Industry Updates: Discount and Specialty Stores – April 2013
Advance Auto has named George Sherman President of the company as part of its effort to simplify company leadership. Most recently, Sherman served as Senior VP, Best Buy Services, which included leading the Geek Squad. Charles Tyson, who currently serves as Senior VP, Merchandising and Marketing, has been promoted to Exec VP, Merchandising, Marketing and Supply Chain. Jim Durkin, who currently serves as President, Autopart International (AI), will assume the new role of Senior VP Commercial Business. Tammy Finley, who most recently served as VP Employment Counsel and Government Affairs, has been promoted to the role of Senior VP Human Resources. As a result of these changes, Darren Jackson, President and CEO will continue to operate as the company’s Chief Executive Officer and will focus on strategic and leadership development. Additionally, the role of Chief Operating Officer, which is currently held by Kevin Freeland, has been eliminated. The role of Senior VP Commercial Sales and Marketing, which is currently held by Donna Broome, has also been eliminated.
AutoZone, Inc. announced that Albert “Al” Saltiel has joined the company as Senior Vice President, Marketing, Customer Satisfaction.
Best Buy co-founder and former chairman Richard Schulze announced that he is returning to the retailer as Chairman Emeritus, shortly after abandoning buyout possibilities of his former company. Schulze, who is Best Buy’s largest shareholder, is nominating two former Best Buy executives to join him on the board: former CEO Brad Anderson and former COO Al Lenzmeier.
Brookstone, Inc. announced that it has accepted the resignation of Stephen Bebis, its President and CEO and a member of the company’s Board of Directors. Effective upon Mr. Bebis’ resignation, James M. Speltz, the Company’s VP, COO has been appointed as the company’s new President and CEO. Mr. Bebis left the company after being appointed President and CEO of Liquor Stores N.A. Ltd in Canada.
The Craft and Hobby Association (CHA) announced the appointment of Kerri Wickersheim as VP of Marketing & Communications.
Family Dollar Stores has named Scott T. Zucker to the newly created position of Senior VP Merchandise Operations, charged with driving the strategy and execution of merchandise initiatives, category management, merchandise planning and replenishment.
Guitar Center announced that Mike Pratt has been appointed CEO and a member of the company’s board of directors. Since 2008, Pratt has served as president and COO of Canadian consumer electronics retailers Best Buy Canada and Future Shop.
Guitar Center, Inc., announced that Erick Mason, Exec VP and Chief Strategic Officer has resigned from his positions.
Office Depot Inc. announced that VP of Marketing, Michael Cooper has left the company to become Senior VP Marketing at Shopko.
Redbox has named Kiera Hynninen as its Senior VP Marketing and Pamela Smith as its Senior VP Finance.
Shopko announced that Michael Cooper has joined the company as Senior VP Marketing. Cooper joins Shopko from Office Depot Inc. where he was VP Marketing.
Walmart VP of Finance and Logistics Jerry Murray has left the company after seven years there.
Williams-Sonoma announced that Janet Hayes, currently the President of Pottery Barn Kids and PBteen, has become President of the Williams-Sonoma brand. She replaces Richard Harvey, who will be leaving the company on May 3, 2013, after 30 years of service. Sandra Stangl, President of Pottery Barn, will expand her role to include Pottery Barn Kids and PBteen.
Advance Auto Parts, Inc. announced its financial results for the fiscal year ended December 29, 2012. For fiscal 2012, total sales increased 0.6% to $6.21 billion, compared with total sales of $6.17 billion during fiscal 2011.
Bed Bath & Beyond Inc. reported net sales for fiscal 2012 were approximately $10.9 billion, an increase of approximately 14.9% from net sales of approximately $9.500 billion in the corresponding period a year ago (fifty-two weeks).
Books-A-Million reported that for the full year revenue rose 7.5% to $503.8 million.
Brookstone, Inc. announced that, for the fiscal year ended December 29, 2012, net sales increased 4.6% to $519.6 million and comp sales increased 4.5%.
Dollar General reported that for the full year 2012, net sales increased 8.2 percent to $16.02 billion compared to net sales of $14.81 billion in 2011. Excluding the impact of the 2011 53rd week, net sales increased 10.4 percent.
Five Below reported that for the full year revenue increased 41% to $418.8 million. The company said it expects to open 60 stores this year, including new markets in Texas, as well as adding units in existing markets.
Fred’s Inc. reported that for the year, profit was down 11% to $29.6 million. Revenue increased 4% to $1.96 billion.
GameStop Corp reported that for the fiscal year 2012, total global sales were $8.89 billion, a 7.0% decrease compared to $9.55 billion in fiscal 2011. Same-store sales declined 8.0%.
Gordmans Stores, Inc. announced results for its fourth quarter (fourteen weeks) and fiscal year (fifty-three weeks) ended February 2, 2013. Net sales for the fifty-three weeks ended February 2, 2013 increased 10.2% to $607.7 million from $551.5 million for the fifty-two weeks ended January 28, 2012.
Netflix posted annual sales for 2012 of $3.6 billion up from $3.2 billion for the previous year.
Office Depot, Inc. announced results for the full year ended December 29, 2012. Full year 2012 sales, were $10.7 billion, a decrease of 7% from the prior year.
OfficeMax announced the results for its full year ended December 29, 2012. Total sales were $6,920.4 million in the full year 2012, a decrease of 2.8% compared to the full year 2011,
O’Reilly Automotive, Inc. announced that Sales for the year ended December 31, 2012, increased $393 million, or 7%, to $6.18 billion from $5.79 billion for the same period one year ago.
Redbox announced that revenue for the fiscal year ended December 31, 2012 increased to $1.909 billion from $1.562 billion from the previous year.
Tiffany & Co. reported its financial results for the fiscal year ended January 31, 2013. Worldwide net sales increased 4% to $3.8 billion.
Toys “R” Us reported that its sales declined for the full fiscal year. For the full year, net sales were $13.5 billion, compared to $13.9 billion in the prior year.
Williams-Sonoma, Inc. announced that for fiscal year 2012, net revenues grew to $4.043 billion from $3.721 billion for fiscal year 2011.
Advance Auto Parts, Inc. expects to open 170 – 190 new stores for fiacal 2013, with 155 – 165 expected to be Advance Auto Parts stores and 10 – 15 expected to be Autopart International stores.
Dollar General announced that it would add 635 stores this fiscal year, including 20 of its Dollar General Market stores and 40 Dollar General Plus banners. In addition, the company said it will remodel or relocate 550 stores this year.
Five Below expects to open 60 stores this year, including new markets in Texas, as well as adding units in existing markets
Family Dollar Stores remains on track to open approximately 500 new stores in 2013 and close 30 to 50.
Jo-Ann Fabric and Craft Stores opened its 800th store in Slidell, La.
Leslie’s PoolMart plans to open 48 new stores this year between March and May. With these new stores and its recent acquisition of 24 Warehouse Pool Supply stores in the Houston area, Leslie’s will bring its total store count to more than 800 stores nationwide.
OfficeMaxannounced it has opened its new OfficeMax Business Solutions Center in downtown Milwaukee to serve the city’s business community. The new store format is OfficeMax’s first of its kind nationwide, offering 5,000 square feet of specially tailored business services, solutions and products delivered by expert associates to help local entrepreneurs grow their businesses.
OfficeMax expects to close between 5-10 stores during 2013.
O’Reilly Automotive, Inc. announced that the company plans 190 new openings for 2013.