Personnel Updates

Advance Auto Auto announced the hiring of Thomas Greco as CEO. Thomas Greco succeeds George Sherman, who was the Interim CEO and President since January. Mr. Sherman will continue to serve as President of the company. promoted two of their executives, Jeff Wilke to CEO Worldwide Consumer and Andrew Jassy to CEO Amazon Web Services.

Fred’s announced the hiring of Rick Hans as VP and CFO.

Jo-Ann Stores announced the hiring of Wade Miquelon as CFO.

Target announced the hiring of Tom Kadlec as Senior VP of Infrastructure and Operations and the hiring of Joel Crabb as VP Architecture. Fred’s has also announced that Michael Hayes has become Chairman Emeritus and that Thomas Tashjian is now the Chairman.

Walmart announced the departure of Brian Monahan VP of Marketing for Walmart also announced that Brian Besanceney has been hired as the Senior VP and Chief Communication Officer.

Industry Insight

Big Lots announced the start-up of their on-line ordering retail site.

Best Buy announced the company is expanding their test of same day delivery service from two markets to 13 major metro markets. The service will be available in Atlanta, GA; Boston, MA; Chicago, IL; Dallas, TX; Houston, TX; Las Vegas, NV; Los Angeles, CA; Miami, FL; New York, NY; Philadelphia, PA; San Francisco, CA; Seattle, WA and Washington, DC.

Walmart Stores announced the expansion of the company’s “click-and-collect” grocery shopping service to eight new markets: Daphne, Al; Boise, ID; Kansas City, MO; Charleston, SC; Austin, TX; Richmond, VA; Virginia Beach, VA and Provo, UT.

Staples will start testing a communal workspace with Workbar LLC. The office space will take 10 to 20 percent of Staples total square footage. Workbar LLC will pay Staples a monthly fee


Real Estate

Costco Wholesale is planning to open a location in Minneapolis, MN. The new location will be focused on serving small businesses.

Dollar General plans to open approximately 900 new locations and relocate or remodel 875 in fiscal 2016. The company is also forecasting 1,000 new location openings with 900 locations being relocated or remolded in fiscal 2017.

Five Below has entered into Louisiana. This is a new market for the company. Five Below plans to open 85 new locations in 2016.

Kirkland’s has plans of opening 35 to 40 new locations in 2016 and will also close 10 to 15 locations.

PETCO Animal Supplies Inc. will open seven new locations in the month of April. The new locations are in Bronx, NY; Grandview, MO; Roanoke, VA; Dover, DE; Los Angeles, CA; Willowbrook, IL and Rochester, NH. In addition to the new locations opening, PETCO will also expand one location in Swampscott, MA and remodel seven locations in the San Antonio, TX area.


Financial Focus

Hancock Fabrics has begun their going out of business sale after filing for bankruptcy. The company expects it will take several weeks for all merchandise to be sold at all locations.

Five Below announced sales of $832.0 million for Fiscal Year End (FYE) 1/30/2016.

Kirkland’s announced sales of $561.8 million for FYE 1/30/2016.

Michaels announced sales of $4.9 billion for FYE 1/30/2016.