Tony Altizer recently left his position at chief brand officer at Mapco Express just a few months after joining the convenience store chain. Altizer, who joined Mapco from Shell's retail marketing group and before that was president of Jiffy Lube International, is now running fast casual chain Elevation Burger. COO Tony Miller tells CSP Daily News' Steve Holtz that Altizer's departure changes nothing in terms of Mapco's strategy.
"We are focused on growing our new-to-the-industry stores, which are 5,000 square feet with a significant emphasis on foodservice" Miller said. “There is no change in that. We are staying very consistent with our strategy."
To help, the chain hired—prior to Altizer exiting the company—Andy Scoggins, vice president of foodservice, with 18 years of experience in fast-casual dining at the Ruby Tuesday chain. He is currently on-boarding at Mapco and evaluating the current foodservice offer.
A trio of Acadia Healthcare insiders and one of Delek US Holdings' top executives last week joined other local insiders in booking some profits from their holdings.
Making the biggest move at Acadia Healthcare was director and Executive Vice Chairman Bruce Shear, who over the course of Wednesday, Thursday and Friday sold about 38,000 shares, grossing more than $1.7 million. COO Ron Fincher, meanwhile, unloaded almost 7,800 of his shares for more than $360,000. Fincher, who helped build Psychiatric Solutions before stepping into Acadia with CEO Joey Jacobs and a handful of other executives three years ago, still owns more than 123,000 Acadia shares. And finally, director William Grieco sold 5,000 shares over two days — he still owns more than 36,000 — and pocketed more than $230,000.
The Acadia insiders' sales come at the end of a month in which the shares (Ticker: ACHC) slid about 10 percent to about $46. But the 14 analysts following the Franklin-based company foresee them climbing back into the mid-$50s in the coming quarters.
Up Interstate 65 a few miles at Delek, CFO Assi Ginzburg trimmed his holdings in the oil refining and marketing company by almost a third on Friday. Ginzburg added $955,000 to his bank account balance after selling 31,000 shares of Delek, which has rebounded a bit of late (Ticker: DK) after sliding from $34 to below $27 in the first nine weeks of 2014.
CSPnet.com's Steve Holtz has touched base with the team at Mapco Express, which was fortified before the end of 2013 through the addition of Rick Altizer as chief brand officer. Altizer joined Brentwood-based Mapco, a unit of Delek US Holdings, from Shell, where he had been GM of its North American retail marketing arm. He has been president of Jiffy Lube International and more than a decade ago was the Nashville regional manager for McDonald's.
“The new-store portfolio and the food offer are my two main strategic priorities,” Altizer, who also has 14 years of experience with McDonald’s Corp., told CSP Daily News. “We’ve been really successful with our private-label products and our rewards program, so the area where we need some strategic focus is on structurally improving the quality and consistency of the customer experience at retail on the prepared-food side.”
Deutsche Bank analyst Paul Trussell says investors shouldn't run from Dollar General and Dollar Tree, which have given up 5 percent and 9 percent, respectively, so far this year. The shorter holiday season and bouts of severe weather will be digested soon enough, he says, and the longer-term positives will again become more apparent. Trussell has raised his price target for shares of Goodlettsville-based Dollar General to $68 from $60. The stock (Ticker: DG) closed Tuesday at $57 and change.
Over at Credit Suisse, Edward Westlake has lowered his rating on shares of Delek US Holdings to 'neutral' from 'outperform' and set his new target at $36. Westlake's reasoning centers both on valuation — as did Cory Garcia at Raymond James last week — and his thinking that the margins on Delek's products will come under pressure this year. Delek (Ticker: DK) closed Tuesday at $29.52.