Supply Chain & Merchandising

Kearney, Neb. – The Buckle Inc. has made a number of reappointments to its executive staff. Kelli D. Molczyk has been appointed to the position of VP of women’s merchandising, Diane L. Applegate has been appointed to the position of VP of supply chain and merchandising operations, and Thomas B. Heacock has been appointed to the position of VP of finance, treasurer, and corporate controller and has been appointed as a member of the company’s executive committee.   

Melville, New York - A&G Realty Partners, a commercial real estate, advisory and investment group, has been retained by Alco Stores to manage the sale of approximately 200 Alco store locations, as well as the company’s former headquarters. The sale is a result of the retailer’s Chapter 11 bankruptcy filing on October 12, 2014.  

The nation’s leading automotive retailer credited investments in inventory and favorable weather with helping it achieve its 33rd consecutive quarter of double digit earnings growth.

The company said sales for its first quarter ended Nov. 22 increased 8 percent to $2.3 billion while same store sales increased 4.5 percent. Profits for the period increased 9.3 percent to $238.3 million while earnings per share advanced 15.6 percent to $7.27 and were aided by the company’s repurchase of 571,000 shares.

New York - In an abrupt move, Michael Jefferies, the longtime and often controversial chief of Abercrombie & Fitch, has retired as CEO and stepped down from the company’s board, effective immediately. His retirement caught the industry by surprise, particularly since it comes in the middle of the crucial holiday selling season.    

Burlington Stores Inc. CEO Tom Kingsbury reported an unexpected sales spike in the third quarter, prompting the company to enthusiastically boost its outlook for the year.

The Woodlands, Texas – Conn’s Inc. has named VP and chief accounting officer Mark Haley as interim CFO in the wake of the departure of former CFO Brian Taylor. The company also reported a net loss of $3.06 million in the third quarter of fiscal 2015, compared to net income of $24.38 million a year earlier, missing Wall Street expectations.  

Cary, N.C. – The Pantry Inc. beat Wall Street expectations with net income but missed on revenue in the fourth quarter of fiscal 2014. Net income dramatically shot up to $14.7 million from $1 million in the same period a year earlier, aided by costs and expenses that remained level or dropped.   Revenue fell 3% to $1.95 billion from $2.02 billion, with declining fuel sales offsetting rising merchandising sales.   

NEW YORK - Overall U.S. retail sales (excluding auto) are expected to grow 3%-4% in 2015 although a variety of challenges will continue to constrain the performance of several retailers and retail segments, according to a new Fitch Ratings report.   A gradual increase in the U.S. employment rate and real wages along with near-term benefits from lower gas prices will support retail sales growth.