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Supervalu’s Sales joins Toys “R” Us board
Former Supervalu and Canadian Tire executive Wayne Sales was named to the board of directors at Toys “R” Us to fill a position vacated by Michael Calbert.
Calbert had served on the Toys “R” Us board since 2005 and the company noted his departure did not involve any disagreement. Calbert also serves on the board of Dollar General and earlier this year resigned from KKR & Co.
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Cabela's sees profit plummet by half in first quarter
Sidney, Neb. -- With last year’s strong first quarter fueled by a firearms and ammunition sales surge, outdoor retailer Cabela’s Inc. saw this year’s quarter end on a less stellar note.
Revenue in the first quarter fell 9.6% to $725.8 million; retail store revenue decreased 9.4% to $440.9 million. Same-store sales plunged 21.7%, compared to the same period last year.
Net income was $25.7 million, compared to $49.8 million in the year-ago quarter.