Buckle names veteran as VP of stores
Kearney, Neb. — The Buckle, Inc. has named Kari G. Smith to the newly created position of executive VP of stores effective immediately. In her new role, Smith will continue to provide leadership related to all aspects of the in-store shopping experience for Buckle’s customers; including the education and development of Buckle’s sales team.
Smith has been employed by Buckle since May 1978, when she started as a part-time salesperson. She has served in several roles of increasing responsibility since that time, serving in her current position as VP of sales since May 2001
Jan. retail sales take a hit from Mother Nature
Consumers leveled off post-holiday shopping and spending in the beginning of the year due in part to severe winter weather in much of the country. According to the National Retail Federation (NRF), January 2014 retail sales, excluding automobiles, gas stations and restaurants, were flat seasonally adjusted month-to-month, yet increased 3% unadjusted year-over-year.
January retail sales released by the U.S. Census Bureau, which include categories such as automobiles, gasoline stations, and restaurants, decreased 0.4% seasonally adjusted month-to-month, yet increased 2.6% adjusted year-over-year.
Other findings from the January retail sales report include:
- Building material and garden equipment and supplies dealers stores’ sales increased 1.4% seasonally-adjusted month-to-month and 3.3% unadjusted year-over-year.
- Clothing and clothing accessories stores’ sales decreased 0.9% seasonally-adjusted month-to-month, yet increased 1.4% unadjusted year-over-year.
- Electronics and appliance stores’ sales increased 0.4% seasonally-adjusted month-to-month, yet decreased 4.9% unadjusted year-over-year.
- Furniture and home furnishing stores’ sales decreased 0.6% seasonally-adjusted month-to-month, and 2.1% unadjusted year-over-year.
- General merchandise stores’ sales decreased 0.1% seasonally-adjusted month-to-month, yet increased 1.4% unadjusted year-over-year.
- Health and personal care stores’ sales decreased 0.6% seasonally-adjusted month-to-month, yet increased 3.1% unadjusted year-over-year.
- Non-store retailers’ sales decreased 0.6% seasonally-adjusted month-to-month, yet increased 6.5% unadjusted year-over-year.
- Sporting goods, hobby, book and music stores’ sales decreased 1.4% seasonally-adjusted month-to-month and 1.5% unadjusted year-over-year.
“Following a solid holiday sales season, it seems that many consumers decided to take a break from the stores and shopping malls this January in an attempt to avoid winter weather,” NRF president and CEO Matthew Shay said. “While the dip in retail sales was somewhat anticipated, it is concerning that both jobless claims came in above projections and that consumer spending were flat in January; it’s not the way to kick off a new year.
Burger King net income soars, revenue crashes
Miami — Burger King Worldwide Inc. reported impressive net income growth during the fourth quarter and full fiscal year 2013. Consolidated net income rose 37% year-over-year to $66.8 million from $48.6 million in the quarter, and almost doubled from $117.7 million to $223.7 million for the year.
Interestingly, consolidated revenues went in the opposite direction. For the quarter, revenues dropped 34% to $265.2 million from $404.5 million. During the fiscal year, revenues declined about 42% to $1.15 billion from $1.97 billion. Consolidated same-store sales grew 1.7% during the quarter and 1.5% during the year.
Burger King said fourth quarter total reported revenues declined from the prior year primarily due to the net refranchising of 360 company-owned restaurants in 2013.
“2013 was an important year for Burger King Worldwide as we grew our brand presence around the globe and made significant progress towards achieving our long-term strategic goals,” said Daniel Swartz, CEO of Burger King Worldwide. “We completed our global refranchising initiative, fundamentally transforming our business model and putting restaurant operations into the hands of our experienced franchisees. In North America, our focus on launching fewer, more impactful products helped drive improved sales trends as the year progressed. We grew comparable sales across all three international regions, opened 670 net new restaurants globally, and formed joint ventures in France and India to lay the foundation for continued expansion. We believe that we have the right team in place to capitalize on this success in 2014 and generate long-term value for franchisees and shareholders."