Report: Wal-Mart CEO says chain ramping up pace of acquisitions
New York — Doug McMillon, CEO of Wal-Mart Stores, said the company plans to ramp up the company’s pace of partnerships and acquisitions as part of a broader strategy to better compete with digital rivals, Bloomberg reported.
“We’ve been more acquisitive lately, especially for talent,” McMillon said, according to the report. “And our pace of acquisitions, I think, is going to accelerate.”
McMillion, who made his remarks during a presentation at the Code Conference, in Rancho Palos Verdes, California, also said the chain, might one day use 3-D printers for producing supplies.
“Three-D printing is interesting to me. We can use 3-D printing over time for replacement parts,” McMillion said, according to the report.
Brown Shoe swings to profit in Q1
St. Louis — Brown Shoe Company’s first quarter results exceeded expectations as the retailer swung to a profit. The company said it is raising its annual forecast.
Brown Shoe reported net earnings for the quarter of $15.4 million, compared to a net loss of $10.8 million in the year-ago period.
Net sales for the quarter increased 0.4% to $591.2 million, from $588.7 million for the prior-year quarter.
“First quarter results exceeded our expectations, thanks to strong contemporary fashion platform sales and a return to more seasonal weather for the last two weeks of April,” said Diane Sulllivan, CEO, president and chairman of Brown Shoe.
Sullivan cited strong contemporary fashion platform sales and a return to more seasonal weather for the last two weeks of April as the driving factors for the company’s first quarter results. “We feel optimistic about second quarter and the potential to benefit from pent-up spring shoe demand,” she added.
Famous Footwear sales for the quarter were $354.6 million, up 0.7% year-over-year, with same-store-sales up 1.3%.
Wholesale sales for the quarter were $191.8 million, up 5.6%. For the healthy living platform, wholesale sales of $104.7 million were up 0.7%. Contemporary fashion wholesale sales of $86.9 million were up 12.3% in the first quarter, with strong improvement coming from the Via Spiga brand.
Experiential retailer Make Meaning opens in Bethesda, Maryland
New York — Make Meaning is expanding its East Coast presence with the opening of its sixth U.S. location, at Bethesda Row in Bethesda, Maryland, on June 9. Make Meaning has five additional locations nationwide – two in New York City, as well as locations in Dedham, Massachusetts, Thousand Oaks, California, and Scottsdale, Arizona. The company plans to roll out additional locations nationwide and abroad.
The 5,000-plus-sq.-ft. emporium features a multitude of interactive activities including the opportunity to create and customize soaps and candles, paint ceramics and plaster, design glassware, decorate cookies & cakes and more. It also includes private party spaces, and constantly evolving “Creative Experiences” and classes.
Highlights of Make Meaning’s Bethesda Row store include:
• "The Skinny Dip," a flowing wax-cooling river of water where customers can watch their candles cook;
• The Cake and Cookie Decorating experience offers customers the chance to decorate their own cakes and cookies, using a wide assortment of edible accessories and colors including a motorized rotating booth for edible spray coloring;
• The Glitter Tattoo Parlor, where guests can get dazzling glitter tattoos applied; and
• Private party rooms for events of all sizes from birthday parties, bridal parties and baby showers to corporate events.