The Buckle shuffles leadership
Kearney, Neb. – Michelle Hoffman has been appointed to the position of VP of sales and Kyle L. Hanson has been appointed to the position of VP, general counsel, and corporate secretary at The Buckle Inc., both effective immediately.
The company also made the following changes to its leadership team:
- Karen B. Rhoads has been appointed senior VP of finance and CFO from her current position as VP of finance and CFO, which she has held since 1991.
- Brett P. Milkie has been appointed senior VP of leasing from his current position as VP of leasing, which he has held since 1996.
- Patricia K. Whisler has been appointed senior VP of women’s merchandising from her current position as VP of women’s merchandising, which she has held since 2001.
- Robert M. Carlberg has been appointed senior VP of men’s merchandising from his current position as VP of men’s merchandising, which he has held since 2006.
Costco Q2 profit falls 15%; will open 14 U.S. stores
Issaquah, Wash. – Costco Wholesale Corp. reported a bigger-than-expected 15% drop in net income for the second quarter amid deep-discounting during the holidays. Net income in the quarter ended Feb. 16 fell to $463 million from $547 million.
Costco blamed the lower earnings on several factors, including weaker sales of certain nonfoods merchandise categories and lower international profits. The year-ago period was also helped by a tax benefit.
The company noted that last year’s net income was positively impacted by a $62 million tax benefit.
“Even with that distinction, however, the year-over-year comparison was unfavorable,” said CFO Richard Galanti. “Despite satisfactory sales results during the second fiscal quarter, several other factors led to lower earnings. These factors included: weaker sales and gross margin results in certain non-foods merchandise categories, particularly during the four-week holiday selling season; weaker gross margins in our fresh foods business; and lower reported international profits, resulting from the significant weakening of foreign exchange rates.”
Net sales increased 6% to $25.76 billion, from $24.34 billion. Total same-store sales rose 3%. Costco cited a positive tax benefit the company received in fiscal 2012, as well as weaker sales and gross margins in several product categories and unfavorable foreign currency exchange rates as impacting its net income.
Costco also said it plans to open 14 new stores in the U.S. by the end of fiscal 2014.
Oscar Mayer rolls out sizzling app
Oscar Mayer is giving bacon lovers a reason to wake up early. The brand has unveiled the first-ever iOS device that wakes people up with the smell of bacon. The device, called Wake Up & Smell the Bacon, syncs with the Oscar Mayer Wake Up & Smell the Bacon iPhone app to emit the scent and sound of sizzling bacon when the rooster crows.
Bacon lovers everywhere can apply from now through Friday, April 4 at http://wakeupandsmellthebacon.com/ for a chance to receive a free Wake Up & Smell the Bacon device. To use it, download the Wake Up & Smell the Bacon app and plug the detachable device into the headphone jack of an iPhone. The device will not be sold in stores and quantities are limited, so fans are encouraged to apply early and often.
Those who do not receive a device will still be able to download the Wake Up & Smell the Bacon application free in the App Store so they can wake up to the sound of sizzling bacon and bacon sayings or "baconisms."
Wake Up & Smell the Bacon is the latest brainchild of the Oscar Mayer Institute for the Advancement of Bacon, an online hub for bacon innovations from the Oscar Mayer brand. Last year OMIFAB created an e-commerce site to help consumers give the gift of bacon for Father’s Day in its Say It with Bacon campaign.
"With nearly 2 million mentions of #bacon on Instagram, it seems people never get tired of bacon. That’s why our team decided to develop a device to give folks what they long for most," said Tom Bick, senior director of integrated marketing and advertising at Oscar Mayer. "As the category leader, Oscar Mayer is thrilled to bring the first-ever, bacon-scented mobile device to market, giving bacon aficionados a new reason to welcome their morning alarm clocks."
Winning applicants will receive the Wake Up & Smell the Bacon device six to eight weeks after applications close. Bacon fans may apply for their chance to win the device once a day.