Sears Canada loss widens in Q2; looking for opportunities to refresh stores
Toronto — Sears Canada reported Wednesday a loss of $9.8 million in the second quarter, widened from a loss of $200,000 in the year-ago period.
Revenue fell 8.5% to $1.050 billion, from $1.148 billion. Same-store sales dropped 7.1%.
The retailer attributed much of the problem to warm, dry weather in many areas of Canada, which impacted sales of outdoor power equipment.
"While we are not pleased with our quarterly sales results, we continued to implement key transformation initiatives," said Calvin McDonald, CEO. “Of note was the performance in our apparel departments, which received a significant portion of our investment. We are exploring other possible locations across Canada to refresh.”
Finish Line names Wal-Mart exec as senior VP store operations
Indianapolis — The Finish Line announced Wednesday it has named Greg Beidler as senior VP store operations for the chain.
Beidler was previously regional operations director for Sam’s Club/Wal-Mart Corp., and has served in management roles for GameStop, Brown Shoe, Circuit City and Athlete’s Foot.
Fossil appoints new COO
Richardson, Texas — Fossil said Wednesday it has appointed John White to the position of executive VP and COO, effective Sept. 4.
White, formerly president of Pandora North America, will be responsible for the company’s supply chain, distribution and warehousing, legal and information technology operations.