Archer Daniels Midland adds former Coca-Cola exec to team
Archer Daniels Midland Company (ADM) has appointed Ben Bard as VP and global chief compliance officer, effective Jan. 20.
Bard will be responsible for ADM’s Office of Compliance and will oversee the company’s compliance policies and programs, including the code of conduct, ethics helpline, global anti-corruption program, trade compliance, antitrust and competition law, data protection, privacy and conflict of interest policies.
“Ben has extensive experience in managing global compliance and ethics programs, and his expertise and leadership will be invaluable as we continue to focus on policies and programs that reinforce ADM’s commitment to conducting business ethically and responsibly,” said Cameron Findlay, ADM SVP, general counsel and secretary.
Bard joins ADM after seven years at the Coca-Cola Company. As the principal ethics and compliance counsel within Coca-Cola’s global ethics and compliance office, he managed programs covering global trade sanctions, anti-corruption, third-party-integrity, due diligence and conflicts of interest. Prior to his time at Coca-Cola, Bard worked in a variety of compliance and risk management roles for Capital One Financial Corporation.
Bard earned a bachelor’s degree from Northwestern University in Evanston, Ill., and a Juris Doctor from Case Western Reserve University School of Law in Cleveland, Ohio.
Today, 30,000 ADM employees around the globe convert oilseeds, corn, wheat and cocoa into products for food, animal feed, industrial and energy uses. With more than 265 processing plants, 460 crop procurement facilities and a premier crop transportation network, ADM aims to connect the harvest to the home in more than 140 countries.
Holiday shopping in December up from 2012
In-store holiday sales during December 2013 are expected to come out ahead of in-store holiday sales during the same month in the previous year. Retail analytics provider Euclid analyzed nearly 25 million domestic shopping sessions during December, revealing that shopper traffic and window conversion improved as heavy promotions kept holiday shoppers coming.
Euclid analysis shows that traffic in December increased 4% compared to the previous month and 8.6% compared to the same month last year. Shopping visits continued to grow in December despite headwinds from weather in certain parts of the country, driven by a heavily promotional season. Despite a sluggish start to the month, shoppers left a lot of holiday shopping for the week before Christmas, and traffic picked up significantly. Traffic remained robust after the holiday, as shoppers looked to take advantage of inventory-driven discounts.
Window conversion in December, defined as the number of shoppers who enter a store as a percentage of the total foot traffic, rose to 8.9% from 7.5% the prior year and 8.8% in November 2013.The percentage of shoppers who entered a store but left within five minutes ("bounce rate") was 10.3% in December 2013, up from 9.9% in December 2012, but an improvement from the year’s high of 11.7% in November.
Shopping session duration, defined as the mean time from store entry to store exit, was 22.2 minutes in December, a decline from 22.5 minutes year-over-year, but the longest average duration measured since August 2013. Depressed average shopping durations were seen during the first half of the month, but this trend reversed itself as shoppers crammed a significant portion of their holiday shopping into the week before Christmas and became much more intent upon reaching a purchase.
In December, active repeat customers, defined as individuals returning to a store location more than once in 30 days, totaled 12.4% of total visits measured, up 0.5 percentage points from the previous month, but slightly less than the 12.9% seen in December 2012. Consumers were forced to make more trips to the store to accomplish their shopping in a shortened holiday period, resulting in the highest active repeat ratio since June 2013.
The best day of the month was “Super Saturday,” Dec. 21, with the month’s highest traffic and exceptional average duration as shoppers were very engaged in-store and intent on finishing holiday shopping. The worst day of the month was Monday, Dec. 2, which suffered from the lull following Black Friday. The day saw low window conversion and very high bounce rates as shoppers were waiting for new deals to materialize closer to Christmas.
99 Cents brings small format to Waco
Extreme value retailer 99 Cents Only will use its entry into the Waco, Texas, market to unveil a store format considerably smaller than any of its other locations.
The City of Commerce, Calif-based operator of 339 stores said its new store in Waco will open on Jan. 9 and measure about 13,000 sq. ft. That size is well below the company’s average store size of 21,000 sq. ft. and also below the range of 15,000 to 20,000 sq. ft. the company had previously identified as its sweet spot for new stores.
The company did not respond to email or telephone inquiries regarding the store and new market entry.
The Waco store will feature the typical promotional activity that has come to characterize 99 Cent Only grand openings. For example, the company will sell a variety of products that are not normally part of its product assortment for 99 cents to select customers who arrive early. A Westinghouse brand 40 inch flat screen television will be sold for 99 cents to the first nine customers in line. The next 99 customers in line may purchase a scooter for 99 cents and the next 99 customers can purchase a Crayola Color Explosion kit for 99 cents.
The new store is located at 5912 Bosque Blvd. and will feature a perishable food department offering produce, dairy and frozen products. More than half of the company’s annual sales of nearly $1.7 billion during the fiscal year ended March 31, 2013 came from the sale of food and beverages, including produce, dairy, deli and frozen foods, along with organic and gourmet foods.
The company currently operates 45 stores throughout Texas, along with 244 locations in California, 33 in Arizona and 17 in Nevada.