Corporate Governance

Dr Pepper Snapple Group has promoted Heather Catelotti to VP of investor relations. Catelotti will report directly to CFO Marty Ellen.

The move comes following Carolyn Ross’s elevation to SVP, strategy and innovation. Ross will continue to report to Ellen.

Miami – Burger King Corp. is preparing a new marketing slogan, “Be Your Way.” The new slogan, which appeared in an online video in April 2014, will be featured in a TV ad for the first time on May 26.

Minneapolis – Tony Fisher, president, Target Canada, is departing the company. Mark Schindele, senior VP merchandising operations, will assume the role of president, Target Canada.
 

Houston – Stage Stores Inc. reported a net loss of $18.79 million in the first quarter of fiscal 2014, up from a net loss from $6.86 million in the same period a year earlier. Net sales slightly declined to $372.04 million from $372.1 million, while same-store sales decreased 0.2%.

Philadelphia – Urban Outfitters saw its net income decline 20% to $37.08 million in the first quarter of fiscal 2015, from $47.06 million in the first quarter of the previous fiscal year. This significant net income drop came despite a 6% jump in total net sales to $686.3 million, from $648.2 million.

Net income and sales totals both came in below Wall Street expectations. Total same-store sales remained flat. Higher marketing expenses, which helped boost net sales, contributed to the decline in net income.

Dick’s Sporting Goods reported healthy net income and increased e-commerce penetration in the first quarter despite experiencing significant challenges in the golf and hunting categories.

Net income increased 8% to $69.98 million from $64.82 million. Net sales increased 8% to $1.44 billion from $1.33 billion while sames store sales at Dick's store increase 2.3% but declined 10.4% and Golf Galaxy locations. The company anticipates an increase of 1.3% in same-store sales for both the second quarter and full fiscal year.

Framingham, Mass. – Staples Inc. attributed a 44% drop in net earnings during the first quarter of fiscal 2014 to lower sales caused by store closures and a rise in the value of the dollar. Net earnings of $96 million were 44% below net earnings of $170 million reported a year earlier.

Store closures and weak demand for traditional office supplies and computers hurt Staples in the first quarter of fiscal 2014.

The company attributed a 44% drop in net earnings during the quarter to lower sales caused by store closures and a rise in the value of the dollar. But according to reports, the office products company and second largest internet retailer in the United States is facing stiff competition from big box retailers such as Walmart and e-commerce giants such as Amazon.