Advance Auto Parts

The finance head of Advance Auto Parts is stepping down.

Customers not only crave better mobile experiences, they are willing to reward brands that deliver them.

Consumers are growing increasingly comfortable using connected devices for daily tasks — and shopping is not far behind.    As more devices connect to chatbots and virtual assistants, an increasing number of consumers are ready to embrace the automation and convenience delivered by IoT technologies. Nearly half of consumers (48%) said they would feel comfortable with a connected device, such as a refrigerator, ordering items on their behalf.  

Advance Auto Parks turned in a disappointing performance in its first quarter.   The chain reported earnings of $1.46 per share, down from $2.16 per share in the year-ago period. Adjusted EPS was $1.60, far short of the $2.16 per share FactSet consensus.   

Large-format experiential stores focus on customer experience, convenience

At a time when many retailers are cutting back on brick-and-mortar investments to focus on e-commerce, a few notable ones are taking the opposite approach. They are launching large-format experiential stores to immerse customers in the full brand experience and offer items in each product category, from couches to dresses.

At a time when many retailers might be cutting back on brick-and-mortar investments to focus more on e-commerce, a few notable ones are taking the opposite approach and launching large-format experiential stores to immerse customers in the full brand experience and offer items in each product category, from couches to dresses.   

A Wireless, which operates more than 1,140 Verizon-branded stores in 46 states, has appointed 26-year retail veteran George Sherman as its new CEO.   Most recently, Sherman was president and also served as interim CEO for Advance Auto Parts. Prior to that, he was senior VP, global services and president, Best Buy Services for Best Buy from 2009 until 2013.  

While Black Friday comes just once a year, most retailers have probably been planning for the major shopping day – and the rest of the holiday season – for quite some time now. For shoppers, Black Friday through Cyber Monday – also known as “Cyber Week” – are all about scoring the best deals on gifts for their family and friends. And similar to recent years, most shoppers won’t simply be flooding physical stores this holiday season. Rather, they will also take advantage of deals through e-commerce websites and mobile apps. 

Advance Auto Parts has appointed Thomas (Tom) Okray as executive VP, CFO, effective Oct. 31, 2016.    In a previously announced succession plan, Okray will succeed Mike Norona, who will remain with Advance Auto in an advisory role until the end of the year.