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Sterling Jewelers names COO, management shifts
Akron, Ohio -- Sterling Jewelers said Thursday it has named Ed Hrabak, senior VP merchandising, as COO to succeed Bill Montalto, who is retiring from the position in June.
Hrabak has been with Sterling for over 25 years, assuming increasingly greater management responsibility during his tenure.
Sterling also announced that Stuart Lee, VP merchandising, will be promoted to senior VP merchandising upon Hrabak’s promotion to COO.
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Online spending jumps 13% in 2011, hits $161.5 billion
Reston, Va. -- Online retail spending reached $49.7 billion for the fourth quarter, up 14% over a year ago, according to comScore. It was the ninth consecutive quarter of positive year-over-year growth and fifth consecutive quarter of double-digit growth rates. For the entire 2011 year, U.S. retail e-commerce spending reached a record $161.5 billion, marking a 13% increase from 2010.