REAL ESTATE

New VP, east coast construction at Combined Properties

BY Michael Fickes

Washington, D.C. — Combined Properties has named Andrew V. Marusak, IV, VP construction for the east coast. He will be responsible for the firm’s many projects in the Washington, D.C., metro market.

“He is an accomplished construction professional with broad experience overseeing large retail portfolios and building mixed-use developments,” said Kathy Roberson, CEO/president. “With $1 billion in our development pipeline, much of it in the DC market, his talents will serve the company well.”

Marusak comes to Combined Properties from JBG Rosenfeld Retail Properties, where he was the director of property operations and construction.

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News

Sears stays current with digital-savvy shoppers

BY CSA STAFF

HOFFMAN ESTATES, Ill. — Sears may not be the first name that springs to mind when one thinks of retailers that leverage technology to reach out to digital-savvy consumers, but it’s demonstrating that it can stay current with the latest digital trends.

To that end, Sears is offering personalized digital coupons to members of its Shop Your Way loyalty program that are redeemable in-store, online and from a mobile device. Members can download the virtual coupons, tailored to their interests, style preferences and shopping habits, from the Internet or the Sears mobile app.

The digital coupons are part of a number of special omnichannel offerings Sears provides, which include same-day, free in-store pickup of online purchases, mobile checkout, “endless aisles” online-only product assortment and free home delivery of out-of-stock items.

"No matter how or where our Shop Your Way members choose to shop with us during back-to-school season Sears has a way to do so conveniently, save time and money, and earn rewards," said Ron Boire, executive VP, CMO and president, Sears and Kmart Formats. "We are creating experiences that make our Shop Your Way members come back for more — that’s why we expanded our apparel brands and in-store technology to appeal to the individual fashion and shopping styles of our members and customers."

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FINANCE

McDonald’s reports small Q2 gains

BY Dan Berthiaume

Oak Brook, Ill. — McDonald’s Corporation reported modest global gains in net income, revenues and same-store sales during the second quarter of fiscal 2013. Both its profit and revenue trailed analysts’ estimates.

The fast-food giant earned a consolidated net income of almost $1.4 billion during the quarter, a 5% increase from about $1.35 billion in the same quarter a year earlier. Those earnings came from consolidated revenues of $7.08 billion, which were up 2% from about $6.91 billion a year earlier. Consolidated same-store sales rose 2%.

In the U.S., same-store sales rose 1%, with new product introductions across the four key growth categories of chicken, beef, breakfast and beverages, ongoing support for the Dollar Menu and greater accessibility to McDonald’s classic core favorites supporting the segment’s sales performance, partially offset by comparison to promotional activity in the previous year.

In Europe, same-store sales were down 0.1% as negative results in Germany and France were nearly offset by solid performance in the U.K. and Russia. In Asia/Pacific, Middle East and Africa (APMEA), second quarter comparable sales declined 0.3% primarily due to negative results in China, Australia and Japan nearly offset by positive performance in many other markets.

"McDonald’s results for the quarter reflect our efforts to strengthen our business momentum for the long-term," said McDonald’s president and CEO Don Thompson. "We remain strategically focused on the global growth priorities that help us better serve our customers. While the informal eating out market remains challenging and economic uncertainty is pressuring consumer spending, we’re continuing to differentiate the McDonald’s experience by uniting consumer insights, innovation and execution."

However, Thompson cautioned that global same-store sales for this month are expected to be relatively flat and may be challenged for the rest of the year, although he is confident long-term profitability is not threatened.

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