-
Lowe's realigns merchandising organization
Lowe's has promoted Michael P. McDermott to chief merchandising officer, replacing Michael A. Jones, who will assume the role of chief customer officer, effective April 30. The company also named Joseph M. (Mike) Mabry as strategy and experience design executive, replacing Robert J. Gfeller, who left the company last month.
Both Mabry and McDermott will report to Jones.
-
Starbucks perks up in Q2
Seattle – Starbucks Coffee Company reported generally strong performance in the second quarter of fiscal 2014, compared to the same period a year earlier. Earnings per share rose 10% to $0.56, from $0.51.
Consolidated net revenues grew 9% to $3.87 billion from $3.55 billion, while consolidated same-store sales increased 6%.
The retailer cited its Teavana business, partnership with Oprah Winfrey, and new payment and loyalty technology as all contributing to overall fiscal growth.