FINANCE

Macy’s CEO pay package put at $11.3 million

BY Marianne Wilson

New York — Macy’s CEO Terry Lundgren had a pay package worth $11.3 million in 2012, down 22% from 2011, the Associated Press reported.

Lundgren had a salary of $1.6 million stock and options awards worth $7.7 million, and perks worth about $76,000. The decline came from a 63% smaller cash payment for performance, the report said.

Macy’s said the CEO beat the profit expectations for the year but fell short on cash flow, due to a big merchandise purchase at the end of the fiscal year.

The AP’s calculation counts salary, bonuses, perks and stock and options awarded to the executive during the year.

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OPERATIONS

Sports Chalet launches order today, deliver today service

BY Staff Writer

Los Angeles — Sport Chalet announced the company-wide implementation of order today, deliver today service. With this new service Sport Chalet customers can order merchandise and have it delivered the same day.

"We continue to look for ways to enhance our customer’s shopping experience. Sometimes there just is not enough time for a customer to visit our stores and this new service solves that problem. After a customer makes their selection on our website, our Experts will locate the item(s) then deliver the merchandise that same day," said Craig Levra, chairman and CEO of Sport Chalet. "In addition, for those customers who have rented gear from us and do not want to make the drive back to one of our stores, we will drive to their home or office and retrieve the gear for them."

Order today, deliver today service is available to residents and businesses in most of California as well as the Greater Phoenix, Arizona area, the Greater Las Vegas, Nevada metropolitan area, and most of Salt Lake City.

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REAL ESTATE

Best Buy to open in-store Samsung shops

BY Marianne Wilson

Richardson, Texas — Samsung Electronics and Best Buy Co. have entered into a partnership to install Samsung in-store shops in more than 1,400 Best Buy and Best Buy Mobile stores across the U.S. beginning this month.

By early May, 900 Best Buy and Best Buy Mobile specialty stores will feature the “Samsung Experience Shop,” with the remainder launching by early summer.

The shops, which will feature Samsung’s full range of mobile products including smartphones, tablets, laptops, connected cameras and accessories, will vary in size, with the largest being approximately 460 square feet. Within the larger shops, the Samsung Connected Solutions area will offer a place for customers to see how easily Samsung devices connect and share content across multiple screens. 


“We look forward to showcasing Samsung products in the Samsung Experience Shop in all Best Buy and Best Buy Mobile locations. This is part of our Renew Blue transformation strategy – working closely with vendor partners to innovate and drive value, while also updating our stores to focus on growing and profitable categories,” said Shawn Score, head of U.S. retail for Best Buy.

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