OPERATIONS

Kinney Drugs names new president

BY Staff Writer

Gouverneur, N.Y. — Kinney Drugs Inc. announced that Jim Spencer, formerly COO, has been promoted to president of Kinney Drug stores. In this expanded role, Spencer will be responsible for the total customer experience and strategic growth of our retail drug stores.

In addition to overseeing pharmacy and retail operations, marketing, and merchandising, he will assume oversight responsibilities for logistics.

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News

Epicor Software names senior VP of Epicor Retail

BY Staff Writer

Dublin, Calif. – Epicor Software announced the appointment of Noel Goggin as senior VP and general manager of the Epicor Retail solutions business reporting to Epicor president and CEO Pervez Qureshi.

In this strategic role, Goggin will have operating responsibility for the Epicor Retail solutions business which delivers a comprehensive retail management suite representing a complete range of advanced solutions for specialty, soft goods, and general merchandise retailers.

“I am pleased with the addition of Noel to our management team, a seasoned professional and proven leader in the global retail software market,” said Qureshi. “Noel’s experience driving go-to-market and growth strategies to Tier 1 retailers along with his success in transforming traditional enterprise applications businesses to cloud and software as a service delivery models will be tremendous assets to our retail business, and for Epicor overall.”

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FINANCE

Gap raises outlook as Q2 profit surges 25%; bringing Old Navy to Shanghai

BY Marianne Wilson

San Francisco — A resurgent Gap Inc. reported that its second quarter profit jumped 25% on strong sales of denim and other goods at its namesake and Old Navy brands. And bucking a trend set by other retailers, the company raised its full-year earnings guidance. Gap also detailed upcoming expansion plans.

“We delivered strength in both our top and bottom lines this quarter,” said Glenn Murphy, chairman and CEO of Gap. “As we move into the second half of the year, we remain focused on growing revenue and driving continued momentum across our portfolio of brands.”

Gap earned $303 million for the quarter ended Aug. 3, up from $243 million in the year ago period.

Revenue increased 8.1 % to $3.87 billion, in line with Wall Street expectations. Same-store sales rose 5%, with 6% gains at Gap and Old Navy and a 1% decline at Banana Republic.

In line with its strategy to expand Old Navy internationally, Gap said it will open the brand’s first store in Shanghai and launch an Old Navy e-commerce site in China in the first half of 2014.

The company also announced that it is bringing the Gap brand to Taiwan with its first store opening in the first half of 2014, along with a Gap e-commerce site.

With regards to its newest U.S. format, Athleta, the retailer said it opened six Athleta stores in the second quarter, for a total of 46 stores. It’s on track to end fiscal 2013 with about 65 stores.

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