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Jack Shewmaker posthumously inducted into U of A Hall of Fame

BY CSA STAFF

Former Walmart senior executive and longtime board member Jack Shewmaker is among a group of four business leaders slated for induction into the Arkansas Business Hall of Fame. The induction ceremony will be held Friday, Feb. 10, 2012.

Other inductees include: John Ed Anthony, chairman of Anthony Timberlands Inc. of Bearden, president of Shortleaf Stable, and former president of Loblolly Stable, one of the premier thoroughbred horse racing and breeding operations in the United States; Wayne Cranford, chairman emeritus of Cranford Johnson Robinson Woods, the largest advertising agency in a three-state area; and Walter E. Hussman Jr., publisher of the Arkansas Democrat-Gazette and president and CEO of WEHCO Media Inc.

“Once again, we have a very distinguished group of inductees that represent the best of our state. They have excelled in a wide range of business fields — media, advertising and marketing, timber production and retailing — and have each made significant contributions to the state of Arkansas,” Walton College Dean Dan L. Worrell said. “It is our hope that by honoring these four inductees we can enable their accomplishments to continue to be an inspiration to the future business leaders of Arkansas and the nation.”

According to Shewmaker’s bio, in 1970, he was living in La Porte, Ind., but looking for a new challenge in the crowded world of small discount chain stores. Through a meeting with Sam Walton, he became one of two district managers at that time for Walmart. Shewmaker, who in 1974 created Walmart’s “Everyday Low Prices” pricing strategy that contributed to the company’s skyrocketing growth, rose to become president and COO in 1978. He was instrumental in shaping the “Walmart Culture” by developing the company’s first policies and procedures manual and personally setting a standard of ethics within the operation. Shewmaker also was an innovator within Walmart and the retail industry. He coined the company’s well-known term “Rollback.” He spurred Walmart to invest heavily in its first satellite communications system and implemented bar code standards for products, both industry firsts and both of which set the stage for Walmart’s growth into a new century. After retiring in 1988, Shewmaker remained on the Walmart board for 20 years. He also started JAC’s Ranch, a purebred Angus cattle operation, and was an executive retail consultant for Woolworths Limited of Australia. He supported education in Northwest Arkansas as a benefactor and booster for Bentonville High School and Northwest Arkansas Community College. Shewmaker also was instrumental in the growth of Students in Free Enterprise (SIFE) to the point that it now is active on 1,500 college and university campuses in 39 countries. He was on the board of directors for Sisters of Mercy Health System starting in 2008. Shewmaker was born and graduated from high school in Buffalo, Mo. After his retirement from Walmart, he continued to live and be active in the Northwest Arkansas community until his death in November 2010.

Tickets to the Arkansas Business Hall of Fame induction ceremony, a black-tie optional event, are $150 per person. For more information about tickets and event sponsorships, contact the office of external relations at the Sam M. Walton College of Business, Business Building 117, University of Arkansas, Fayetteville, Ark., 72701-1201, 479-575-6146, by email at [email protected], or on the Web at http://waltoncollege.uark.edu/abhf/.

A list of previous inductees into the Arkansas Business Hall of Fame is available at http://waltoncollege.uark.edu/abhf/.

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Halloween forecast is frighteningly good

BY CSA STAFF

So much for the weak economy. A record number of people, 161 million to be precise, are expected to celebrate Halloween this year, according to the National Retail Federations annual survey.

NRF has been conducting the consumer intentions and actions survey for 10 years and the outlook for this year is the brightest ever with average spending per person expected to increase to $72.31 from $66.28 last year.

“Eager to shake off the summer heat and forget about the economy for a few days, Americans are looking forward to having some fun this Halloween,” NRF president and CEO Matthew Shay said. “Many retailers have already stocked their shelves with Halloween merchandise and, given the popularity of the holiday this year, consumers should not hesitate when they find something that would make their celebration complete.”

The survey conducted by BIGresearch found this year’s celebrations will be far from tempered as more people plan to dress in costume (43.9% vs. 40.1% in 2010), throw or attend a party (34.3% vs. 33.3% last year) and visit a haunted house (22.9% vs. 20.8% in 2010.) Additionally, half (49.5%) will decorate their home/yard and 14.7 percent will dress their pets in costume. Other traditional celebratory activities include handing out candy (73.5%), carving a pumpkin (47.8%) and taking children trick-or-treating (32.9%).

With celebrations increasing, spending is expected to slightly increase across the board as well. The average consumer is expected to spend $26.52 on costumes. This year, Americans will spend $1 billion on children’s costumes, up from $840 million last year, and $1.21 billion on adult costumes, up from $990 million last year. Additionally, pet owners are expected to shell out $310 million. When it comes to decorations, more people this year than in the survey’s history will buy life-size skeletons, extra large inflatable pumpkins and fake cob webs, spending an average of $19.79. Spending on Halloween décor is second only to spending on Christmas decorations.

“Thanks to creative costumes and décor for consumers of all ages, Halloween has become one of the most anticipated holidays of the year for many people,” said Pam Goodfellow, Consumer Insights Director, BIGresearch. “As a non-gift holiday, even people on the strictest budget can enjoy themselves this Halloween.”

Consumers aren’t completely blowing caution to the wind this year, however. According to the survey, nearly one-third (32.1%) say the state of the U.S. economy will impact their Halloween plans. To compensate, most say they will try to spend less overall (87.1%). Others will make a costume instead of purchasing one (18.9%), use last year’s costume (16.6%) and buy less candy (40.2%.)

The survey included 9,374 consumers who were contacted from Sept. 6-14 and has a margin of error of +/- 1%.

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CVS/pharmacy continues fight against ‘money trashing’

BY CSA STAFF

WOONSOCKET, R.I. — CVS/pharmacy said that it is continuing to promote its "MoneyTrashers" campaign by adding new digital resources to CVS.com and the CVS/pharmacy Facebook page.

Beginning Oct. 1, members of CVS/pharmacy’s ExtraCare rewards program will begin receiving their quarterly reward payout. In line with this, the drug store chain said that both sites now feature new humorous videos showing shoppers all the ways they can remember to not be a "MoneyTrasher." Viewers can vote on their favorite videos and help spread the word to others by sharing the content on Facebook and Twitter, which can encourage them to "Stop Money Trashing."

What’s more, shoppers can declare their commitment against "MoneyTrashing" by taking a digital pledge to not be a MoneyTrasher. The first 500,000 pledge registrants will automatically receive $2 ExtraBucks rewards, the company said.

"We have always been proud that tens of millions of loyal CVS/pharmacy customers redeem their ExtraBucks rewards and have made ExtraCare the most successful retail rewards program in the U.S.," CVS/pharmacy customer relationship management VP Melissa Studzinski said. "However, our goal is to help even more customers realize how easy it is to save money by taking advantage of the rewards available. Since launching our MoneyTrashers campaign, the number of ExtraCare members redeeming their rewards has reached new heights and it is clear the message is resonating with customers and people are having a lot of fun with it. As we enter the next phase of this campaign, we want to continue that excitement and enlist our customers to teach their friends and family to stop ‘trashing’ their ExtraBucks rewards, too."

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