News

DSW Expands Management Team

BY CSA STAFF

Columbus, Ohio, DSW Inc. announced the promotion of two key executives and named two new officers as part of an ongoing initiative to position the company for continued growth and increased profitability.

Deborah Ferree, who joined DSW in 1997 and has held several executive positions, was promoted from president to vice chair. She will continue in her role as chief merchandising officer. Peter Horvath, who joined the firm in January 2005 as executive VP and COO, was promoted to president.

Additionally, Kevin Lonergan was named as executive VP and COO. He is a former executive VP and COO of Old Navy, a division of Gap.

The company also named William Jordan as VP and general counsel. He most recently served as corporate counsel for Lancaster County Corp.

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News

Federated Consolidates Distribution

BY CSA STAFF

Cincinnati, The repercussions of the massive Federated and May merger are playing out in the supply chain, with a major plan to close five distribution centers in 2006. The move is part of a nationwide consolidation of Federated Department Stores’ distribution center network to maintain efficiency and reduce duplication as it realigns its Macy’s operating divisions, as previously announced. The five facilities closing in 2006 are among 31 distribution centers operated by the company.

Closing in June 2006 will be distribution centers in Manchester, Conn.; Baltimore; Aurora, Colo.; Portland, Ore.; and Salt Lake City. Responsibility for merchandise handled by these facilities will be shifted to other distribution centers operated by Federated in each region of the country.

“Advances in logistics and distribution center technology allow us to handle a larger volume of goods more effectively with fewer facilities that are more regional in nature. This helps us to deliver fresh fashion merchandise to the selling floors of our stores more quickly and consistently across the country,” said Tom Cole, Federated vice chair. “Streamlining our distribution center network to reduce redundancy and expense also is important to our ability to deliver value to our customers and shareholders.”

Distribution center consolidations are consistent with Federated’s previously announced estimates to realize approximately $175 million in cost synergies in 2006 and $450 million in annual cost synergies in 2007 and beyond as a result of the May Company merger.

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FINANCE

Gas Sales Lift The Pantry

BY CSA STAFF

Sanford, N.C., Gasoline-related profits boosted the first quarter results of convenience store chain The Pantry. The company expects to report earnings per share for the quarter ended Dec. 29 of between $1.43 and $1.48, more than twice its earnings per share from the same quarter a year ago. The company will release its full results for the quarter on Jan. 26.

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