stadium Vote Important Bears Cut Ray McDonald After Second Arrest NFL Analyzing Possible L.A. Relocation Fee Coca-Cola Re-Signs With SMI Through '20
JumboSports Chair & CEO Stephen Bebis "resigned Monday after failing to lead the money-losing sporting goods chain to a promised turnaround," according to Kris Hundley of the ST. PETERSBURG TIMES. Jack Bush, a retail consultant and member of JumboSports' Board of Directors, will replace Bebis. Additionally, CFO Ray Springer has been promoted to acting President & COO (ST. PETERSBURG TIMES, 12/9). DETAILS: The 85-store chain's "management upheaval" comes five days after it reported a 3Q loss of $45.8M and announced plans to "pull out of" the Atlanta, Houston and Detroit markets. Also, third quarter sales in stores that have been open more than a year were down 5.4%. Bebis, who joined JumboSports in early '96, could not be reached for comment. The company's release did not offer details on his future plans (ST. PETERSBURG TIMES, 12/9). ANY REMEDY? In Tampa, Aissatou Sidime reports that Springer plans to "fine tune" the merchandise in the company's stores and "increase marketing." Springer said that he "expects to end the year with a total sales increase", but that sales at stores open more than a year "will probably fall" (TAMPA TRIBUNE, 12/9).