OPERATIONS

Shoe Carnival CEO to step down

BY Staff Writer

Evansville, Ind. — Shoe Carnival announced that Mark L. Lemond is retiring for health reasons from his positions as president, CEO and director effective Oct. 27.

"Due to certain health reasons and my desire to spend more time with my family, I have decided to retire at the end of this fiscal quarter,” Lemond said. “It has been my great pleasure to have been associated with this company for nearly 25 years and to have been its CEO for 16 years. In my opinion, we have assembled the best executive management team in the retail footwear industry.”

Clifton E. Sifford, currently executive VP – general merchandise manager, will succeed Lemond as president and chief executive on a permanent basis, and will also have the title of chief merchandising officer, effective Oct. 27. Sifford will also join the board of directors.

In other promotions, W. Kerry Jackson, currently executive VP – CFO and treasurer, will assume the additional position of COO.

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Dec-28-2012 10:56 am

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News

Study: More than 40% of smartphone and tablet owners ‘showroom’

BY Alaric Dearment

Whiting, Ind. — An online consumer survey shows that nearly half of consumers go into brick-and-mortar stores with their smartphones to research items without buying them and then looked for the same item at a lower price online.

The 2,361-adult survey, conducted by Harris Interactive on behalf of CouponCabin.com between Sept. 18 and 20, found that 43% of smartphone and tablet owners have engaged in the practice, known as "showrooming."

Of the shoppers who have showroomed, nearly all have sometimes or often bought a showroomed item online for a lower price later on, according to the survey; 28% of respondents said they did this often, while 68% said they do it sometimes. Forty-four percent said they were "not at all" concerned that showrooming may drive brick-and-mortar retailers out of business, while 41% said they were somewhat concerned, and 15% said they were very or extremely concerned.

"Consumers are using technology to find as many ways to save as possible, and showrooming is a prime example of that," CouponCabin.com president and chief savings officer Jackie Warrick said. "As showrooming becomes more widespread, some stores are concerned and are changing their strategies, offering new incentives and providing special offers to keep shoppers buying at their retail locations."

When asked what kinds of items they had showroomed, 50% of respondents said home electronics, while 44% said tech devices. Meanwhile, 40% said they showroomed entertainment items; 31% said they showroomed clothing; 29% said they showroomed shoes; and 24% said they showroomed computers.

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FINANCE

Supervalu reports Q2 loss

BY Marianne Wilson

Minneapolis — Supervalu Inc. on Thursday reported a loss of $111 for its second quarter, compared with net income of $60 million in the year-earlier quarter.

Revenue fell 4.6% to $8.04 billion in the quarter ended Sept. 8, from $8.43 billion in the year-earlier quarter. The decrease in net sales was blamed on both a decline in identical store sales and the sale of a majority of the company’s gas stations, which had contributed $158 million in revenue in the second quarter last year.

“We have accomplished a number of important steps since I became president and chief executive officer mid-way through the second quarter, including the successful refinancing of our credit facility, restructuring our executive leadership team, and announcing the closure of 60 stores,” said Wayne Sales, president, CEO, and chairman, Supervalu. “Our team is aggressively focused on four key strategic imperatives necessary to improve our business: driving profitable retail sales, growing Save-A-Lot, building our network of successful independent retailers, and reducing costs.

The company also announced Thursday that Leon Bergmann is leaving and will be succeeded as president of independent business by Janel Haugarth, effective immediately. Haugarth will continue to lead Supervalu’s business optimization efforts.

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