Finance & Capital Management

Lowe’s is competing in the price wars -- especially with Internet retailers -- by using the merchant mind-set of “dead net pricing.” 

Speaking at the UBS Global Consumer Conference Wednesday, Lowe’s CEO Robert Niblock described his company’s improvements in the price wars.

BIRMINGHAM, Ala. — Hibbett Sports reported that net sales for the fourth quarter increased 14% to $217.4 million compared with $190.7 million for the same period last year. Comparable-store sales increased 4.9% on a 13-week to 13-week period.

Net income for the quarter increased 22.3% to $19.4 million compared with $15.8 million for the same period last year. Earnings per diluted share increased 23.7% to 73 cents for the quarter compared with 59 cents for the same period last year. 

SAN LUIS OBISPO, Calif. — Shopatron, a provider of cloud-based, e-commerce order management solutions, has launched its allied commerce initiative – the next wave of its broad market expansion on the heels of a $4 million venture debt financing it completed in December 2012. 

Walmart CFO Charles Holley weighed in on the retailer’s growth priorities earlier this week during a presentation to investors at the Bank of America Merrill Lynch Consumer & Retail Conference.

EAST RUTHERFORD, N.J. — Kid Brands, a manufacturer of juvenile and infant products has announced the appointment of Raphael Benaroya as president and CEO, effective immediately. The company intends to appoint a non-executive chairman of the board, although Benaroya will continue to serve as chairman until his successor is appointed, and is expected to continue to serve as a board member thereafter.

Safeway president of merchandising, Kelly Griffith, was named to a new operational position, filling a void created by the retirement of EVP of retail operations Bruce Everette.

BENTON HARBOR, Mich. — Whirlpool  has appointed Esther Berrozpe as president of the company's Europe, Middle East and Africa (EMEA) region and to the company's executive Committee. Berrozpe is currently VP European markets for the company's EMEA region.

"Esther is a proven global leader at Whirlpool Corp. Her experience in both Europe and North America is strong, and she is well-suited to lead our European business," said Jeff Fettig, chairman and CEO of Whirlpool Corp.

KANSAS CITY, Mo. — McKee Foods stalking horse bid for Hostess Brands' Drake's snack cake brand will be presented for approval to the U.S. Bankruptcy Court, as no other qualified bids were received for those assets.

McKee has agreed to pay $27.5 million for the Drake's brand and certain equipment. Drake's products include Ring Dings, Yodels, Devil Dogs, Yankee Doodles, Sunny Doodles and Drake's Coffee Cake.

 The company will ask the U.S. Bankruptcy Court for the Southern District of New York to approve the transaction at a hearing on April 9.

Edwin Watts Golf replaces aging legacy systems with ERP option

Edwin Watts Golf has grown significantly during the past several years, expanding its store portfolio and direct mail and Internet businesses as well. With growth came an increased complexity that taxed the capabilities of its aging legacy systems, which did not provide visibility across channels and among stores. The retailer decided it was time to invest in a new solution due to the age and fragmentation of its existing systems.

Is it just me, or does it seem like the past two months or so have seen an unusually high level of turnover at the top? It's gotten so that you need a scorecard to keep up with all the comings and goings, as chief executives are forced out, jump ship, retire or move on.

This year's changing of the guard is bittersweet because it includes the retirement of two veteran retailers, Steve Burd of Safeway and Maxine Clark of Build-A-Bear Workshop.