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Joe’s Sports & Outdoor Names President, CEO

BY CSA STAFF

Wilsonville, Ore. Joe’s Sports & Outdoor has named Hal Smith to serve as president and CEO of the company. Smith also has been appointed to the company’s board of directors.

Smith succeeds Norm Daniels, who will continue to serve on the Joe’s Sports & Outdoor board of directors and be involved in the strategic direction of the company.

Smith is the former president of Bass Pro Shops and has been the president and CEO of several other leading retail companies. Most recently, he was executive VP of Pep Boys.

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Books-A-Million holiday sales up 5.3%

BY CSA STAFF

BIRMINGHAM, Ala. Books-A-Million Thursday announced 5.3% increase in sales for the holiday period.

The company reported that sales for the nine weeks ended Jan. 5 were $130.8 million compared with $124.2 million for the same period last year. Comparable-store sales for the period were flat compared with the same period last year. 

 

Commenting on the results, Sandra Cochran, president and ceo, said, The sales environment for the holiday season proved challenging as we confronted softening economic conditions and a value conscious consumer. Nonetheless, we saw good results in a number of our core book categories as well as strong performances in bargain books and the gift department.”

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Macy’s Inc. Nov.-Dec. comps down 1.1%

BY CSA STAFF

CINCINNATI Macy’s Inc. Thursday reported total sales of $4.6 billion for the five weeks ended Jan. 5, a decrease of 7.4 % compared to total sales of $5 billion in the five weeks ended Dec. 30, 2006.

The company reported that on a same-store basis, Macy’s Inc. sales were down 7.9% in December. According to the company, this is below guidance for December same-store sales to be down between 4% and 7%.

For the November-December period combined, Macys Inc.s same-store sales were down 1.1%.

Given the calendar shift between November and December, we noted previously that the two-month holiday selling period needed to be viewed together rather than each month individually, said Terry Lundgren, Macys Inc. chairman, president and ceo. After a strong November, we had hoped that a more positive sales trend would continue through December. But macroeconomic trends led customers to spend cautiously for the holiday. That said, we remain on track to be within our guidance for same-store sales in the fourth quarter, albeit at the low end of the range of down 2% to up 1%. 

The company expects January same-store sales to be down by 4% to 6% compared with last year.

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