Dollar Tree names new CEO
There's been a changing of the guard at Dollar Tree as the man who grew the chain into a $22 billion retail powerhouse moves on to a new role.
The discounter has appointed Gary Philbin, enterprise president, as CEO, effective immediately. He succeeds Bob Sasser, who will become executive chairman of Dollar Tree's board.
Philbin, 60, joined Dollar Tree in 2001 as senior VP of stores, and was promoted to COO in 2007. He assumed the role of president and COO of Family Dollar upon its acquisition by Dollar Tree. In January 2017, Philbin was promoted to enterprise president with responsibilities for both Dollar Tree and Family Dollar banners.
"Bob (Sasser) has led Dollar Tree to industry-leading returns for shareholders and success for all of our stakeholders,” stated Philbin. “Our retail business model can operate successfully in tough times and good times, as we have demonstrated under Bob’s leadership as CEO.”
Sasser, 65, oversaw Dollar Tree's $9.1 billion acquisition of Family Dollar in 2015. He joined Dollar Tree in 1999 as COO. He was promoted to president and COO in 2001, and to president and CEO in 2004.
During Sasser’s tenure, Dollar Tree grew from a company with fewer than 1,200 stores in 33 states; four distribution centers; and less than $1 billion in annual sales to a company with more than 14,500 retail stores; and an international supply chain with 24 distribution centers across North America. For 2017, revenues are projected to exceed $22 billion. The company completed six acquisitions during Sasser’s tenure.
"Working with our board of directors, I have been planning leadership succession for some time and we are confident this will be a seamless transition, both inside and outside of the company," Philbin stated. "Our board of directors and leadership team have complete confidence in Gary’s ability to lead Dollar Tree through its next phases of growth.”
Dollar Tree operates stores under the brands of Dollar Tree, Family Dollar and Dollar Tree Canada.
Marie Claire dresses up first-ever pop-up store with technology innovations
An 80-year-old fashion magazine is using technology to bring the fashion, beauty and entertainment featured on its glossy pages to life.
Marie Claire is launching a pop-up store called “The Next Big Thing Concept Shop.” The store, which is located in New York City’s SoHo neighborhood, is organized by the magazine’s three main sections: @Play, which focuses on recreation; @Peak, a section based on wellness, and @Work, which is focused on career. Neiman Marcus stylists will provide advice and tips on the latest selection all designer fashions available at the store.
The iconic magazine is integrating different technology innovations, supported by MasterCard technology, to engage shoppers throughout their store visit. For example, dressing rooms feature interactive mirrors from Oak Labs that recommend accessories for outfits, and Clarins beauty counters display Sensor Mirror Pro virtual skincare mirrors, which were developed by MemoMi.
The store also features an integrated mobile app that enables visitors to make seamless cashless transactions — supported by MasterCard — from anywhere within the store, including the fitting room mirrors. Customers can also use the app to book one-on-one appointments with Neiman Marcus fashion stylists, and sign up for a variety of in-store events and activities.
“Since its inception, Marie Claire has led influential and important women on the path to discovery, proving that curiosity is the best currency,” said Marie Claire VP/publisher Nancy Berger. “We’re excited to share what’s new and what’s next, while offering New Yorkers to experience the future of shopping with our partners at Mastercard.”
The store will be open between Sept. 21 and Oct. 12.
The Tile Shop expands in Michigan
The Tile Shop has expanded its presence in greater Detroit with the opening of its sixth metro store in Troy.
The new location features 14,750 sq. ft. of showroom space and over 4,000 tile designs for consumers and the professional trade. It also features more than 30 fully decorated displays providing design inspiration
The Tile Shop in Troy includes an on-site design and education center featuring the retailer’s digital “design studio," a collaborative platform that allows customers to create customized 3D design renderings to scale. The Tile Shop’s Pro Network, geared for trade professionals, includes tile specification sheets, instructional videos, tiered discounts, jobsite delivery, in-house credit, and customer referrals.
The Tile Shop currently operates 134 stores in 31 states and the District of Columbia, with an average size of 20,500 sq. ft. and sells products online via its website.