Starbucks names Chiquita exec as executive VP, global supply chain
Seattle — Starbucks Coffee Co. has appointed Deverl Maserang as executive VP leading the company’s global supply chain organization, effective June 3. He will be accountable for end-to-end supply chain operations globally spanning manufacturing, engineering, procurement, distribution, planning, transportation, inventory management and worldwide sourcing.
Maserang joins Starbucks from Chiquita Brands International, where he led the Global Value Chain for Chiquita and Fresh Express.
Nordstrom Q1 profit and sales disappoint
Seattle — Nordstrom Inc. reported its first quarter net income fell a greater-than-expected 3%, hurt by weak demand for spring merchandise and softer performance in the Northeast and Midwest. The company also lowered its full-year sales forecast.
The results were a rare miss for the upscale department store chain whose shoppers have proved resilient throughout the uncertain economy.
Nordstrom’s net income in the quarter ended May 4 fell to $145 million, down from $149 million a year ago. Revenue increased 5% to $2.75 billion, missing Wall Street expectations. Same-store sales were up 2.7%.
Nordstrom’s top performing categories included makeup, women’s apparel and handbags.
At the company’s outlet store division, Nordstrom Rack, net sales increased 10% to $58 million, reflecting 16 store openings since the first quarter of fiscal 2012. Same-store sales increased 0.8%.
Stages Stores Q1 loss widens
Houston — Stage Stores reported a loss of $6.9 million for the first quarter, compared with a loss of $418,000 for the year-ago period, as the retailer dealt with cool weather that put a damper on sales of spring apparel.
"The unseasonably cool weather in March and April, particularly when compared to last year’s warm spring, strongly impacted our sales performance," president and CEO Michael Glazer said.
Revenue rose 4% to $378.6 million from $365.7 million. Same-store sales inched up 0.7%.