Personnel Updates:
Alco Stores has promoted Brent Streit to Senior VP Marketing and e-Commerce.
Barnes & Noble has announced the appointment of Thomas Donohue as VP, Treasurer; Kanuj Malhotra as VP Corporate Development; and the promotion of Andy Milevoj to VP Investor Relations.
Books-A-Million has named Michael Rediker as Corporate Development Analyst. Rediker will be responsible for identifying, analyzing and implementing strategic corporate initiatives within the organization, including new business growth opportunities.
Dollar General Corp. announced that Kathleen Guion, Division President of Store Operations and Store Development has officially retired and left the company. After announcing her retirement last year, she remained with the company and was responsible for transitioning her real estate growth and development responsibilities and for assisting the company in its strategic planning.
Mail Boxes Etc. Inc. announced the departure of Stuart Mathis, its now former President of The UPS Store chain who left to become President, CEO of Quiznos.
Mail Boxes Etc. Inc. has named Tim Davis President of The UPS Store franchise network.
Michaels Stores CEO John Menzer reportedly has resigned so he can focus on recovering from a stroke he suffered in April. The company has launched a search for a new CEO.
Office Depot Senior Director of Private Brand Operations and Global Sourcing, Dennis Cohen, has left the company to accept a position with a non-competitor.
Pep Boys – Manny, Moe, & Jackannounced the departure of CFO Ray Arthur to accept a similar position with another company.
PetSmart has named Paulette Dodson to the position of Senior VP, General Counsel and Secretary.
RadioShack has named Telvin Jeffries as Exec VP and Chief Human Resources Officer and General Manager of Retail Services.
Shopko has hired Nancy Altman as Senior VP, Chief Marketing Officer,
Trans World Entertainmenthas named John Anderson acting CFO. Anderson is replacing Tom Seaver who will be leaving the company to pursue other opportunities after a short transition period.
Vann’s Inc, the Montana based appliance and electronics chain, announced that Jerry McConnell has assumed the position of CEO. George Manlove, Vann’s previous CEO, has stepped down, but will continue to serve on Vann’s board of directors and act as advisor throughout the transition.
Williams-Sonoma has named Julie Whalen as permanent CFO. Whalen replaces Sharon McCollam, who retired in March. Whalen had been serving as acting CFO since McCollam retired.
Financial Focus:
Five Below completed an initial public offering that involved the sale of 9.6 million shares priced at $17.
Tuesday Morning reported that for the fiscal year ended June 30, 2012, net sales were $812.8 million compared with $821.1 million for fiscal 2011.
Mergers and Acquisitions:
Bed Bath & Beyond Inc. announced that its tender offer for the outstanding shares of common stock of Cost Plus was successful. Cost Plus is now a Bed Bath & Beyond subsidiary and has stopped trading on the Nasdaq.
Industry Insight:
AutoZoneopened its newest store in Wasilla, Alaska. This location marks the company’s 5,000th store and its entry into Alaska.
Blockbuster has relocated its corporate headquarters to Dish’s campus in Colorado.
Five Below expects to add 50 stores this year with plans to open 60 units next year.
< div style="background: white;">
Little Professor Book Storeannounced it closed a location in Eldersburg MD.
Vann’s Inc. the Montana-based electronics and appliance retailer filed for Chapter 11 protection Sunday.
Green Initiatives/Sustainability:
99 Cents Only Stores has announced the conversion of 40 semi-trucks from diesel to clean-burning compressed natural gas (CNG). This new fleet is the largest private Class-8 CNG trucking fleet in Southern California.
Office Depot announced that its downtown Portland store has been remodeled to reflect a smaller footprint and an environmentally friendly design.
As part of an effort to improve the customer shopping experience, Office Depot said it has been rolling out smaller store formats across the U.S., and the newly downsized Portland store – one of the larger formats when it opened 13 years ago – is the first in the Pacific Northwest to follow the trend.
Approximately 900 of the Portland store’s products have environmental attributes identifiable by their labels. And green building elements include:
T5 energy-saving lights and reflectors allowing use of two bulbs instead of three per fixture;
Daylight and occupancy sensors to reduce energy use;
Energy Management Systems to allow tracking and central control of energy usage;
Reused store shelving and fixtures;
Recycled content carpet; and
Interior finishes made up of low VOC emitting materials.
“By creating smaller stores we’re reducing our retail footprint, our energy footprint and our carbon footprint,” said Yalmaz Siddiqui, senior director of environmental strategy at Office Depot. “This store represents a new model for consumer engagement on sustainability.”
Office Depot has been named to the Environmental Protection Agency’s (EPA) list of 2012 Energy Star Leaders for Leadership in Reducing Greenhouse Gas Emissions.
In the baseline year of 2004, Office Depot facilities emitted 381,689 metric tons of carbon dioxide. By 2011, the carbon footprint of Office Depot’s facilities was 239,319 metric tons — a reduction of over 140,000 metric tons, or 37 percent over the seven year period. The achievement was accomplished as a result of investing in energy efficiency and green building initiatives. Such projects have included a major de-lamping effort and a change to energy efficient lamps, reflectors and ballasts; the installation of motion detectors in receiving areas; continued upgrades to building HVAC systems; and aggressive energy management controls and monitoring.
Staple’s VP of Environmental Affairs is currently implementing the company’s five metric-based pillars that make up its sustainability business strategy as they move forward across all of their global markets and business units. To do this, the company takes a holistic approach when evaluating what truly makes a product or process sustainable. The key factors under examination include:
Green products and services
Life cycle impacts of products
Addressing the issue of efficiency
Reducing carbon impacts associated with energy and energy use
Community engagement
Wal-Mart Stores Inc. unveiled its 100th California store to use rooftop solar panels to generate power. The store, located in San Diego, is part of the company’s long-term goal to run off of 100 percent renewable energy. Since launching its solar pilot program in May 2007, the company has worked with local companies to install solar technology at stores across California, including 43 stores in the Los Angeles area and 17 stores in the Bay Area. San Mateo, Calif.-based SolarCity manages and maintains 70 of the 100 Walmart stores and Sam’s Clubs in California using traditional and thin-film solar installations.
Walmart Stores has installed its first onsite large-scale wind turbine at a distribution center in Red Bluff, Calif. The turbine is expected to be operational by the fall. According to Wal-Mart, the wind turbine will provide approximately one megawatt of power, or 15% to 20% of the facility’s annual electrical use. It will produce approximately 2.2 million kilowatt hours annually, the company added; and, over the term of the power purchase agreement, it will help Wal-Mart save on energy expenses while providing price certainty for the electricity produced.
