BJ’s taps LogicSource for print procurement and management
Norwalk, Conn. — BJ’s Wholesale Club has reached a multi-year agreement with LogicSource Inc. to provide enhanced print procurement and management services that will deliver significant cost savings to BJ’s. Terms were not disclosed.
LogicSource will provide onsite co-sourcing for all of BJ’s print procurement needs by collaborating with BJ’s to identify new potential supply chain partners and procurement efficiencies.
"The co-sourcing model offered by LogicSource is a great fit for us,” said Julie Reed, VP strategic sourcing and procurement and chief procurement officer. “Our onsite team will have the enhanced technology, processes, and resources they need to drive to the next levels of cost savings, innovation, and efficiency for BJ’s."
Tuesday Morning reports 2Q loss, names new COO
DALLAS —Tuesday Morning reported that for the second quarter, the company’s net sales increased 4.5% to $285.3 million, from $273.1 million in the second quarter of fiscal 2012.
The company reportd that its net loss for the quarter was $21.5 million, or 51 cents per share. The company reported net income of $15.9 million or 37 cents per share in the second quarter of fiscal 2012.
Brady Churches, president and CEO, stated, "We are pleased with our initial sales progress, which was driven by enthusiastic customer response across a range of seasonal merchandise and well-received deals during the second quarter. This does not, however, obscure the challenges ahead, which includes the need for a major revitalization across every facet of our operations. While the company has taken some positive first steps in this regard, including a difficult but necessary inventory write-down, much work remains to restore Tuesday Morning’s core value proposition."
Comparable-stores sales increased by 5.6% compared to the second quarter of fiscal 2012 and were comprised of a 5.3% increase in average ticket and a 0.3% increase in traffic.
Earlier the company announced that John Rossler as EVP, COO, effective immediately. Rossler has been serving as an executive advisor to Tuesday Morning since October, 2012, and his focus has been primarily on operational efficiencies, including overall cost control, supply chain and real estate. His distinguished career in retail includes serving as president and CEO of DSW Inc. and Retail Ventures Inc.
"John Rossler is precisely the operational expert we need to help execute Tuesday Morning’s revitalization," said Brady Churches, president and CEO of Tuesday Morning. "From store operations to supply chain to improved real estate strategies, the company will benefit from John’s relentless attention to detail and proven retail track record."
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Sylvania to keep lighting up NH track
The New Hampshire Motor Speedway will be home to the Sylvania 300 NASCAR race for five more years following the renewal of a sponsorship agreement.
North American lighting leader Osram Sylvania said it extended its title sponsorship of the race through 2017 with the operator of New Hampshire’s largest sports and entertainment facility. Osram Sylvania has sponsored the race for the past 10 years.
"The relationship with (New Hampshire Motor Speedway) for the past ten years and 3,000 miles of the Sylvania 300 has been valuable to our company and brand," said Rick Leaman, president and CEO of Osram Sylvania. "Just like the nature of NASCAR racing, Osram Sylvania has strived to build a high-performance culture that is reflected in its people, products and services, and we are looking forward to the next five years of exciting NASCAR racing and engaging the brand loyal fans."
Although NASCAR attendance and television viewership has suffered in recent years, the Sylvania 300 has benefited because it is one of the 10 races at the end of the NASCAR season that are part of the Chase for the NASCAR Sprint Cup. The race tends to be one of the more highly rated of the season and the track can accommodate more than 100,000 visitors.
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