Best Buy Names New Merchandising Exec
Minneapolis, Best Buy Co. has appointed Tasso Koken as senior VP, merchandising, effective Tuesday, Jan. 3. Koken, 50, most recently served as VP and general merchandise manager of home electronics at Sears, Roebucks and Co.
“Tasso is proven leader with the ability to build strong teams and foster long-term alliances with key vendors,” said Ron Boire, executive VP and general merchandise manager, Best Buy.
Smart & Final Expands in California
Los Angeles, Smart & Final Inc. opened three new California stores in Modesto, Torrance and Gilroy. These new stores bring the total number of stores operated by the company to 249. Year to date, the company has opened 15 new stores and relocated two stores. The average size of the three new stores is about 19,350 sq. ft. The Los Angeles-based retailer of food and food service-supplies operates in six states and northern Mexico.
Wal-Mart Estimates 2.2% Comps in December
Bentonville, Ark., Wal-Mart Stores’ latest estimate for December comparable-store sales is 2.2%—at the low end of its original estimate of 2% to 4% gain. The company said strong demand for gift cards would have the effect of pushing many sales from December into January, when gift card recipients redeem their cards for merchandise. Many analysts were expecting sales closer to 3%.