Advance Auto Parts

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.   

It’s 12,000 stores and counting for Dunkin’ Donuts.   The chain on Tuesday opened its 12,000th restaurant worldwide, in Riverside, California. The new location is part of Dunkin’s strategic westward expansion.    It plans to open more than 30 new restaurants in California this year with plans for about 300 new locations total to be developed in the state over the coming years.  

Fred’s Inc. named Craig Barnes, executive VP of supply chain, global and domestic logistics, to the newly created role of COO — front store.    In his new role, Barnes will be responsible for merchandising, marketing, supply chain, store operations and real estate, and will report directly to CEO Michael K. Bloom.