Date: Fri, 19 Dec 1997 19:56:35 GMT
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Pamida
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Company Overview
- Pamida is a mass merchandise retailer operating 150 stores in 15
Midwestern, North Central and Rocky Mountain states.
- Founded in 1963, Pamida has been operating stores in rural America for
over 33 years.
- Fiscal 1997 fourth quarter sales were $193.6 million.
- Pamida's ownership history includes and ESOP, completed in 1981, a reverse
ESOP/LBO in 1986 and a public equity offering in 1990.
- The company restructured its debt in March 1993. This event greatly
improved Pamida's financial and operating flexibility. The restructuring and
subsequent revisions included a revolving credit facility of $95 million and a
senior subordinate note offering of $140 million due in 2003.
- A number of new merchandising, operations and finance executives joined
the Company from 1993 to 1995 as part of a management reorganization.
Operating Strategies
- Pamida's operating strategy is focused on small rural communities where it
can be the principal mass merchandise retailer.
- Approximately 23% of sales are derived from "Softlines" merchandise
(men's, women's and children's apparel, and jewelry and accessories), the
balance, or 77%, are derived from "Hardlines" merchandise (toys, home
furnishings, house wares, stationary, domestics, seasonal, etc.). Pamida's
long-term plan is to increase the apparel mix to 27% of total sales.
Additionally, the Company currently operates 41 in-store pharmacies.
- The Company opened eight new prototype stores, including two relocations,
during the fiscal year ended February 2, 1997.
- Pamida competes with both national and regional chains such as K-Mart,
Alco and Wal-Mart.
- The total number of stores facing direct competition has decreased from 81
stores or 45% of our markets four years ago to 29 stores or 19% today.
- Approximately 92% of the stores operate in markets with trade populations
of under 20,000.
PAMIDA BENEFIT PROGRAM
Major Medical Coverage Options
- Blue Cross/Blue Shield Customer Flex allows you to choose any doctor, clinic or hospital you prefer
for your medical needs (IL/IN/KS/KY/MI/MT/ND/SD/WI/WY)
- Blue Care Choice - HMO offers prepaid health care service. (OMAHA ONLY)
- PPC offers you an opportunity to reduce your out-of-pocket expense through the use of a preferred
provider network (IA/MN/NE/OH).
Dental Insurance
- Preventative Services - No Deductible
- Basic Services - $25 calendar year deductible
- 80% payment
- Coverage is effective the first of the month following six months of employment
Long Term Disability
- Benefits payable beginning on 91st day
- 60% of your monthly earnings
- Must work 30 or more hours/week
- Non-management effective first of the month following 90 days of employment
- Management effective first of the month following 30 days of employment
Optional Term Life Insurance
- May select amount based on one, two or three times basic annual earnings
- Must work 20 or more hours/week
- Non-management effective first of the month following 90 days of employment
- Management effective first of the month following 30 days of employment
Universal Life Insurance
- Available to regular and full-time employees who have completed 6 months of service
- Offered during annual enrollment period
Accidental Death and Dismemberment
- Each employee receives $1,000 of AD&D provided by Pamida
- Regular and full-time employees may purchase additional amounts
- Coverage effective on the first day of the month following hire date
Vacation
- Salaried professional positions accrue two weeks of vacation per year after their start date.
- For all other positions: One week of vacation is earned after one year, 2-6 years two weeks,
7-14 years three weeks, 15-19
years four weeks, 20 years + 5 weeks.
- If you are on leave of absence at the end of one year, the vacation accrued will not be credited
until you return from leave.
Sick Hours
- After one year of service, all active full-time employees are eligible for earned sick hours.
- After 1 year 1 week; 2-4 years 1-1/2 weeks; 5-6 years 2 weeks; 7 years and up - 3 weeks.
- Sick hours may be used for personal illness and medical attention as well as for an illness or health
condition of the employees spouse, parent, or children (see Pamida's Policy for definitions of these terms.)
Paid Holidays
Paid holidays observed are as follows:
- New Years Day
- Memorial Day
- Independence Day
- Labor Day
- Thanksgiving Day
- Christmas Day
- Birthday (after one year of service)
- One Personal Holiday upon 3rd and 4th year anniversary
- Two Personal holidays upon 5th year anniversary
All regular full-time and part-time employees who have been employed 90 days prior to the Holiday and
have worked their scheduled hours before and after the holiday receive this benefit.
Funeral Pay
- Absence due to a death in employee’s immediate family will be excused and paid up to a maximum of 3
business days.
- Absence of up to 1 day to attend a funeral of a relative not in the immediate family (as defined by Pamida policy) will be granted and
paid as an excused absence.
- Full and part-time employees are eligible immediately upon employment.
Jury Duty and Election Day
- You will be paid the difference between your jury duty or election pay and regular pay.
Savings Plan (401)K
- Eligible to participate after 1 year of service with 1,000 hours worked, provided you are at least 21
years of age.
- Pamida adds $.50 cents for each $1.00 you contribute on contributions up to 5% of your pre-tax
earnings, if you are an active employee on the plan year end data, which is January 31.
- Moneys may be invested in one or more of three investment funds.
Credit Union
- Eligible to participate in the First Nebraska Credit Union upon completion of 90 days of employment.
- A payroll deduction in the amount you choose will be automatically sent to the credit union.
Flexible Spending Accounts
- Two reimbursement plans are available - Medical and Dependent Care.
- Full and part-time employees with 3 months of service eligible.
- Annual enrollment period and you will be notified.
- Deduction are on a pre-tax basis which is a savings to you as an employee.
Purchases and Discounts
- 15% discount allowed on purchases, including clearance, sale-priced and promotional items, that are in
excess of $2. Some items are excluded from the discount.
Tuition Assistant Program
- Education that is directly related to a team members career path with Pamida.
- All full-time employees are eligible for tuition assistance after a minimum of one year of service.
- Pamida will pay 100% of the approved costs upon successful completion of the approved course.
Employee Assistant Program
Automated United Way Deductions
This outline of benefits is not an insurance certificate or an insurance policy. All employees enrolled in the
Medical Insurance Plan will receive a booklet outlining the benefits in greater detail. The exact contract
provisions will be contained in the booklet.
If you'd like to learn more about employment opportunities with
Pamida click on the email icon.
If you do not have a mail to: capable browser, you may direct your
email to
(pam_pr)jherbert@pamida.com
.