Lowe’s appoints supply chain executive
Mooresville, N.C. — Lowe’s Cos. has named Stephen Szilagyi to the post of supply chain executive, reporting to Rick Damron, COO.
In his new role, Szilagyi will oversee Lowe’s logistics and distribution network that expedites the replenishment of merchandise and supplies to all Lowe’s stores.
Szilagyi has more than 25 years of supply chain experience, including leadership roles prior to Lowe’s in wholesale distribution and retail/consumer products supply chain consulting services.
He began his career at Lowe’s in 2001 as regional director of distribution and was named VP distribution in 2002 and SVP in 2006.
Barneys launching a permanent off-price website
New York — Barneys New York said Thursday it will launch its off-price website Barneyswarehouse.com on Monday, following a two-week pilot in August. Merchandise on the warehouse site will be past-season sale items at discounts of up to 75% off retail, and will be used along with its brick-and-mortar outlets for liquidation.
“[The new site] fits with our strategy to build all of these digital properties,” Daniella Vitale, chief merchant and EVP of Barneys, told fashion report Zee, adding that the retailer is considering other product categories and classifications for future e-commerce sites.
“The online business is explosive and the fastest-growing business we have,” added Vitale. “It will be no different for the off-price component. The warehouse sale is [a factory] outlet in the same way that Barneys.com is a flagship and should reflect the Madison Avenue location.”
Tractor Supply Q4 profit up
Brentwood, Tenn. — Tractor Supply Co. reported that net income for the quarter was $79.5 million, compared with net income of $70.5 million in the fourth quarter of the prior year.
Net sales for the fourth quarter increased to $1.29 billion, or 3.7% over the prior year’s 14-week period.
Same-store sales increased 4.7%, compared with a strong 7.6% increase in the prior-year period.
The company opened 25 new stores in fourth quarter 2012, compared with 31 new store openings in the prior year’s fourth quarter.
For the full year, the company reported that net sales increased to $4.66 billion, or 10.2% over the prior year’s 53-week period. Same-store sales increased 5.3%, compared with an 8.2% increase in fiscal 2011.
For fiscal 2012, net income was $276.5 million, compared with net income of $222.7 million for fiscal 2011.
The company opened 93 stores and closed two stores during fiscal 2012 compared to 85 new store openings and one store closure during fiscal 2011.