Bloom succeeds R. James Kelly, who is retiring after 15 years with the company. Bloom’s appointment “reflects the result of several years of thoughtful discussion and planning as we prepared for Jim’s retirement,” said Family Dollar chairman and chief executive officer Howard Levine. “We are pursuing an ambitious growth agenda to expand our market share and drive greater financial returns, and these leadership changes ensure that we have a strong management team in place to execute our plans.”
Bloom began his 20-year career with CVS in store operations and progressed through a number of positions with increasing responsibility, including category manager, vice president of consumer health care and senior vice president of merchandising. Before joining the company he spent 10 years as a manager/executive with Virginia-based Peoples Drug Stores and the Florida division of Toronto-based Shoppers Drug Mart. He began his career at Woolco in 1979.
“A highly respected leader in the industry, Mike is a great addition to our team,” said Levine. “With more than 30 years of operational experience in small-box retailing, he is a seasoned merchant with a proven track record of leading high-performing teams and delivering results. In addition to being a strong leader, Mike is passionate about customers and driving their loyalty. In his new role Mike will have responsibility for major operational functions, including store operations, merchandising, marketing, global sourcing and supply chain.”
Bloom is credited with taking CVS/pharmacy’s business to new levels in both product innovation and sales. He demanded that the chain’s front-end categories — especially general merchandise segments— were imaginatively selected and that the entire mix was compellingly and creatively merchandised and promoted.
As a merchant, Bloom ramped up CVS’ Private Brands four years ahead of the recession, bringing new luster, sales and importance to the chain’s Private Brand offering. “I understand that our emphasis on private label isn’t always popular with the supplier community,” he said. “But it was the right move at the right time for our company — and, more importantly, for our customers.”
Bloom joins a very strong executive team that includes Dorlisa Flur who was also promoted to vice chair of strategy and chief administrative officer. She had been executive vice president and chief merchandising officer.