News

On the heels of a very successful fiscal year, Foot Locker executives have announced a string of new and expanded strategic initiatives.

Richard Johnson, president and CEO of Foot Locker Inc. and other members of the company's senior management team announced an updated set of growth initiatives, and a revised strategic framework, intended to further elevate its long-term financial performance for the period 2015 through 2020.

A focus on efficiency and improved customer engagement helped True Value boost same store sales and report its strongest growth in 20 years.

The hardware co-op's total gross billings for fiscal 2014 were $2.015 billion, up 6% compared with the prior year, and the highest in two decades. Same store sales to retailers were up 5.2% on a gross billings basis. Destination True Value retail comps were up 4.8%, and overall same store sales were up 3.1%, the company reported.

New York - EBay and Sotheby’s are jointly launching live auctions on EBay. Part of EBay’s new live auctions platform, the service is now available for browsing and advance bidding on Sotheby’s items leading up to the launch of Sotheby’s first live auctions on eBay on April 1.

EBay and Sotheby’s originally announced plans to partner on live auctions in July 2014, and have since worked together to deliver a virtual experience. Sotheby’s first live auctions on eBay will be a themed New York sale and a photographs sale.

Plano, Texas – Deb Berman, chief marketing officer of The J.C. Penney Co. Inc., has left the company. In a statement, J.C. Penney said Berman left of her own accord.

Berman came to Penney from Kraft Foods Group in August 2013, as part of CEO Mike Ullman’s attempt to rebuild the retailer’s management team.  She served at Kraft as VP of marketing and engagement and also had prior experience working at advertising agencies.
 

New York – Foot Locker Inc. is significantly raising its long-term financial objectives for 2020, including achieving sales of $10 billion. The retailer also seeks to achieve sales per gross square foot of $600, net income margin of 8.5%, EBIT margin of 12.5%, return on invested capital of 17%, and inventory turnover of three or more times.

Business innovation and technology leader Efficient Collaborative Retail Marketing (ECRM) hosted a category review for Bi-Lo Holdings at ECRM’s Snack & Dry Grocery event in February.

Bi-Lo, which operates approximately 800 stores under the Bi-Lo, Harveys, and Winn-Dixie supermarket banners, met with more than 70 suppliers over three days, including potential participants in its Supplier Diversity Program.

New Canaan, Conn. - Stadium Capital Management LLC and its affiliates have notified Big 5 Sporting Goods Corp. that Stadium Capital will nominate three independent candidates to the board of directors of Big 5 at the 2015 annual meeting, expected to be held in June 2015. The nominees are Dominic P. DeMarco, a managing director and co-chief investment officer of SCM and an existing member of the board; Nicholas Donatiello Jr., a consumer, media and technology strategist; and Michael J.

DSW Inc. says it plans to open as many as 35 new stores this year after reporting that its profits shot up 10% in the fourth quarter.

The specialty footwear retailer reported net income of $30.8 million, up 10% from $28.1 million the same quarter a year earlier. Cost of sales grew at a slower pace than actual sales, helping boost profits.