Goodyear names chiefs marketer for North American Tire consumer business
AKRON, Ohio The Goodyear Tire & Rubber Co. announced that Scott Rogers has been named chief marketing officer for the company’s North American Tire consumer business. In this newly created role, Rogers will oversee all aspects of advertising and marketing for the company’s consumer tire business, including the Goodyear, Dunlop and Kelly brands.
Rogers had been SVP marketing and sales for Norwegian Cruise Line in Miami since 2005. Prior to that, Rogers served in a number of positions for The Procter & Gamble Company in Cincinnati, Ohio, between 1992 and 2005. His positions included marketing director of multiple brands within the P&G portfolio in North America. He also served as marketing director of the P&G customer team assigned to Target Corp.
Lowe’s looking at Sam’s Club sites
The Canadian division of Sam’s Club, the club warehouse stores belonging to Wal-Mart, will close all six of its stores in March so it can focus on opening more Wal-Mart “supercentres” across Canada. The decision, announced on Feb. 26, may provide some new opportunities for Lowe’s, the U.S. home improvement retailer also looking to expand in Canada.
Maureen Rich, a Lowe’s spokeswoman, confirmed that the company is “in talks with Wal-Mart regarding the sites.” The six Sam’s Club stores are all located in Ontario, Pickering, Vaughan, Richmond Hill, London, Etobicoke and Cambridge.
Lowe’s Canada, headquartered in Toronto, Ontario, is currently building three units in the province, all scheduled to open by the end of August. The Mooresville, N.C.-based retailer already operates 11 stores in Canada. Eventually, the company has said, it wants to open 100 stores north of the U.S. border.
Rich told Home Channel News that Lowe’s Canada “continues to evaluate [other] sites” as well as the Sam Club’s locations.
Slower growth means more cash
With fewer new stores opening this year and next, and share repurchase activity on hold, Target stands to more rapidly accumulate a stockpile of cash. The company’s capital budget this year will fall within a range of $2 billion to $2.5 billion, well below last year’s levels, and the suspension of share repurchase activity means, “that we are likely to enjoy one of our strongest years ever in generation of free cash flow,” according to CFO Doug Scovanner. “Specifically, I expect Target to again generate more than $4 billion in cash from operation in 2009.”