Printer Friendly

SERVISTAR UNVEILS NEW CORPORATE DIRECTION

 Strategy Will Enable Hardware, Lumber, Homecenter Retailers
 to be More Competitive
 BUTLER, Pa., March 17 /PRNewswire/ -- SERVISTAR has initiated "Everyday Value Pricing," a major strategic change in the company's corporate direction, it was announced by Paul E. Pentz, president and chief executive officer.
 "The health and profitability of our SERVISTAR retailers' businesses is our primary concern as we plan for the future," said Pentz. "Improving our systems and cost structures are necessary for our retailers to grow and in some cases, survive, in an increasingly competitive arena."
 In keeping with SERVISTAR's philosophy of focusing on that which is best for the retailer, SERVISTAR has begun the process of reducing wholesale prices as well as providing more directed guidance of suggested retail prices to SERVISTAR retailers.
 The objectives of "Everyday Value Pricing" are to:
 -- Increase retail sales and productivity;
 -- Simplify buying from SERVISTAR to give retailers more time to focus on in-store selling; and
 -- Improve productivity of SERVISTAR retailers.
 Specifically, the changes to SERVISTAR's marketing programs include the reduction of warehouse pricing to provide SERVISTAR retailers with realistic retail pricing; offering a complete assortment of a supplier's line in SERVISTAR's distribution centers; and focusing the promotional program on only the preferred vendors.
 "This program represents an aggressive strategy so comprehensive that it will take 12 months to roll it out through all product departments," said Pentz.
 Five vendors were chosen to pilot the "Everyday Value Pricing" program. They are: Makita power tools; Cooper Group hand tools; DAP caulking and paint sundries; Rustoleum paint; and Minwax stains.
 Electrical and plumbing products will be offered at SERVISTAR's May 1993 Spring Convention. The remaining product categories will be rolled out gradually through the year and completed by the Spring 1994 Convention.
 Pentz believes the program dramatically will improve SERVISTAR retailers' efficiency and customer service capability. "We encourage the SERVISTAR retailer to pass on savings to their customers and be more competitive in their markets," he said.
 SERVISTAR, headquartered in Butler, is a $1.4 billion member-owned wholesaler with more than 4,000 hardware, lumber and home center member stores worldwide. The company also operates as SERVISTAR/Coast to Coast, Inc., Grand Rental Station and Home and Garden Showplace retail stores.
 -0- 3/17/93
 /CONTACT: Paul E. Pentz, president and chief executive officer of SERVISTAR, 412-284-6106; or Lynn Rubenson of MARC PR, 412-562-2066, for SERVISTAR/


CO: SERVISTAR ST: Pennsylvania IN: RET SU:

CD-KC -- PG006 -- 7089 03/17/93 14:34 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 17, 1993
Words:407
Previous Article:HYAL ANNOUNCES ITS FIRST PHASE III CLINICAL TRIAL FOR INJECTABLE, INTRAVENOUS PAIN PRODUCT ALL LEAD PRODUCTS NOW IN PHASE III
Next Article:MORIARTY REPORT ON BAD MATTRESSES RESULTS IN INDUSTRY STUDY
Topics:


Related Articles
1,000 LOCAL STUDENTS WIN FIRST ROUND OF NATIONAL AWARDS PROGRAM TO HONOR VOCATIONAL EDUCATION
STATE WINNERS HONORED AS TOP VOCATIONAL STUDENTS; TEN NATIONAL WINNERS TO BE SELECTED
SUPER BOWL QB JIM KELLY, STEELERS COACH BILL COWHER, AND BASKETBALL GLOBETROTTER LEGEND CURLY NEAL ON THE LINKS
JIM KELLY, TOM DONAHOE AND CURLY NEAL TAKE TO LINKS FOR SPINAL CORD SOCIETY FUND RAISER
True Value and Servistar Coast to Coast Propose Merger of Wholesalers; New $4.5 Billion Cooperative to be Largest in the World
True Value and Servistar Coast to Coast Retailers Approve Wholesaler Merger
Fur Balls, Friendly Parrots, Floral Bouquets and Fast Repairs -- True Stories Behind True Value's Reputation for Great Service
TRUSERV TACKLES CHALLENGES OF CHANGE.
TruServ Announces Restructuring, Major Initiatives as Part of Successful Culmination of True Value, ServiStar and Coast to Coast Merger.
TruServ and True Value Name Kuhr New CFO.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters