Christopher & Banks Corporation names COO/CFO
Minneapolis — Christopher & Banks Corporation announced that Peter G. Michielutti has been promoted to executive VP, COO and CFO, effective immediately.
Michielutti was previously senior VP and CFO, having joined the company in April 2012.
Regional grocers’ sales grow faster than profits
Publix Super Markets and Weis Markets reported respectable second quarter sales growth, but profits were harder to come by.
Publix, the nation’s fifth largest supermarket chain, said sales for its second quarter increased 6.6% to $7.5 billion, with 1.3% of the gain related to the timing of Easter. Same store sales increased 6.3%. Despite the top line improvement, Publix said profits increased slightly less than 1% to $404.1 million from $400.9 million while earnings per share increased by a penny to 52 cents.
At the mid-point of the year, Publix sales have increased 5.3% to $15.3 billion and same store sales are up 5.1%. Profits have increased 2.9% to $898 million, or $1.15 a share, compared to $872 million, or $1.12 a share.
The company ended the quarter with 1,077 stores in Florida, Georgia, Alabama, South Carolina, Tennessee and North Carolina.
To the north of Publix’s trade area, Weis Markets said sales at its 163 stores in Pennsylvania, Maryland, New Jersey, New York and West Virginia increased 4.5% to $692 million and same store sales advanced 2.9%. Profits during the period ended June 28 declined 47.1% to $12.8 million, or 48 cents a share, from $24.2 million, or 90 cents a share.
"This is a year of planned recalibration for our company and one where we are reinvesting in increased sales and market share to better ensure our long-term growth," said Jonathan Weis, president and CEO of Weis Markets. "We have achieved these sales results despite self-imposed grocery department deflation due to our pricing initiatives. Our investments in these price reductions and other sales building programs have resulted in higher sales per customer and an increased customer count.”
Year to date, Weis’ sales have increased 2.5% to $1.4 billion while comparable store sales increased slightly less than 1%. Profits through the first six months have declined 37.8% to $27.6 million, or $1.02 a share, compared to $44.3 million, or $1.65 a share.
ODP drives Florida traffic to stores with discount offer
As part of its efforts to generate traffic this back-to-school season, Office Depot is offering teachers in Florida a 20% discount off qualifying purchases during its Office Depot Rewards and MaxPerks Teacher Appreciation Events.
The events will be held at Office Depot and OfficeMax stores across Florida during select weeks this summer. In Florida, they’ll be taking place from August 2 through August 5.
The events will offer teachers free giveaways and product samples from event sponsors such as Avery, Bic, Pilot, Carson-Dellosa, Paper Mate, Sharpie, Expo, Crayola, Scotch and Post-it. Teachers will also receive a free, reusable tote bag, while supplies last.
Teachers will also receive a 20% discount on qualifying purchases that is valid in stores only and which is not valid for purchases made in Office Depot or OfficeMax convenience, clearance or closing stores; gift or prepaid cards; any technology or consumer electronic products and accessories or media and software products; any ink and toner; performance protection/MaxAssurance plans and Essentials kits; postage or mailing/shipping services; cardfolio business cards; any technology or third-party services; or premiums/free gifts with purchase.
Members of the program earn points for shopping, connecting and recycling. Enrollment in the program is free and can be done at any Office Depot store or online at officedepot.com/rewards.