FINANCE

Home Depot May Report Comp-Store Sales Again

BY CSA STAFF

Los Angeles, Home Depot Inc.’s CEO said the chain may return to reporting comp-store sales, just weeks after it announced it would stop the quarterly reports. In an interview with CNBC on Thursday, chairman and CEO Bob Nardelli said the company would make any announcement about reinstating comp-store sales reports in its quarterly financial report. In May, Home Depot announced it would stop reporting comp-store sales on a quarterly basis.

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OPERATIONS

Jo-Ann Stores Names New CEO

BY CSA STAFF

Hudson, Ohio, Jo-Ann Stores Inc. on Wednesday named Darrell Webb as chairman, president and CEO, effective July 24. Webb was previously president of grocer Kroger Co.’s Fred Meyer division. He replaces Alan Rosskamm, who is retiring as chairman, president and CEO but staying on as a board member.

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FINANCE

Chain Store Sales Up 2.7%

BY CSA STAFF

New York City, U.S. chain stores sales increased, but were still weak in the fifth and final week of June, as storms and rising floodwaters in the northeast caused temporary store closings, according to a Redbook Research report released Wednesday. Sales at big-box retailers rose 2.7% on a year-over-year basis for the week ended July 1, following a 3.4% rise the prior week. Sales at U.S. retailers in the last week of June rose 1.8% compared to the same time period in May.

Flooding caused by the heavy rain prevented some customers from shopping in malls, Redbook said.

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