Industry Updates: Discount and Specialty Stores – April 2014
Advance Auto Parts, Inc. announced the appointment of Geno Coradini as VP, Real Estate. Mr. Coradini will lead the Real Estate Function including Lease Administration, Real Estate Development, Construction, Store Planning and Design, Facilities and real estate research
Family Dollar has named Brian D. Hancock as Senior VP of Supply Chain.
Hhgregg Exec VP and COO Gregg W. Throgmartin has resigned his position and spot on the company’s board of directors. Throgmartin is leaving to pursue outside interests and manage family businesses. The board announced that it will commence a search for a new chief operating officer. In the interim, other operations officers of the company will step in to fill the role.
Hallmark CardsInc. announced the hiring of John X. Watson, as President of the Gold Crown division. Watson replaces Jack Moore, who is retiring after leading the Gold Crown stores for the last five years.
Liquor Stores N.A. Ltd. announced important additions to its senior management team: with the addition of four Senior Vice Presidents, each of whom brings highly specialized U.S. retail expertise to the company.
- Erika Cobb has joined Liquor Stores as Senior VP Information Technology.
- Jason Fremstad has been appointed Senior VP, GMM.
- Was with Walmart
- Lieske Renz joined the company as Senior VP Human Resources.
- Steve Rop has been appointed Senior VP, Supply Chain, Logistics and Planning.
Liquor Stores N.A. Ltd. announced the appointment of Mr. David Gordey, as the Company’s Senior VP and CFO. He replaces Patrick de Grace, who departed the company for personal reasons.
Office Depot announced the hiring of Juliet Johansson as its new Exec VP and Chief Strategy Officer.
Office Depot has named Troy Rice as Exec VP of Retail as the company continues to build out its senior leadership team in the wake of its merger with OfficeMax. Rice spent the past eight years with Toys “R” Us, most recently serving as Exec VP Stores and Services.
PetSmart is making changes to its management team and organizational structure in conjunction with the retirement of president and COO Joseph O’Leary.
- Assuming the role of president will be current CEO David Lenhardt.
- PetSmart does not intend to replace the COO position and will realign these responsibilities among four newly created Exec VP positions.
- Carrie Teffner, who was Senior VP of Finance and CFO, will now serve as Exec VP and CFO with responsibilities for overseeing finance and IS. The new CIO will report directly to Teffner.
- Matt McAdam, who was Senior VP of merchandising, will now serve as Exec VP of Merchandising and Real Estate.
- Bruce Thorn, who was Senior VP of store operations and services, will now serve as Exec VP of Store Operations, Services and Supply Chain.
- The company is embarking on an external search to fill the fourth newly created position — Exec VP of Customer Experience, Strategic Planning and Corporate Development. The new hire will focus on developing strategies for creating an unmatched customer experience, in stores and online, and on developing organic and adjacent growth strategies across all platforms. Marketing, strategic planning and corporate development will report to the new Exec VP. PetSmart will also be conducting a search for a new CIO to replace Don Beaver, who is also retiring.
- All four Exec VPs will report directly to Lenhardt.
Restoration Hardware Holdings, Inc. announced that Doug Diemoz has joined the Company as Chief Development Officer. In this newly created position, Mr. Diemoz will be responsible for developing and leading the Company’s future international growth and global expansion efforts. In addition, Mr. Diemoz will also be responsible for the development and management of emerging new businesses.
Tiffany & Co. has appointed Ralph Nicoletti as its next EVP and CFO. He steps into the CFO role following current COO and CFO James N. Fernandez’s plans to retire in July.
Walmart announced that Labeed Diab has been named Senior VP and President of Health and Wellness at, filling a position previously held by Dr. John Agwunobi, who left the company.
Amazon announced that annual net sales increased 22% to $74.45 billion, compared with $61.09 billion in 2012.
Best Buy Co., Inc. announced results for the 52-week year ended February 1, 2014, as compared to the 53-week year ended February 2, 2013. Annual revenues as of February 1, 2014 were reported at $42.4 billion, down from an adjusted figure of $43.9 billion for the previous fiscal year. Last year Best Buy actually reported annual revenues at$49.6 billion.
