Boire to head Toys ‘R’ Us North America
Wayne, N.J. Toys “R” Us Inc. has selected a new president to oversee their North American market, the company said Monday.
Ron Boire, current president of Toys “R” Us Inc.’s U.S. division, will assume his newly acquired position immediately. With this announcement, Boire will be responsible for operations that occur in both the United States and Canada, and is said to manage the company’s stores and e-commerce business in each country.
“Ron is a tremendous business leader who has made significant improvements in all aspects of our U.S. toy business,” said Jerry Storch, the company’s chairman and ceo. “We look forward to his continued leadership in maximizing synergies and identifying best practices to leverage across our North American businesses.”
Boire said he is looking forward to the collaborating with both countries, and says he will continue to advance the company’s specialist positions as the North American president of the chain.
Seasonal categories aid Family Dollar sales
MATTHEWS, N.C. Family Dollar Stores reported that net sales for the four weeks ended Sept. 1 increased 3.4% to approximately $494.4 million from $478.3 million for the comparable four-week period ended Sept. 2, 2006. According to the company, the sales increase was aided by strong performance in the food and seasonal categories, primarily toys and lawn and garden, while sales of apparel were softer. Comparable-store sales for the four-week period increased 1% when compared with sales for the similar four-week period last year.
Sales for the fourth quarter of fiscal 2007 ended Sept. 1, were approximately $1.63 billion, or 3.4% above sales of approximately $1.58 billion for the fourth quarter of fiscal 2006 ended August 26, 2006. For the year ended Sept. 1, sales were approximately $6.8 billion, or 6.9% above sales of approximately $6.4 billion for the year ended Aug. 26, 2006.
The company reported that it anticipates earnings per diluted share for the fourth quarter to be in the range of 24 cents to 27 cents compared with 21 cents per diluted share for the fourth quarter last year. For the full year, the company currently expects net income per diluted share to be between $1.60 and $1.63 compared with $1.26 per diluted share for the prior fiscal year.
The company expects that comparable-store sales for the September period ending Oct. 6, will increase 1% to 3%.
Burlington Coat Factory 1Q sales up 2.6%
BURLINGTON, N.J. Burlington Coat Factory Warehouse announced today that net sales from continuing operations for the first quarter ended Sept. 1 were $673.9 million compared with $656.8 million for the first quarter ended Sept. 2, 2006, a 2.6% increase. These results reflect a 2% comparable-store sales decrease for the quarter. June comparable-store sales decreased 2.1%, July comparable-store sales decreased 3.7% and August comparable-store sales decreased 0.6%, compared with the same periods last year.