News

Walmart deepened its commitment to domestic sourcing and supply chain efficiency on Thursday when Walmart U.S. president and CEO Bill Simon unveiled a first-of-its-kind RFP process and a new Innovation Fund.

Both revelations came at an event Walmart holds each spring in Orlando known as the Year Beginning Meeting, or simply YBM. While much of the several day event is focused on Walmart store managers, a portion is devoted to trading partners who are given the opportunity to hear from top executives.

In 1984, at the impressionable age of 17, Doug McMillon’s journey with Walmart began in a way that hardly foretold he would one day become CEO. On the way to a Walmart warehouse for his first day of unloading trucks, McMillon rear-ended his supervisor’s car with his father’s Honda Civic, he recalled in the February issue of Walmart World.

Although McMillon’s early exposure to Walmart came inside a sweltering distribution center, he said the camaraderie, enthusiasm and passion he witnessed let him know something special was going on.

Genesco chairman, president and CEO Robert J. Dennis said that the company’s overall fourth-quarter results were lower than expected, thanks to inconsistent sales patterns and severe winter storms that affected its key markets.

All is not grim, however, as the company is making investments to bolster its omnichannel capabilities, which Dennis expects will protect near-term profitability and allow the company to expand its retail footprint.

Retailers and CPG companies faced with the twin pressures of low inflation and a lack of volume growth are discovering new methods of driving profit improvement from some surprising sources within their supply chains.

Tractor Supply Company has named former Ulta Beauty executive Robert D. Mills as SVP and chief information officer, succeeding James Callison. Mills will also serve on the company’s executive committee.

Callison, who informed the company last year about his plans to retire, will remain on-board for an undisclosed amount of time while the transition is completed.

Finance executives who participated in professional services firm BDO’s annual CFO survey expect 8.2% growth in online sales this year and not surprisingly plan to increase investments in mobile capabilities.

Mobile and online sales will continue to drive growth for retailers in 2014, the firm said. However, now that e-commerce has firmly taken root in the retail industry, growth is beginning to stabilize. As a result, about 64% of CFOs said online sales will grow in the coming year, a figure below the 74% who expressed that sentiment the prior year.

Orlando, Fla. -- The digital marketing initiative known as “My Weekly Ad” is helping CVS Caremark grow sales and deepen engagement with loyal customers by providing them with personalized versions of the retailer’s weekly ad.

The My Weekly Ad program was launched last fall, and Wednesday morning during a presentation at the IRI Summit CVS Caremark senior VP of merchandising and retail pricing Judy Sansone shared additional details regarding the program.

Atlanta -- Severe winter weather hindered shopping activity in February, according to First Data Corp.'s SpendTrend report, which tracks same-store POS data by credit and debit cards, closed loop prepaid cards, EBT, and checks from the nearly four million retail locations serviced by First Data.

Consumer spending was also restrained by the termination of emergency unemployment insurance, a reduction in food stamp benefits and low-income growth, First Data said.

Columbus, Ohio – Net income at Express Inc. fell 25% during the fourth quarter of fiscal 2013, dropping from $63.9 million to $47.9 million. Net sales declined 2% from $731.7 million, to $715.9 million.

Same-store sales rose 1%. The company cited heavy promotions as impacting its quarterly results, which did not meet Wall Street expectations. Express intends to start opening outlet stores beginning in May 2014.

Cleveland - Sherwin-Williams is launching an online Spanish-language platform, SWLatino.com, focusing on Hispanic homeowners, contractors and designers. Sherwin-Williams will feature tips, how-to articles and color information from leading Hispanic bloggers and Sherwin-Williams color experts.

The new site, integrated with Sherwin-Williams Facebook and Twitter accounts, will connect Latino paint and color professionals, homeowners and designers with Spanish-language content.