Callaway Golf to cut 12% of work force
Carlsbad, Calif. — Callaway Golf said Wednesday it will cut 150 to 170 jobs, or about 12% of its work force, as demand for golf equipment has weakened.
The eliminated jobs will span all regions and levels, said the retailer.
Callaway has downwardly revised its full-year forecast after announcing in April that it expected a significant improvement in fiscal 2012.
The job cuts are expected to generate about $52 million in annual savings.
Walgreens names ex-McDonald’s CEO as chairman
Deerfield, Ill. — Walgreens said Thursday that it has named retired McDonald’s CEO James Skinner as its new non-executive chairman of the board.
Skinner has served on the Walgreens board since 2005. He will succeed Al McNally, who has been non-executive chairman since 2009.
Walgreens said the change "is consistent with its board of directors succession and rotational planning process."
Retailer container traffic to see uptick in July
Washington, D.C. — Import cargo volume at the nation’s major retail container ports is expected to increase 1.6% in July compared with the same month last year, and modest year-over-year increases are expected through the holiday season shipping cycle, according to the monthly Global Port Tracker report released Tuesday by the National Retail Federation and Hackett Associates.
“Whether consumers are going to have the confidence to spend during the next few months depends on what happens with employment, but retailers are being cautiously optimistic,” said NRF VP supply chain and customs policy Jonathan Gold. “Sales can fluctuate from month to month, but these import numbers show that retailers are still expecting this year to be better than last year.”
U.S. ports followed by Global Port Tracker handled 1.34 million Twenty-foot Equivalent Units in May, the latest month for which after-the-fact numbers are available. That was up 4.1% from April and 2.3% from May 2011. One TEU is one 20-ft. cargo container or its equivalent.
June remained at an estimated 1.34 million TEU, the same as May but up 4.7% from June 2011. July is forecast at 1.38 million TEU, up 1.6% from last year; August at 1.44 million TEU, up 6.2%; September at 1.45 million TEU, up 6.8%; October at 1.47 million TEU, up 12.6% over lower-than-usual numbers last year; and November at 1.3 million TEU, up 2%.
The first half of 2012 totaled an estimated 7.5 million TEU, up 2.6% from the same period last year. The total for 2011 was 15.1 million TEU, up 0.6% from 2010. NRF projects 2012 retail sales will grow 3.4% to $2.53 trillion.
Numbers in this month’s report reflect the addition of Miami to the list of ports covered.