Books-A-Million announced that sales for the fiscal year ending February 1, 2014 had dropped to $470.3 billion.
Conn’s, Inc. announced financial results for the quarter and fiscal year ended Jan. 31, 2014. Full-year fiscal 2014 consolidated revenues increased 38.0% to $1.19 billion.
Dollar General Corporation reported record sales for its fiscal 2013 full year (52 weeks) ended January 31, 2014. Full year 2013 net sales increased 9.2 percent to $17.5 billion compared to net sales of $16.0 billion in 2012.
Five Below, Inc. announced financial results for the fifty-two weeks ended February 1, 2014. Net sales rose to $535.4 million for the fifty two week year, up from $419.8 for the previous fifty three weeks.
Fred’s, Inc. reported financial results for the 52 week fiscal year ended February 1,2014, versus the 53 week period last year. Fred’s total sales for 52 week fiscal 2013 were $1.939 billion versus $1.955 billion for the 53 week fiscal 2012.
GameStop Corp. reported sales and earnings for the fiscal year ended Feb. 1, 2014. For fiscal year 2013, total global sales were $9.04 billion, a 1.7% increase compared to $8.89 billion in fiscal 2012.
Gordmans Stores, Inc., announced results for its fiscal year (fifty-two weeks) ended February 1, 2014. Net sales increased 3.0% to $619.6 million compared to $601.4 million in the fifty-two weeks ended January 26, 2013 (2.0% increase compared to fifty-three week fiscal 2012).
Hallmark Cards Inc. saw its 2013 consolidated revenue decline 2 percent to $3.69 billion.
HomeGoods announced that net sales for the fiscal year ending February 1, 2014 rose to $2.99 billion from $2.66 billion for the previous year.
Liquor Stores N.A. Ltd. reported annual financial results for the year ended December 31, 2013. Annual sales increased 4.9% to $661.0 million.
Netflix reported annual revenues for fiscal 2013. The company reported revenues of $4.37 billion up from $3.61 billion from the previous year.
The North West Company Inc. reported its financial results for the fiscal year ended January 31, 2014. Annual sales increased to $1.543 billion from $$1.514 billion from the previous year.
Overstock.com reported fiscal year 2013 revenues of $1,304billion vs. $1,099 billion from 2012, a 19% increase.
QVC announced that annual net revenues for fiscal 2013 reached $8.623 billion, up from $8.516 billion for 2012.
Redbox announced an annual revenue increase to $1.97 billion from $1.91 billion.
Restoration Hardware Holdings, Inc. announced financial results for the fiscal year ended February 1, 2014. Net revenues for fiscal 2013 increased 30% to $1.551 billion from $1.193 billion in fiscal 2012. Excluding the additional week in fiscal 2012, net revenues increased 33% in fiscal 2013 on top of a 22% increase in net revenues for fiscal 2012.
Sam’s Club announced that annual sales for the fiscal year ending January 31, 2014, had increased to $57.2 billion up from $56.4 billion.
Tiffany & Co. reported that during the fiscal year ending January 31, 2014, net sales rose 5% to $4 billion from $3.8 billion and same-store sales improved 6%.
Toys“R”Us, Inc. reported financial results for the full year of fiscal 2013 ended February 1, 2014. Net sales were $12.5 billion, a decrease of $1.0 billion or 7.4% compared to the prior year.
ValueVision Media, Inc., the multichannel electronic retailer operating as ShopHQ, announced operating results for its fiscal 2013 year ended February 1, 2014. Annual net sales came in at $640.5 million up from $586.8 million for the previous year.
Walmart Corporate, which includes Walmart US, Sam’s Club and Walmart International, announced that annual sales for the fiscal year ending January 31, 2014, had increased to $473.1 billion.
Walmart US announced that annual sales for the fiscal year ending January 31, 2014, had increased to $279.4 billion up from $274.4 billion.
West Marine, Inc. reported financial results for the fiscal year ended December 28, 2013. Net revenues were $663.2 million, a decrease of 1.8% compared to last year.
Conn’s announced that for fiscal year 2015, the company projects new store openings of 15 to 20;
Gordmans Stores, Inc., plans to open seven new stores in 2014 and will close two to three existing stores.