FINANCE

Gap’s February Q4 same-store sales rise 3%, topping estimates

BY Staff Writer

New York — Gap Inc. said Thursday that its February same-store sales rose a better-than-expected 3% for the four weeks ended Feb. 25. Analysts expected a 2% increase.

The chain was due to release the sales figures after the market closed, but put them out at midday after they were found in a leaked transcript of prerecorded comments.

By division, same-store sales rose 2% at Gap and 6% at Old Navy. They fell 5% at Banana Republic.

Total revenue increased 11% to $966 million for the four weeks ended Feb. 25, boosted by a calendar shift.

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Mar-08-2013 02:54 am

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Mar-08-2013 02:54 am

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OPERATIONS

Dunkin’ Brands appoints three new presidents; names SVP, chief supply officer

BY Staff Writer

Canton, Mass. — Dunkin’ Brands Group, parent company of Dunkin’ Donuts and Baskin-Robbins, announced that it has appointed three members of the company’s senior management team to the role of president.

John Costello has been appointed president, global marketing & innovation, and he will continue to lead all global marketing, product development and channel businesses across both Dunkin’ Donuts and Baskin-Robbins.

Bill Mitchell has been appointed president, Baskin-Robbins U.S. & Canada, and he will continue to lead the Baskin-Robbins operations team.

Paul Twohig has been appointed president, Dunkin Donuts U.S. & Canada. He will continue to lead the Dunkin’ Donuts operations, franchising and development teams.

The company also appointed Scott Murphy as SVP, chief supply officer.

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OPERATIONS

rue21 names chief administrative officer

BY Staff Writer

Warrendale, Pa. — rue21 announced that Stacy B. Siegal, the company’s current VP, general counsel and corporate secretary, has been promoted to the additional position of chief administrative officer.

Siegal has served as the company’s general counsel and corporate secretary since March 2010. In her expanded role, she will assume responsibility for human resources division while also retaining oversight of the company’s legal matters, regulatory compliance and corporate communications.

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