Supply Chain & Merchandising

Matthews, N.C. -- Family Dollar announced that it has named Holly Shaskey-Platek to the position of senior VP – merchandising. She will lead the home, apparel and seasonal divisions.

Prior to joining Family Dollar in 2008 as a consultant to provide company-wide change management leadership, Holly spent a total of 25 years with Target Corp. and ShopNBC.
 

BALDWYN, Miss. — Hancock Fabrics reported that net sales for the second quarter increased 5% to $60.5 million from $57.8 million for second quarter of last year, and comparable-store sales improved by 5%.

Earnings per share increased by 3 cents, or $0.6 million with a net loss of $3.3 million, or 17 cents per basic share, in the second quarter of fiscal 2012 compared to a net loss of $3.9 million, or 20 cents per basic share in the second quarter of fiscal 2011.

Walmart saw its low price supremacy challenged this week by a Bloomberg report indicating Target had lower prices on a basket of 150 comparable items.

PHOENIX — Sprouts Farmers Markets announced that Shon Boney, who has served as CEO since the company's founding in 2002, will assume the role of chairman of the board of Sprouts. Long-time Sprouts president Doug Sanders will become president and CEO, whereby he will continue to be responsible for all day-to-day aspects of running the business.

According to the company, Boney is taking on the chairman role in order to spend more time with his family in Sand Diego.

IRVING, Texas — Michaels Stores reported a second quarter same-store sales increase of 2.9% driven by a 3% increase in transactions and a positive impact of 0.9% from deferred custom framing revenue partially offset by a 1% decrease in average ticket.

Net sales for the quarter increased 4.1% to $892 million from $857 million in the second quarter of fiscal 2011.

Net income for the quarter increased 30% to $13 million, and as a percent of net sales increased 20 basis points to 1.4%.
   

Columbus, Ohio -- Big Lots reported Thursday that net income for the quarter ended July 28 slipped to $22.1 million, from $35.7 million in the year-ago period.

Sales in the United States edged up 1.7% to $1.18 billion, from $1.16 billion, and domestic same-store sales decreased 1.9% for the quarter.

In Canada, the company recorded a loss for the quarter of $3.3 million, widened from its loss of $1.2 million last year.

Fort Worth, Texas -- Dallas-based Cypress Equities said that CD Ski & Sports will open its fifth Climate store, locating it at the West 7th mixed-use project in Fort Worth, Texas.

The new 4,221-sq.-ft. store is slated to open in late September.

Wounded retailers have a tendency to take irrational actions which means Walmart could have its hands full this holiday season as Best Buy is looking desperate and has a new CEO at the helm.