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Article: Thrift-store mogul; Former Kmart exec uses expertise to pump up sales at St. Vincent de Paul outlets.(St. Vincent de Paul)(Ray Minton)(Kmart Holding Corp)
- Article from:
- Crain's Detroit Business
- Article date:
- June 20, 2005
- Author:
CopyrightCOPYRIGHT 2005 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Brent Snavely
Kmart veteran Ray Minton is using his 33 years of merchandising and finance experience to revamp the 10 thrift stores operated by Society of St. Vincent de Paul in the Archdiocese of Detroit.
Sales at the society's stores open at least a year had declined by about 17 percent a year, and the operations were losing money when Minton took over in November 2002. After his first year, sales at stores open at least a year increased by 5 percent, and this year the store operations are poised to break even or produce a surplus.
Under Minton's guidance, the society recently decided to close stores in Capac and Marysville and in ...