Tuesday Morning taps interim CEO as permanent chief
DALLAS —Closeout retailer Tuesday Morning announced the appointment of Michael Rouleau to CEO, effective immediately. Rouleau, who was appointed interim chief executive in March 2013, will also continue to serve on the company’s board of directors, which he joined in November 2012.
“I am delighted to lead Tuesday Morning —a company that I believe, having worked here for a short time now, has tremendous potential as a value retailer," Rouleau said. "We are off to a good start, developing a company strategy, selling off merchandise that no longer fits our strategy, cleaning up our stores and fine tuning our merchandise direction.”
Rouleau’s resumé includes most recently serving as president and CEO of Michaels Stores (1996 to 2006), and also as its president from 1997 to 1999 and again from 2001 to 2006. He previously served as executive VP of store operations for Lowe’s Companies, Inc. from 1992 until 1996. Prior to joining Lowe’s, Rouleau was a co-founder and president and CEO of Office Warehouse, which subsequently merged into Office Max.
Urban Outfitter’s Q2 profit surges 25%
PHILADELPHIA —Urban Outfitters’ second-quarter net income jumped to $76 million for the three months ended July 31, 2013.
Total company net sales for the second quarter increased 12% to a record $759 million. Same—store sales, including the company’s direct-to-consumer channel, increased 9%.
Comparable retail segment net sales increased 38% at Free People, 9% at Anthropologie and 5% at Urban Outfitters. Wholesale segment net sales rose 17%.
"I am pleased with the strong results we delivered this quarter," said Richard A. Hayne, CEO. "They were driven by a favorable customer response to our product offerings, improved merchandise margins, the opening of additional stores, and better creative and marketing initiatives in our direct-to-consumer channel.”
During the six months ended July 31, 2013, the company opened a total of 17 stores including: six Free People stores, eight Urban Outfitters stores and three Anthropologie stores.
Urban reported net income of $123 million for the six months ended July 31, 2013.
Report: Hollister must redesign store entrys for accessibility
New York — A federal judge in Denver gave Hollister Co. until Jan. 1, 2017, to modify its store entrances to make them wheelchair accessible, according to an advocacy group for the disabled, at a rate of 77 stores per year, the Associated Press reported.
The entrances of some Hollister locations are designed to resemble a front porch, complete with steps.
The Colorado Cross-Disability Coalition said the ruling by the judge gives the retailer several options, including leveling out stairs at entrances or installing ramps, according to the report. It also can close off stairway entrances so that all customers, not just those who are disabled, would use secondary entrances.