Corporate Governance

Sherwin-Williams cited higher paint sales volumes in its Paint Stores Group and acquisitions as helping to drive net sales growth. 

The company increased net income 12%, to $262.97 million from $234.95 million, during the third quarter of fiscal 2013.

Net sales grew 9.4% to $2.85 billion from $2.6 billion.

It was steady as she goes at Procter & Gamble during the company’s first quarter as the nation’s largest consumer packaged goods company generated sales and profits that met expectations.
Sales increased 2% to $21.2 billion and net income increased 8% to slightly more than $3 billion, or $1.04 a share, from $2.8 billion, or 96 cents a share.

Petco has opened its first store in Mexico and announced plans for continued expansion in Mexico and Latin America through a previously announced joint venture with Grupo Gigante of Mexico. Together, the companies plan to open as many as 50 Petco stores in Mexico and Latin America by 2020.

The retail industry couldn’t function if it weren’t for the efforts of store managers at the front lines of running the day-to-day business, executing corporate strategies, managing people and serving customers.

New York -- Sephora announced Thursday that Calvin McDonald has been named president and CEO of Sephora Americas, effective Jan. 1, 2014.

McDonald, who previously served as president and CEO of Sears Canada, succeeds David Suliteanu.

Suliteanu, who has helmed Sephora Americas since July 2000, will become CEO of Kendo Brands, which is owned by Sephora's parent, LVMH Moet Hennessy Louis Vuitton SA.

Canton, Mass. – Dunkin’ Brands Group, the parent company of Dunkin’ Donuts and Baskin Robbins, reported that its third quarter net income grew 36% to $40.2 million.   

Revenue increased 8.5%, from $171.7 million, to $186.3 million.

New York -- The Millennial generation is expected to outspend Baby Boomers by 2017, yet retailers underestimate the size and purchasing power of this consumer, according to a new study by Berglass + Associates and Women’s Wear Daily.

The study, “What Happens When Millennials Get the Wallet,” found that retailers do not fully understand the needs of Millennials and are employing business strategies and tactics that do not apply to this customer.
 

St. Louis -- Build-A-Bear Workshop shrunk its net loss in the third quarter of fiscal 2013 to $1.4 million from $4.3 million in the same quarter a year earlier. The company announced that it expects to close an additional 10 to 25 stores in fiscal 2013 and 2014 and, along with opportunistic store openings, expects to reach a store count of approximately 250 stores in North America.

Consolidated net retail sales were $83.6 million while operating 31 fewer stores compared to $84.3 million in the fiscal 2012 third quarter, a decrease of 0.9%.

Sidney, Neb. – Cabela’s said that strong performance from its next-generation store format helped drive its third quarter net income up 16.6%, to $49.9 million compared to $42.8 million in the year ago quarter. The company also announced plans for three new stores.

Revenue grew about 15%, from $741.2 million to $850.8 million. Same-store sales grew 3.9%.

Pittsburgh – GNC Holdings reported strong results for the third quarter of fiscal 2013, reporting a net income increase of 17.3%, from $62.2 million to $73 million.

Revenue grew about 9%, from $621.6 million to $675.6 million. Same store sales increased approximately 6.7% in domestic company-owned stores (including GNC.com sales) in the third quarter of 2013, while in domestic franchise locations, same-store sales increased 5.9%.