Lowe’s Canada announces executive changes
Toronto — Lowe’s Canada announced it has completed changes to the company’s senior leadership team and is positioned to continue to grow the company across Canada.
The new appointments include:
Nick Padovano was appointed to the newly created position of head of operations and supply chain.. Most recently, he was senior VP, store operations at The Bay/Lord and Taylor.
Igor Halencak was appointed to the newly created position of head of merchandising and marketing. Most recently, Halencak was senior VP, home, hardlines and major appliances at Sears Canada.
Tony Tutolo was appointed to the newly created position of head of finance and administration. Most recently, Tutolo was VP of finance, risk and information technology at the Beer Store and Brewer’s Distributed Limited.
Dollar Tree third-quarter results bolstered by increased traffic
Increased customer traffic helped drive Dollar Tree’s third-quarter results. The retailer cited growth in consumer basics as well as seasonal and variety merchandise, and said its higher margin variety categories are growing at a faster pace.
The company reported consolidated net sales for the quarter of $1.9 billion, a 9.5% increase from $1.72 billion for the year-ago quarter. Comparable store sales increased 3.1%.
“I am pleased with our performance in the third quarter,” said CEO Bob Sasser. “Our comparable-store sales increase was driven principally by increased customer traffic, as new customers are finding Dollar Tree to be part of their solution to balance their household budgets. Our stores executed a quick transition from Halloween and are set with fresh, high-value merchandise for Thanksgiving and the Holiday season.”
During the third quarter, Dollar Tree opened 117 stores, expanded or relocated 19 stores and closed 6 stores. The company operates 4,953 stores in 48 states and 5 Canadian Provinces as of Nov. 2.
Estimated sales for the fourth quarter are anticipated to be in the range of $2.25 billion to $2.31 billion, based on a range of low-single digit positive comparable store sales.
China, U.S., U.K. top e-commerce opportunity study
New York — China takes the top spot in online retail market opportunity, followed by Japan, the United States, the United Kingdom, and Korea, according to a new global e-commerce study by A.T. Kearney. (Kearney’s “2013 Global Retail E-Commerce Index” is comprised of 30 developed and developing markets.)
Developing countries were prominent in the Index, holding 10 of the 30 positions. According to the report, many developing markets have been able to shortcut the traditional online retail maturity curve as online retail grows at the same time as physical retail becomes more organized. E-Commerce is increasingly viewed by retailers as an efficient and effective global expansion vehicle.
“Consumers in developing markets are fast adopting behaviors similar to those in more developed countries,” said Mike Moriarty, A.T. Kearney partner and co-author of the study. “For example, mobile phones per capita in Russia (1.8) and the United Arab Emirates (1.7) are much higher than many developed markets, including the United States (1.0) and France (1.0). Consumers in these countries use their phones to research products, compare prices and seek input from their friends on social media.”
Among the study’s findings:
- Global online retail has grown at 17%, with growth particularly strong in Latin America (27%) and Asia Pacific (25%). One major factor is Internet penetration; another is payment methods, which vary according to country.
- Mobile phone ownership and use figures largely into the rating, where countries with one or more mobile devices per capita are clearer winners in the e-commerce arena.
- Across the board, consumers and merchants have become more savvy – pre-purchase research and showrooming are commonplace throughout the world.
- Logistical considerations are the biggest hurdle in e-commerce growth, particularly delivery and distribution/warehousing.
- Electronics and apparel continue to be the biggest online sellers.
Here is the top 2013 Global E-Commerce Index ranking:
|25||United Arab Emirates|