News

The world’s largest social media network reported record first quarter results late Wednesday and CFO David Ebersman used the occasion to announce his departure.

The National Retail Federation’s ongoing effort to highlight the industry’s value and career opportunities have been expanded with two new initiatives.

Safeway posted sales of $8.3 billion in the first quarter of 2014, representing an increase of 1%. The slight uptick in sales was primarily attributed to an identical-store sales (excluding fuel) increase of 1.8%, partly offset by lower fuel sales in 2014.

The identical-store sales (excluding fuel) increase of 1.8% consists of a 1% increase in price per item and a 0.8% increase in volume. Safeway's share of sales in all outlet channels increased slightly, and sales to its most loyal households improved during the quarter.

Sales of animal- and pet-related merchandise and winter seasonal items helped push up sales at Tractor Supply Co. in the first quarter ended March 29.

Net sales increased 9% in the quarter to $1.18 billion, up from $1.09 billion in the same quarter last year. Comparable-store sales increased 2.2%.

Net income for the quarter increased 10.9% to $48.8 million, up from $44 million

Greg Sandfort, president and CEO, said the first-quarter results demonstrated an ability to perform during tough weather conditions.

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.

With net revenues soaring 36% in the first quarter to $642 million from $472 million in the prior year's period, Under Armour is off to a strong start in 2014. In conjunction with its financial results, the company also opened its newest specialty retail location in SoHo, in New York.

A precipitous decline in gun and ammunition sales caused a 21.7% drop in first quarter same store sales at Cabela’s where profits were half the prior year level.

Firearms and ammunition sales declined 39% and 32%, respectively, during the first quarter ended March 29, and total company sales declined 9.6% to $725.8 million. Profits totaled $25.7 million, or 36 cents a share, compared to $49.8 million, or 70 cents a share, the first quarter the prior year.

Godzilla returns to the big screen in a few weeks and if the film’s classic representation of the oversize amphibian resonates with audiences retailers could be looking at solid sell through of Godzilla goods.

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.

As announced in February, The Coca-Cola Company’s board has today elected Kathy N. Waller as EVP and CFO. Waller is replacing Gary Fayard who is retiring after 20 years with the company.