Body Shop parent posts 128% profit growth in Q2
Jacksonville, Fla. — Body Central Corp., operator of the Body Central and Body Shop retail chains, reported Friday that net income for the second quarter was $5.3 million, compared with $2.3 million in the year-ago period.
Net revenues increased 22.1% to $74.7 million, compared with $61.2 million for second quarter 2010. Same-store sales increased 14.7%.
Ingles Markets Q3 profit up 11%
Asheville, N.C. — Ingles Markets reported Friday that profit for the quarter ended June 25 rose 11% to $12.7 million, compared with $11.4 million in the year earlier period.
Revenue increased 6% to $911 million from $856.1 million. Same-store sales, excluding fuel, rose 2%.
New execs named at OfficeMax contract business
NAPERVILLE, Ill. — OfficeMax announced that it has appointed Mike MacDonald as EVP and president of its global contract organization and Steve Mongeau as SVP sales and growth initiatives, effective Aug. 15.
MacDonald will report to Ravi Saligram, president and CEO of OfficeMax, and will be responsible for all aspects of the global contract business P&L. Mongeau will report to MacDonald and will spearhead initiatives to enhance the company’s proposition for small to mid-market customers and the sales aspects of growth opportunities such as print services and solutions. In addition, the OfficeMax contract leadership team, including the field sales and vertical leaders, functional heads and the leaders of the customer service operations team and the Australia/New Zealand and Canada business will report to MacDonald. He will also oversee OfficeMax’s relationship in Europe with Lyreco to serve OfficeMax’s global customers.
"The appointment of these two strong leaders to our Contract business is an exciting and pivotal move as we drive innovation and expand our offerings to targeted segments of our business customers," said Saligram.
MacDonald has more than 30 years of experience at Xerox in general management, sales and marketing leadership roles. His last 10 years of experience includes serving as president of North America, where he had P&L responsibility for all products, services and solutions sold by the direct sales force representing about $6.5 billion in revenue, president of marketing operations and global accounts; and most recently corporate senior vice president of operational effectiveness. He also served on the company’s strategy committee. He currently serves as lead director for PAETEC Holding and is a director of Medifast Inc. He is a graduate of Rutgers University.
Mongeau has extensive experience in driving sales efforts for office solutions and leading small businesses. He was most recently CEO of Pietzo Hybrid Electric Bikes in Bedford, Mass., and prior to that, senior vice president of sales and marketing for Eduventures, Inc. in Boston. He previously spent 14 years with Staples, Inc., including serving as SVP Staples Business Advantage where he drove significant growth. He was also VP sales and marketing for Staples Direct, where he helped develop and grow a direct/delivery model for small business customers. He is a graduate of Cornell University and serves as chair of the board of directors for Samaritans of greater Boston.