Green Mountain appoints former P&G, Coke exec as new CEO
WATERBURY, Vt. — Green Mountain Coffee Roasters has named former P&G and Coca-Cola executive Brian Kelley as its new president and CEO, effective Dec. 3.
Kelley replaces Lawrence Blanford, who held the company’s top spot since 2007 and announced his plans to retire in Feb. With Blanford at its helm, Green Mountain acquired Keurig, a manufacturer of single-cup coffee machines, in 2006, making it one of the fastest-growing U.S. companies. Although the company’s market value increased five-fold with Blanford in charge, shares fell 41% this year.
Kelley comes on board during trying times for Green Mountain. Its patents are now expired and it faces increased competition from low-cost rivals. Green Mountain is also fending off questions about its business model and accounting practices.
"GMCR is a company with strong character and compelling purpose, coupled with strong brands and products about which consumers are passionate. With its truly disruptive Keurig brewing technology, GMCR’s accomplished something unique in the world of consumer products: it is changing consumer behavior by changing the way we brew and enjoy coffee," said Kelley. "I am honored and excited by the opportunity to lead this organization whose products have sparked unparalleled growth in specialty coffee, and I look forward to working with its dedicated employees to drive continued growth and to deliver new innovations."
Kelley joined Coca-Cola in 2007 as president and GM, Still Beverages and Supply Chain North America. The business consisted of all Coca-Cola juices, waters, teas, sports drinks, enhanced waters and energy drinks. He was charged with 15 major brands, including Vitaminwater, Smartwater, Simply, Minute Maid, odwalla, Fuze, Nestea, Dasani, Powerade and Gold Peak.
Kelley was chief product supply officer of Coca-Cola Refreshments since Oct. 2010, and was named president of Coca-Cola Refreshments in Sept. 2012, which was to be effective Jan. 1, 2013. In his prior role as president of North America Business Integration, he led the total integration of the acquisition of the North American assets of Coca-Cola Enterprises, combining Coca-Cola North America and Coca-Cola Enterprises’ North American operations into a new company, Coca-Cola Refreshments.
Macy’s Herald Square debuts ‘World’s Largest Shoe Floor’
NEW YORK — Never to be outdone during the holiday season, Macy’s Herald Square has unveiled its new “World’s Largest Shoe Floor,” featuring more than 250,000 pairs of women’s shoes in a new 63,000-sq.-ft. space on the second floor.
The $400 million renovation project boasts luxury shoe shops, a designer shoe salon, shoe closets inspired by New York City’s trendiest neighborhoods and a new coffee, champagne and chocolate bar. The project, which spans the iconic flagship’s entire second floor, also offers a nod to the building’s history. The windows have been renovated and made visible to the public for the first time in decades.
The selection of shoe brands includes Stuart Weitzman, RACHEL Rachel Roy, Dolce Vita, Vince Camuto, Lucky, Sperry, Nine West, I.N.C., Lauren, Nike, Puma, Keds, Clarks and Naturalizer. New shops from Calvin Klein, Coach, Michael Kors and Cole Haan round out the selection in the designer shoe salon and 29 new vendors will be located on the second floor, including French Sole’ Juicy Couture, L.A.M.B., La Fenice, Seven for All Mankind and Truth or Dare by Madonna. Prices range from $49 to $1,600 and sizes range from 5-12.
In conjunction with the renovation project, Macy’s introduced a new Macy’s Herald Square app to assist customers in navigating the Shoe Salon, as well as the rest of Macy’s Herald Square. In addition to the app, employees are equipped with state-of-the-art mobile scanning devices that give them access to inventory and allows them to determine the availability of a given size and style instantly. The floor also features 21 LCD monitors and four LED screens showcasing key trends, brands and styles, as well as Macy’s iconic brand imagery.
The Herald Square Café serves varieties of Starbucks Reserve coffees, champagne from Moët & Chandon, hand-crafted chocolates by Vosges Haut-Chocolat and an assortment of menu items. The café spans 1,434 sq.-ft. and seats 45. A grand clock fashioned after the original timepiece that overlooks Broadway Blvd. overlooks the communal champagne tasting table.
DSW steps up growth plan
Leading footwear retailer DSW said it would open between 25 and 30 new stores next year, adding to an existing base of 364 units.
The company disclosed its expansion plans in conjunction with the release of third quarter results that saw same store sales advance a hefty 6.1% and profits grow by double digits. Adjusted net income increased 17% to $46.6 million, or $1.02 per share, compared to $39.8 million, or $0.88 per share.
DSW president and CEO Mike MacDonald said the company was pleased with the results which extended to 13 the number of quarters in which same store sales have been in positive territory.
"During the quarter, we opened a record 26 new stores," MacDonald said. "We also paid a special dividend of $2.00 per share to DSW shareholders this quarter, the second such dividend in the last 13 months. Finally, we continued to make strategic investments that will enable DSW to maintain its growth trajectory."
Total sales for the period increased 11.7% to $593 million and through the first nine months of the company’s fiscal year sales are up 10.1% to nearly $1.67 billion.