Sears Canada posts loss; names CFO
New York — Sears Canada reported a net loss in its first quarter of C$31.2 million ($30.3 million) compared with a net profit of C$93.1 million, a year earlier amid weakened demand for major appliances and home products.
Revenue fell more than 6% to C$867.1 million. Same-store sales fell 2.6%.
The company also named E.J. Bird as CFO. Bird was appointed interim CFO in March, two months after Sharon Driscoll resigned from the post.
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Bon-Ton taps PeopleAnswers for talent assessment
DALLAS — PeopleAnswers has announced a five-year software licensing agreement for The Bon-Ton Stores to use the PeopleAnswers HR-focused business solution to improve its in-store employee sales performance while lowering employee turnover.
“Today’s challenging retail market is growing more competitive with shrinking margins that require us to focus on improving our sales productivity and performance,” said senior VP, human resources for Bon-Ton, Denise Domian. “PeopleAnswers is a strategic tool to help our organization find the best, most productive talent who will remain with us longer while also improving sales and service across all of our locations and brands.”
Bon-Ton will use the cloud-based PeopleAnswers desktop and mobile software platforms in each of its 272 department stores across all nameplates in the U.S. to prescreen and hire new team members, including managers, supervisors and sales associates, as well as all distribution center processor positions. The retailer will also use the PeopleAnswers assessment to hire corporate positions.
By using PeopleAnswers, Bon-Ton will have a consistent employee recruiting process that uses talent science to improve the quality of its hiring decisions while also helping managers be more efficient. The assessment process will include a prescreen behavioral evaluation that will determine best-fit candidates prior to a formal interview and a custom performance profile for each position. Managers will also use PeopleAnswers as a guide for candidate interview questions, employee development and succession planning. PeopleAnswers will integrate with Bon-Ton’s applicant tracking system.
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Target Q1 profit plunges 29%; lowers full-year outlook
Minneapolis — Target Corp. reported a 26% drop in its first-quarter profit as unseasonably cool weather, the payroll tax increase and other economic pressures took a toll on sales.
Target earned $498 million the three months ended May 4, down from $697 million in the year-ago period. Sales rose 1% to $16.71 billion.
Same-store sales fell 0.6%. The number of transactions fell 1.9%.
"Target’s first-quarter earnings were below expectations as a result of softer-than-expected sales, particularly in apparel and other seasonal and weather-sensitive categories," Gregg Steinhafel, chairman, president and CEO of Target, said in a statement.
Still, Target remains confident in its strategies to attract shoppers.
"While we are disappointed in our first-quarter performance, we remain confident in our strategy, and we continue to invest in initiatives, including Canada, our digital channels, and CityTarget, that will drive Target’s long-term growth."
Target has begun opening the stores in Canada that it purchased from Zellers. It is on track to have some 125 location open in Canada by yearend.