Genesco promotes company veteran as it plans for the future
Genesco Inc. announced that Mario Gallione has been named president of the company's Journeys retail division. He most recently served as chief merchandising officer of The Journeys Group.
Gallione will report to James C. Estepa, who will continue to serve as CEO of The Journeys Group. Estepa also remains a senior VP of Genesco. Gallione's appointment is intended as the first step in a succession plan to prepare for Estepa's eventual retirement.
Gallione is a 38-year employee of Genesco and has been associated with Journeys since 1994. In his new role, he assumes responsibility for all aspects of the Journeys and Journeys Kidz retail operations, including stores in the U.S. and Canada as well as journeys.com and journeys.ca.
"Mario Gallione is a seasoned leader, well respected within The Journeys Group, throughout Genesco, and across the footwear retail industry, and I look for Journeys to continue to do great things under his leadership," said Robert J. Dennis, Genesco's chairman, president and CEO.
Genesco Inc. sells footwear, headwear, sports apparel and accessories in more than 2,740 retail stores and leased departments throughout the U.S., Canada, the United Kingdom, the Republic of Ireland and Germany, principally under the names Journeys, Journeys Kidz, Shi by Journeys, Schuh, Schuh Kids, Little Burgundy, Lids, Locker Room by Lids, Lids Clubhouse, Johnston & Murphy, and on internet websites.
The company's Lids Sports Group division operates the Lids headwear stores, the Locker Room by Lids and other team sports fan shops and single team clubhouse stores. In addition, Genesco sells wholesale footwear under its Johnston & Murphy brand, the Trask brand, the licensed Dockers brand, G.H. Bass & Co., and other brands
Warehouse club giant tops estimates in August
Costco Wholesale Corp. turned in a strong performance in August, helped by a big increase in online sales.
Net sales rose 10% to $9.8 billion for the month of August, from $8.9 billion during the similar period last year. Total same-store sales rose 7.3%, higher than the 6.1% Wall Street expected. Same-store U.S. sales rose 7.4%, easily topping estimates for a 4.9% to 5.3% increase. Costco's comparable e-commerce sales jumped 26% in August.
"In recent months, Costco has experienced an improvement in online sales due to various factors including an improved merchandise selection, member value, greater website awareness, reduced delivery times and a better user experience," Barclays analyst Karen Short said in a research note on Thursday, reported The Street.
For the first 52 weeks of its 53-week fiscal year ended Aug. 27, Costco reported net sales of $123.5 billion, an increase of 6.4%. Same-store sales for that period increased by 4.3%.
Costco opened its ninth warehouse in Australia on August 31, 2017, and will open its 26th warehouse in Japan later this week. The company will end its fiscal year on September 3rd with 741 warehouses in operation, including 514 in the United States and Puerto Rico, 97 in Canada, 37 in Mexico, 28 in the United Kingdom, 26 in Japan, 13 in Korea, 13 in Taiwan, nine in Australia, two in Spain, one in Iceland and one in France.
Leslie’s Poolmart CEO to retire
The chief executive of the nation's largest specialty retailer of swimming pool and spa supplies and related products is stepping down.
Leslie's announced that chairman and CEO Lawrence Hayward will be retiring and transitioning from his role as CEO, effective September 30, 2017. He will continue to serve as chairman.
As part of the company's long-term succession plan, Steven L. Ortega, president and COO will succeed Hayward and assume the additional role of CEO, effective October 1, 2017.
Ortega joined Leslie's as CFO in 2005 and has served in his present role since 2015. His career spans 35 years in the retail industry which included a 16-year career at American Stores Company and seven years as executive VP and CFO of BI-LO Supermarkets.
Leslie's markets its products through over 900 retail store and commercial service locations in 35 states, a nationwide mail-order catalog and several internet e-commerce sites, including In The Swim. It is based in Phoenix, Arizona.