Fred’s, Inc. has named Michael K. Bloom as the company’s president and chief operating officer. Most recently, he served as the president and COO of Family Dollar Stores, Inc.
Fred’s chairman Michael Hayes stated, “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. The hiring of Mike Bloom as president and chief operating officer and the recent naming of a new CEO 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.”
Jerry Shore, the retailer’s CEO, added, “Mike Bloom is a proven leader in our industry with a track record for delivering strong results. He brings to the Fred’s team expertise in both discount and chain drug retailing that touches on all key areas of our business. 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. As president and COO, Mike will have responsibility for major operational areas, including general merchandising, marketing, store operations, and supply chain management.”
Bloom brings to Fred’s more than 30 years of experience in small-box general merchandising, supply chain management and store operations, noted the retailer. Prior to Family Dollar, Bloom spent more than 20 years with CVS Caremark Corporation, holding a variety of positions in merchandising and operations, rising to evp/merchandising, marketing, advertising and supply chain.