Personnel Updates:
Advance Auto Parts has announced the promotion of Markus Hockenson to Senior VP Store Operations.
The Army and Air Force Exchange Service, will for the first time in its 116-year history, name a civilian to the role of CEO/director on orders of the U.S. Department of Defense. Until such a person is named, COO Mike Howard will take over as acting CEO/Director as the organization’s board of directors seeks a permanent replacement.
Barnes & Noble announced that Michael Huseby has joined the company as CFO.
Best Buy CEO Brian Dunn resigned after 28 years with the consumer electronics chain and will also step down from the board of directors. The company called the resignation a “mutual agreement” and said board member Mike Mikan will take over as Interim CEO.
Best Buy announced that it has named Stephen Gillett to the role of Exec VP and President, Best Buy Digital and Global Business Services.
Books-A-Million had named a new CEO. Terrance Finley, who had filled the President and COO positions became President, CEO and COO. Chairman Clyde Anderson announced that while he would remain in the executive chairman role he was relinquishing his role as Interim CEO.
Crate and Barrel has announced it will promote its COO Sascha Bopp to CEO, taking over for Barbara Turf as she retires as President and CEO.
Additionally, Marta Calle, Director of the retailer’s CB2 brand, became President of the retail chain.
Dollar General has hired Greg Sparks as its Exec VP Store Operations.
Family Dollar Stores, Inc. announced that it has named Jon Broz to the position of VP and Assistant General Counsel, Litigation.
Family Dollar Stores, Inc. announced that it has named Mary A. Winston to the position of Exec VP and CFO. In conjunction with this change, Kenneth T. Smith, former Senior VP, CFO, expects to leave the Company, serving in a transition role as Senior VP – Finance until October 2012.
OfficeMax announced that John Kenning will serve as Exec VP and President of its contract division
OfficeMax has announced that Ronald Lalla has been named Exec VP, Chief Merchandising Officer
Overstock.com, Inc. announced it has hired Timothy Dilworth as the company’s Senior VP of Marketing.
PC Mall, Inc. announced that it has hired Mark McGrath as President, a position previously held by the Company’s Chairman and CEO, Frank Khulusi.
Target Corp. announced that CFO and Exec VP Doug Scovanner has retired from his posts with the retailer. He will remain with the company for the next five months to assist with the transition, according to the retailer.
Target has promoted John Mulligan to the position of Exec VP and CFO. Mulligan served as Senior VP Finance. He replaces Doug Scovanner, Target’s Exec VP and CFO for the past 18 years.
Target Corp. announced that Jeffrey J. Jones II has been named as the company’s Exec VP and Chief Marketing Officer.
Financial Focus:
Books-A-Million, Inc. announced financial results for the 52-week period ended January 28, 2012. Net sales from continuing operations decreased 3.6% to $468.5 million from net sales from continuing operations of $486.1 million in the year-earlier period.
Brookstone, Inc. announced that, for the fiscal year ended December 31, 2011, net sales increased 6.1% to $496.8 million from the same period last year.
CDW Corporation reported that total net sales in 2011 were $9.602 billion compared to $8.801 billion in 2010, an increase of 9.1 percent.
Conn’s, Inc. reported annual sales of $653.7 million for the fiscal year ended January 31, 2012.
Dollar General Corporation reported record sales for its full year (53 weeks) ended February 3, 2012. For the full year 2011, net sales increased 13.6 percent to $14.81 billion compared to net sales of $13.04 billion in 2010.
Fred’s, Inc. reported improved financial results for the fiscal year ended January 28, 2012. Fred’s total sales for fiscal 2011 increased 2% to $1.879 billion from $1.842 billion for the same period last year.
GameStop announced that for fiscal year 2011, total global sales were $9.55 billion, a modest increase over fiscal 2010’s $9.47 billion.
Insight Enterprises, Inc. reported results of operations for the year ended December 31, 2011. For the full year 2011 net sales increased 10% to $5.3 billion, the highest in the Company’s history.
Lifetime Brands reported that for the year ended Dec
. 31, 2011 consolidated net sales were $444.4 million, up 0.3% from consolidated net sales of $443.2 million for 2010.
. 31, 2011 consolidated net sales were $444.4 million, up 0.3% from consolidated net sales of $443.2 million for 2010.
Michaels Stores, Inc. reported that for the year, net sales increased 4.4% to $4.210 billion.
Netflix reported annual fiscal year end sales of $3.2 billion and increase from $2.16 for the previous year.
PC Connection, Inc. announced that net sales for the year ended December 31, 2011 were $2.10 billion, an increase of $129.1 million or 6.5%, compared to $1.97 billion for the year ended December 31, 2010.
The Pep Boys — Manny, Moe & Jackannounced results for the fifty-two week fiscal year ended January 28, 2012. Sales for fiscal year 2011 increased by $75.0 million, or 3.8%, to $2,063.6 million from $1,988.6 million for fiscal 2010.
RadioShack Corp. reported total net sales and operating revenues for 2011 (12 months ended Dec. 31, 2011) increased 2.6 percent to $4.38 billion, compared to 2010 (12 months ended Dec. 31, 2010).
Target Corporation announced that fiscal 2011 sales increased 3.7 percent to $69.9 billion from $67.4 billion in 2010.
Tiffany & Co. reported double-digit sales and earnings growth for the year ended January 31, 2012 (“fiscal 2011”). Net sales rose 18% to $3.6 billion for the year.
Toys“R”Us, Inc. reported financial results for the full year of fiscal 2011 ended January 28, 2012. Net sales were $13.9 billion, an increase of $45 million compared to the prior year.
Trans World Entertainment Corporationreported financial results for its fiscal year ended January 28, 2012. For fiscal year 2011, total sales decreased 17% to $542.6 million, compared to $652.4 million in 2010.
U.S. Cellular reported service revenues of $4,053.8 million, compared to $3,913.0 million in 2010 for the twelve months ended Dec. 31, 2011
Wal-Mart Stores, Inc. announced that consolidated net sales for the full fiscal year were $443.9 billion, an increase of 5.9 percent over fiscal year 2011.
West Marine announced that net revenues for the fiscal year 2011 were $643.4 million, a 3.3% increase over net revenues of $622.8 million for the fiscal year 2010.
Williams-Sonoma announced that during fiscal 2011, net revenues increased 6.2% to $3.721 billion versus $3.504 billion in FY 10.
Yankee Candle Company, Inc. announced financial results for the year ended December 31, 2011 (“Fiscal 2011”). Total company sales increased by $52.0 million or 7.1% to $785.8 million.
Industry Insight:
Best Buy will shift toward mobile sales and smaller stores in an effort to boost sagging revenue and compete with rivals like Amazon and Wal-Mart. Best Buy’s signature big box stores will be dialed back, and 50 will close in 2012
Dollar General plans to open approximately 625 new stores, including 40 Dollar General Market stores in 2012. In addition, the company plans to remodel or relocate a total of approximately 550 stores.
Tiffany & Co. plans to open nine locations in the Americas
Real Estate:
Dollar General plans to open approximately 80 stores in new markets, including California , Nevada , Connecticut , Massachusetts and New Hampshire
Green Initiatives/Sustainability:
Best Buy has launched a pilot program in Chicago
Customers who sign on with Constellation at Best Buy receive a $50 Best Buy gift card for signing up for a two-year service agreement or a $25 gift card for a one-year service agreement. In conjunction with broad home-energy-management practices, Constellation claims to save customers from 18 percent to 22 percent over competitors in electricity prices. While there are no current plans to expand the pilot program between Best Buy and Constellation Energy beyond the one store in Chicago
