Fred's names former Family Dollar president as COO

Fred's has named Michael Bloom to the role of president and COO, effective Jan. 12. He brings 30 years of small-box general merchandising, supply chain management and store operations experience to the company, and most recently served in the same role for Family Dollar Stores.

"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," Chairman Michael Hayes said in a statement. "The hiring of Mike Bloom as president and COO 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."

Bloom left Family Dollar in 2013, before the discount chain became embroiled in competing buyout bids from Dollar General and Dollar Tree. Before his time with Family Dollar, Bloom spent 20 years with CVS Caremark Corporation in various merchandising and operations positions, eventually being named executive VP of merchandising, marketing, advertising and supply chain. Press release