Corporate Governance

A precipitous decline in gun and ammunition sales caused a 21.7% drop in first quarter same store sales at Cabela’s where profits were half the prior year level.

Firearms and ammunition sales declined 39% and 32%, respectively, during the first quarter ended March 29, and total company sales declined 9.6% to $725.8 million. Profits totaled $25.7 million, or 36 cents a share, compared to $49.8 million, or 70 cents a share, the first quarter the prior year.

Godzilla returns to the big screen in a few weeks and if the film’s classic representation of the oversize amphibian resonates with audiences retailers could be looking at solid sell through of Godzilla goods.

Lowe's has promoted Michael P. McDermott to chief merchandising officer, replacing Michael A. Jones, who will assume the role of chief customer officer, effective April 30. The company also named Joseph M. (Mike) Mabry as strategy and experience design executive, replacing Robert J. Gfeller, who left the company last month.

Both Mabry and McDermott will report to Jones.

As announced in February, The Coca-Cola Company’s board has today elected Kathy N. Waller as EVP and CFO. Waller is replacing Gary Fayard who is retiring after 20 years with the company.

Former Walmart CEO Lee Scott and Audit Committee chairman Christopher Williams leave some big shoes to fill when they step down from the retailer’s board in June.

Supervalu has elected Frank (Terry) Savage and Mathew Pendo to its board of directors.

Savage and Pendo were both appointed to the board as designees of Symphony Investors, a Cerberus Capital Management-led investor consortium, under the terms of the tender offer agreement entered into with Symphony Investors and Cerberus in connection with Supervalu’s sale of five banners to an affiliate of Symphony Investors. Symphony Investors owns approximately 20.9% of Supervalu’s outstanding common stock.

A Walmart initiative begun a year ago to offer an online assortment of products from small women-owned businesses has expanded to the retailer’s stores.

Jelly Belly Candy Co. will celebrate its American heritage with the introduction of two new patriotic bags of Jelly Belly jelly beans.

The All American mix, which consists of Very Cherry (red), Coconut (white) and Blueberry (blue), is now available in a 3.5-oz. bag that features Mr. Jelly Belly waving the American flag. The 3.5-oz bag of Very Cherry — the top-selling jelly bean flavor, according to the company — now features an updated design with a white gingham pattern and a graphic of ripe cherries that bring to mind summer picnics.

Amazon continues to power ahead with record first quarter sales, solid bottom line improvement and intriguing new initiatives to drive future performance.

Sales increased 23% to $19.7 billion during the quarter ended March 31, compared to $16 billion the prior year. The sales figure was comprised of product sales which grew 18.3% to $15.7 billion and service sales which grew 44% to slightly more than $4 billion. The company’s fulfillment costs increased 29% to $2.3 billion.

Overstock.com promoted Seth Marks to SVP of merchandising and strategic sourcing. The promotion was in conjunction with the online shopping site’s first-quarter results for the period ended March 31.

Marks has been with the company since 2013, serving as VP of sales and special acquisitions.

"Seth brings a wealth of experience to this position from his previous work in liquidation and retail channel markets. He continually makes great contributions in securing the best deals for our customers," CEO Patrick M. Byrne said.