Macy’s Q1 profit up 20%
Cincinnati — Macy’s reported increases in sales and income for the first quarter of 2013 compared to the same period a year earlier, despite cool weather that delayed spring shopping in key markets. Net income was $217 million, a 20% hike from $181 million in the year-ago period.
While net income slightly beat analyst predictions, same-store sales rose 3.8%, short of the 4.3% expected by analysts. Net sales totaled $6.39 billion, up 4% from $6.14 billion in the year-ago period.
“We are especially pleased with our first quarter sales and earnings performance given the challenges we overcame in this period,” said Macy’s chairman, president and CEO Terry J. Lundgren. “These included sustained, unseasonably cool spring weather in our northern climate zones.”
Lundgren added that the chain saw weakness among some of the most budget-conscious consumers, as well as among its higher household income Bloomingdale’s customers.”
RadioShack courts college kids
RadioShack is courting the college market and has entered into a five-year agreement with NACSCORP, a subsidiary of the National Association of College Stores.
Under the agreement, the retailer will offer an assortment of consumer electronics and accessories to the nearly 4,000 college store customers NACSCORP currently serves.
Students will be able to shop for a mix of brand-name electronics, such as headphones and accessories from Beats by Dr. Dre, Skullcandy and SOL Republic, as well as a selection of exclusive private brand products, including Enercell portable power and Auvio headphones and Bluetooth speakers.
RadioShack-branded sections will begin appearing in college stores just in time for the start of the fall semester. The University Co-op at the University of Texas at Austin, which is one of the nation’s largest college stores and has a history of innovating within the category, will be among the first locations to feature the new RadioShack product areas.
"This agreement with NACSCORP lets our brand fill a specific need for college stores and for college students," said Joe Magnacca, RadioShack’s CEO. "This represents a unique opportunity for RadioShack to enter a non-traditional marketplace, and agreements like this are key to introducing new consumers to the role that RadioShack can play in their lives."
This agreement allows RadioShack direct access to niche market and gives the retailer the opportunity to position itself in front of a college-age crowd, which is in line with its desire to re-assert its relevance as a brand while wooing younger customers.
"College students are such avid consumers of technology that putting some of RadioShack’s bestselling consumer electronics on shelves in their college stores is a great way to get the collegiate crowd interested in our brand," said Marty Amschler, VP of franchise for RadioShack. "Once they understand that RadioShack is just around the corner and carries the great brands they know and trust — as well as the cool products they didn’t even know they needed — we will have tapped into a whole new fan base."
"Bringing RadioShack’s brand, top consumer electronic brands and category management expertise into the college store market provides our customers with a great opportunity to meet the needs of the ever-evolving college student," said Kurt Schoen, president and COO for NACSCORP.
CASPCA exec heads to Petco Foundation’s board
SAN DIEGO — Petco Foundation has appointed CASPCA executive Susanne Kogut as the new executive director of its board of directors. Kogut will replace the foundation’s long-time executive director, Paul Jolly, who has led the organization since its inception in 1999.
"Paul has given a lifetime of service to helping animals through his career and in his personal life," said Charlie Piscitello, president of the Petco Foundation. "His leadership, passion and tireless commitment have been an inspiration to us all."
Under Jolly’s direction, the Petco Foundation has raised and donated more than $110 million to help animals in need across the country. Today, the foundation supports thousands of local animal-welfare partners across the country. Money raised helps fund animal-welfare efforts, including animal rescue, spay and neuter efforts, animal-assisted therapy programs, disaster relief and humane education.
As the new executive director, Kogut will be responsible for leading the organization’s strategy and vision, as well as furthering its growth and community impact.
"The board is thrilled to have found Susanne, a proven leader with the personal commitment to step into some pretty big shoes and provide an exciting path forward," said Piscitello. "She possesses an outstanding combination of business experience, fundraising expertise and demonstrated success in the animal-welfare community. She’s had a remarkable impact on animals already, and we know she’ll continue to serve as a tireless advocate, further strengthening the depth and reach of the Petco Foundation’s efforts nationwide."
Kogut brings to the position a strong combination of leadership in public service, including animal-welfare, coupled with years of professional business and legal experience in financial services and as a Washington D.C. attorney. As the executive director of the Charlottesville-Albemarle SPCA in Virginia, Susanne transformed the struggling group into a model organization nationally recognized for its lifesaving achievements. Prior to joining the CASPCA, Kogut served in various roles at Capital One, including associate counsel, director of corporate finance and director of community reinvestment, where she oversaw all philanthropic giving, employee volunteer programs and financial investments to support low-income communities.
"The Petco Foundation’s contribution to helping animals has been tremendous over the years, and I have such respect and admiration for everything Paul and the foundation have accomplished," said Kogut. "I am so honored and thrilled to be a part of the foundation’s future, and I look forward to working with our animal welfare partners across the country to help create a better future for animals in need."
The Petco Foundation continues to act as an advocate and leading voice in the animal welfare community nationally.
Petco is a leading pet specialty retailer that provides products, services and advice to pet owners. It operates more than 1,200 stores nationwide and in Puerto Rico, including more than 50 Unleashed by Petco locations, a smaller format neighborhood shop, and www.petco.com.
The Petco Foundation, an independent nonprofit organization, works to promote and improve the welfare of companion animals. In conjunction with the foundation, the retailer works with and supports thousands of local animal welfare groups across the country and, through in-store adoption events, helps to find homes for more than 350,000 animals every year.