Haggar Clothing promotes marketing, sales executives
DALLAS — Haggar Clothing, which makes casual and fine apparel for men, has promoted two executives to key positions within the company’s merchandising and sales organizations.
Nancy Dowling has been promoted to VP merchandising and design. She previously served for three years as the director of design for men’s casual for the Haggar brand. Under her direction, the brand has increased market share by over 16%, adding innovative new products and collections to the Haggar brand offering.
Tad Parnell has been promoted to SVP national sales manager. Parnell has a long history with Haggar spanning over 25 years in a variety of sales positions. Most recently he led the JCP, Stage and AAFES Exchange teams in multiple years of compounded growth.
The promotions of Parnell and Dowling form an integrated product and sales team focused on growth initiatives and the development and execution of new strategic opportunities.
"This is an exciting time for Haggar. We’ve had remarkable brand and product performance over the last three years," said Tim Lyons, president of Haggar Clothing Co. "Elevating Tad and Nancy to these key leadership positions is part of a strategic alignment initiative to position Haggar for accelerated growth in the near and long term. Both are extremely competent performers with long histories of strong leadership and success. I am thrilled for Tad and Nancy and anticipate great results from them and the teams they will be leading."
Weis Markets net income up 12.7%
SUNBURY, Pa. — Weis Markets reported that it’s net income increased 12.7% to $23.2 million in net income while its earnings per share increased 11.7% to 86 cents per share, compared with 77 cents per share for the same period in 2011. Second quarter operating income increased 11.4% to $35.3 million.
Second quarter sales increased 0.1% to $677.1 million while comparable-store sales increased 0.4%.
"We are operating in a stagnant sales environment resulting from the poor economy and intense competition. In the second quarter, we continued to improve efficiencies and productivity at store level and in our supply chain while enhancing quality of our customer shopping experience in terms of our in-stock position and overall freshness," said Weis Markets’ president and CEO David Hepfinger. "We also continued to invest in our growth by acquiring and reopening three units in the Delaware Valley and extensively remodeling six units."
The company also attributed its net income and operating income increases to disciplined promotions and marketing and a decrease in depreciation expenses when it changed depreciation methods from accelerated to straight-line.
Coach Q4 income tops expectations, but sales miss
New York — Coach Inc. reported Tuesday that net income for the quarter ended June 30 rose 24% to $251.4 million, from $202.5 million in the same period last year, topping Wall Street projections.
The company’s revenue in the quarter rose 12% to $1.16 billion, below analysts’ expectations of $1.2 billion. Slowing growth at the company’s factory-outlet stores impacted sales. Coach reinstated coupons at its factory stores late in the quarter amid increasing discounting among retailers.
Same-store sales at North American stores edged up 1.7%.
Coach’s full-year earnings climbed to $1.04 billion from $880.8 million in the previous year. Annual revenue rose 14% to $4.76 billion, from $4.16 billion.