Broad-line retailer Alco’s shareholders have replaced the company’s board of directors with seven new members, effective immediately. The elections were made at the company’s annual meeting of stockholders in Dallas late last week.
Alco is developing a strategy to improve profitability and deliver shareholder value, following a growing net loss during the third quarter of fiscal 2014, compared to the same period in the prior year.
Lingering winter weather conditions affected broad-line retailer Alco, which reported same-store sales of $112.4 million for the first quarter ended May 5, a 2.2% decrease from $115 million for the same quarter a year ago.
GE Home & Business Solutions announced that Maryrose Sylvester has been named president and CEO of GE Lighting, a global industry leader in lighting, systems and services for commercial, industrial and residential use.