News

Gordon Brothers Group, a global advisory, restructuring and investment firm specializing in the retail, consumer products, industrial and real estate sectors, has appointed Michael P. Muldowney as CFO. Muldowney also serve as a member of the executive committee.
 
Prior to joining Gordon Brothers Group, Muldowney was the founder and CEO of Foxford Capital, a strategic, financial advisory and investment management firm. Prior to this role, he served as interim CEO, EVP and CFO of global education leader, Houghton Mifflin Harcourt.

Sprouts Farmers Market has appointed Nancy LaMons as chief human resources officer.

LaMons was most recently as chief people officer at the Fiesta Restaurant Group. Previously, LaMons held senior positions at J.C. Penney and PepsiCo. LaMons has a bachelor’s degree in finance, an MBA with an emphasis on human resources, labor and industrial relations, and an Ed.M. with an emphasis in organization and leadership development.

Dick’s Sporting Goods reported healthy net income and increased e-commerce penetration in the first quarter despite experiencing significant challenges in the golf and hunting categories.

Net income increased 8% to $69.98 million from $64.82 million. Net sales increased 8% to $1.44 billion from $1.33 billion while sames store sales at Dick's store increase 2.3% but declined 10.4% and Golf Galaxy locations. The company anticipates an increase of 1.3% in same-store sales for both the second quarter and full fiscal year.

Despite seeing increases in net income and sales for the first quarter, TJX — parent company of TJ Maxx and Marshalls — experienced weakness in apparel sales and missed analysts’ expectations.

Net income for the quarter was $454.32 million, compared to $452.89 million from the prior-year quarter. Net sales increased 5% to $6.49 billion from $6.19 billion, but were weaker-than-expected — analysts were anticipating $6.6 billion.

Same-store sales remained flat.

As HSN breaks ground on its fourth Habitat for Humanity of Pinellas County home this month, HSNi Cares, the philanthropic arm of HSN's parent company HSN Inc, is set to launch a national campaign June 1 in support of Habitat for Humanity International.

Customers from these brands will have the opportunity to make a donation in support of the campaign when making purchases online and over the phone from June 1-30.

Minneapolis – Target Corp. cut the compensation of former CEO Gregg Steinhafel to $13 million in fiscal 2013 from $20.6 million in fiscal 2012. According to a regulatory filing, Target decided to reduce Steinhafel’s total compensation after holding meetings and calls with shareholders owning 40% of total company shares and two proxy advisory firms.

San Jose, Calif. – Brick-and-mortar retail sales fell 8.8% from January to April 2014 compared to the same period a year earlier. RetailNext analysis of almost 59 million specialty and larger format retail stores within the continental U.S. also shows that store traffic fell 8.2%.

Other findings include that brick-and-mortar transactions fell 9.2%, and, sales per store slipped 0.8%. However, two positive developments were an average transaction value increase of 0.5% and a 0.81% decrease in returns.

Wallingford, Conn. - Robert Price, former senior VP and chief marketing officer for CVS/pharmacy, has been named president of Edible Arrangements LLC. At CVS/pharmacy, Price led all marketing, advertising, sales promotion, e-commerce, customer insights, store design and customer loyalty programs.

Prior to CVS/pharmacy, Price's held positions with Wawa Food Markets; H-E-B Grocery Stores; Imasco Limited (the former parent company of Hardees and Roy Rogers Restaurants); and The Monitor Company, a strategy consulting firm.

Kansas City, Mo. - Healthy options are becoming increasingly important to customers of quick-service restaurants (QSRs). These latest trends are detailed in a new white paper, "QSRs and America's Changing Tastes," by Sullivan Higdon & Sink (SHS) FoodThink.

Key takeaways from this white paper by SHS FoodThink that hint at a desire for more from QSRs:

• Forty-eight percent of consumers want more opportunities to customize orders.

• Fifty-one percent want QSRs to give them more options for sides.

Hamilton, Bermuda - Signet Jewelers Ltd. has closed the offering of $400 million senior unsecured notes due 2024 by Signet U.K. Finance PLC (a wholly owned indirect subsidiary of Signet). The notes will bear interest at a rate of 4.7% per year and mature on June 15, 2024.