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Our March 25 keynote speaker is best known for turning Trader Joe’s from a 27-store group of quirky convenience stores in Southern California into a national chain that inspires fierce loyalty among its customers and employees alike. TJ’s, as shoppers call it, sells a continually changing array of specialty foods, cheeses and wines, mostly under its own label (most famously its Charles Shaw wines, dubbed “Two Buck Chuck.”) The chain, owned by a privately-held European firm, generates revenues in the billions. Its sales per square foot easily outdistance those of conventional supermarkets. John took the CEO’s post at TJ’s five weeks into his retirement. He had built the Mervyn’s Department Store chain from 36 to 175 stores in nine years, and in 1989 was ready to relax. But Joe Coulombe, his fraternity brother when they were at Stanford University, asked for his help. Coulombe had developed the Trader Joe’s concept, but felt Shields could move the company toward its potential. As Chairman and CEO, John oversaw the expansion of TJ’s from 27 stores to 174, in most major cities across the country. Annual sales grew from $127 million when John joined the company to $2 billion when he retired for the second time in 2001. Today there are more than 350 Trader Joe’s stores in 22 states, all run by managers trained and promoted from within, with sales of over $7 billion. John has been honored for his business leadership by Inc. Magazine, Ernst & Young and Merrill Lynch. He lectures at Pepperdine University's Graziadio Graduate School of Business, and speaks regularly at other schools and business conferences. John received his BA in European History from Stanford University in 1954. In 1956 he received his MBA from Stanford's Graduate School of Business. For the next two years he served as an officer in the U.S. Army. In 1958 he joined Macy's California (now MACY'S WEST) as an executive trainee. During the next 14 years he was promoted to buying, store management and operations' positions. In 1972 he was promoted to Senior Vice President of Operations. In 1978 he joined Mervyn's as Vice President of Operations. During the next 9 years Mervyn's sales increased from $400,000 a year to $2.7B, and it grew from 36 stores to 175. John retired in 1987. Within a few months he was back at work as President of Trader Joe's Company, a small Southern California company. In 1989 he became Chairman and CEO of Trader Joe's until he retired in 2001. During his stint Trader Joe's grew from 27 stores to 174, and sales grew from $127M to $2B a year. As of 2008 sales are over $7B a year, and the company operates over 350 stores in 22 states. |
