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Lululemon adds former Kmart exec to leadership team
Lululemon has appointed Tara Poseley as the company’s chief product officer. In this role, Poseley will oversee the company’s global merchandising and design strategy, working hand in hand with its design team including Deanne Schweitzer, SVP and head of women’s design, and Felix Del Toro, SVP and head of men’s design.
Poseley, who will be reporting to CEO Christine Day, will be responsible for merchandising, inventory, allocation and strategic planning.
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Starbucks Q4 profit up 34%; 1,500 net new stores on tap
Seattle -- Starbucks Coffee Company on Wednesday reported a better-then-expected 34% rise in its fiscal fourth-quarter and raised its quarterly dividend 24%. The company earned $481.1 million, up from $359 million a year ago.
Total net revenues increased 13% to $3.8 billion, just short of expectations.
Global same-store sales increased 7%, driven by a 5% increase in traffic. Same-store sales were up 8% in the United States and the Americas and 8% in China/Asia Pacific region.