Stein Mart same-store revenue surges in April
Jacksonville, Fla. — Revenue at stores open at least one year climbed 8% last month for discount retailer Stein Mart. According to Stein Mart, strong sales of linens and ladies’ casual and career sportswear helped drive revenue growth and offset weaker sales in dresses, ladies’ accessories and men’s sportswear.
For the quarter to date, revenue at stores open at least a year increased 1.2% and total revenue climbed 3.8% to $321.4 million.
Stein Mart CEO Jay Stein also credited the change of seasons with helping his company’s performance. "Now that we are seeing warmer weather, our customers are responding well to our spring merchandise and we are truly satisfied with what this has done for our sales," he said in a statement.
Fred’s meets high April expectations
Memphis — Fred’s, Inc. reported a slight boost in total sales for the first three months of fiscal 2013 compared to the same period last year – an increase from $500.5 million to $501.4 million. However, comparable store sales during the period decreased 1.3%, compared to a 0.3% drop a year earlier.
Total sales for the four weeks ending May 4 rose 3% from $147.6 million to $152.2 million. Comparable store sales for the month increased 1.2% compared with a decline of 0.3% in the same period last year.
"We are pleased that April sales came in at the high end of our expectations, said Fred’s CEO Bruce A. Efird. “A solid comparable store sales performance in our general merchandise departments, despite the poor weather conditions, more than offset the ongoing negative impact of the shift from branded to generic drugs. During the month, we also experienced an increase in customer traffic and made good progress with our plan to improve our sales mix, with a greater proportion coming from higher margin product departments. These accomplishments keep us on track to achieve our earnings projections for the first quarter.”
The Hillshire Brands names new CIO
CHICAGO — The Hillshire Brands Company has appointed David W. Stahl as its new CIO. Stahl will oversee all IT strategy and planning activities and will provide executive leadership and direction for IT. He will report to Maria Henry, CFO.
“David has a proven track record of success and a strong background in quality and process improvement,” said Maria Henry, CFO. “He will lead our information technology agenda in support of the company’s growth strategy and efficiency programs. David’s experience and strong leadership will be a great addition to our team.”
Most recently, Stahl was VP of information technology at Tellabs where he was responsible for all aspects of the company’s global IT operations. He led an IT transformation program which resulted in improved service levels, lower costs and higher operational performance of the IT function. During his tenure at Tellabs he held positions of increasing responsibility from director, global quality assurance to VP, corporate quality and customer satisfaction.
Prior to Tellabs, Stahl served in Quality positions at Underwriters Laboratories, Inc., 3Com Corporation’s subsidiary CommWorks, Emerson Electric and Matsushita Electric Corporation of America. He began his career at Defense Electronics Supply Center.
Stahl received his bachelor of science in electrical engineering from Ohio Northern University. He serves as a member of the board of directors for the QuEST Forum.
Hillshire Brands Company generates approximately $4 billion in annual sales and has approximately 9,500 employees. Its brands portfolio includes Jimmy Dean, Ball Park, Hillshire Farm, State Fair, Sara Lee frozen bakery and Chef Pierre pies, as well as artisanal brands Aidells and Gallo Salame.