Staples promotes two execs
Framingham, Mass. – Joe Doody, president North American commercial, has been named vice chairman of Staples, Inc., and Shira Goodman, executive VP, global growth, has been named president, North American commercial of Staples, Inc. Both Doody and Goodman will continue to report to Ron Sargent, chairman and CEO. The appointments are effective February 2.
In his new role, Doody will lead Staples’ strategic reinvention and will have responsibility for strategic planning and business development, as well as the company’s operations in Australia, New Zealand and high-growth markets. He joined Staples in 1998 and has delivered consistent growth, led the expansion into new product categories and built Staples’ world-class supply chain capabilities.
Goodman joined Staples in 1992 and played a key role in developing Staples’ delivery business model. She has served in a number of senior roles across the company, including strategy, marketing, human resources and operations. Goodman led the development and launch of Staples Reinvention as well as the company’s Make More Happen branding campaign.
Report: Target says vendor breach led to data theft
Minneapolis – Target reportedly said a data breach at an unidentified vendor led to hackers obtaining phony credentials that allowed them to gain access to Target’s systems and steal the information for 40 million credit and debit cards, as well as the personal data of about 70 million consumers. According to the Associated Press, Target did not offer any specific details on who the vendor was or how hackers obtained the credentials.
A Target spokesperson did say the retailer has taken steps to help make data breaches more difficult in the future, such as restricting or updating outside access to some of its platforms.
Full speed ahead for Tractor Supply in Q4
Tractor Supply Co., the nation’s largest farm-and-ranch retailer, reported big gains in sales and earnings for the fourth quarter and full year.
The company reported nets sales of $1.42 billion in the fourth quarter, up from $1.29 billion in the same quarter last year. Comparable-store sales increased 3.5%.
Net income for the quarter was $95.9 million, up from $79.5 million in the same quarter last year.
“We are very pleased with our strong fourth-quarter and full-year results,” said CEO Greg Sandfort. “The fourth quarter marked our 17th consecutive quarter of positive comparable-store sales and our 23rd consecutive quarter of positive comparable transaction counts. In recent years, we have grown our business effectively despite challenging economic environments and volatile weather trends. We believe our results are a function of the balanced approach we take to run our business, through managing sales, margins, expenses and capital investments.”
For the full year, net sales increased 10.7% to $5.16 billion, as comps increased 4.8%. Those results came during a fiscal year in which the company opened 102 new stores and closed two stores. It had opened 92 new stores in fiscal 2012.
Full-year net income surged 18.7% to $328.2 million.
Looking ahead, the company expects comp-store sales to increase in the range of 2.5% to 4% in fiscal 2014.