OPERATIONS

Build-A-Bear Workshop names Stride Rite exec as chief product officer

BY Dan Berthiaume

St. Louis – Build-A-Bear Workshop Inc. has appointed Jennifer Kretchmar as chief product officer. Kretchmar will lead the company’s merchandising and product development teams and will report to Sharon John, CEO of Build-A-Bear Workshop.

She will be responsible for product development, design, quality, sourcing, merchandising, planning, and wholesale. Kretchmar most recently held the position of senior VP of product and brand management with the Stride Rite Children’s Group of Wolverine World Wide where she was responsible for the global product creation strategy for a diverse portfolio of children’s footwear brands including Stride Rite, Sperry Top-Sider, Saucony, Keds, Merrell, Robeez, Jessica Simpson and Hush Puppies. She also has experience in a number of business models including specialty retail, wholesale and international franchising.

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FINANCE

Provide Commerce purchase hits FTD profit

BY Dan Berthiaume

Downers Grove, Ill. – Net income dropped 14.5% at FTD Inc. to $4.7 million in the second quarter of fiscal 2014 from $5.5 million in the same period the prior year. Costs related to FTD’s planned purchase of Provide Commerce were primarily responsible for the decline in net income.

Consolidated revenues increased 2.3% to $168.1 million for second quarter 2014, compared to $164.3 million in the same period of the prior year. The increase in consolidated revenues in second quarter 2014 was due to increased revenues in the international and florist segments and favorable foreign currency exchange rates, partially offset by lower revenues in the consumer segment.

In addition, FTD received the 2014 Women’s Choice Award seal from WomenCertified Inc. The award recognizes brands that are most recommended by women.

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FINANCE

Metro has medium Q3 growth

BY Dan Berthiaume

Montreal – Canadian grocery retailer Metro Inc. reported medium results for its third quarter fiscal 2014. Net earnings for third quarter 2014 were $144.5 million, an increase of 0.1% from net earnings of $144.4 million for the same quarter of 2013.

Sales in third quarter 2014 totaled $3.62 billion, up 1.4% compared to $3.57 billion for the same quarter the prior year. Same-store sales were up 1%. Metro’s aggregate food basket experienced inflation higher than previous quarters but lower than the consumer price index of food purchased from stores. The company attributed merchandising strategies and investments, as well as a reorganization of its Ontario store network, as enabling sales growth in a competitive market.

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