Uniqlo, Westchester’s Ridge Hill, Yonkers, N.Y.
Uniqlo has opened its seventh U.S. location to date, in Westchester’s Ridge Hill center, in Yonkers, N.Y. The two-level, 24,000-sq.-ft. store is also the retailer’s first outdoor lifestyle center location.
New CFO for cloud software provider
PLEASANTON, Calif. — Callidus Software, a leading provider of hiring, learning, marketing and selling cloud software, has appointed Bob L. Corey to serve as SVP, CFO. Corey will report to Leslie Stretch, the company’s president and CEO.
"Bob brings more than 30 years of executive and financial management experience in public and private companies, particularly in Silicon Valley with software and hardware companies earning more than $100 million in revenue annually. Bob is highly experienced in all aspects of managing the financials of public companies, and has a strong history with the street and a proven track record in developing and delivering communications regarding the companies he represents. He also has strong corporate governance acumen and extensive mergers and acquisitions experience. His operational skills are precisely what we need at this time in the company’s development. I am thrilled to have him join our team," said Stretch.
Corey was most recently CFO of FrontRange Solutions USA, an enterprise software company. Prior to FrontRange, he served in various roles at Extreme Networks, Inc., an Ethernet solutions company from July 2009 to March 2011, ultimately as interim CEO and EVP and CFO. Prior to Extreme Networks, Corey held a variety of executive positions, including EVP and CFO, at Thor Technologies, Inc., an enterprise software company, from May 2003 to January 2006. Corey currently serves as a member of the board of directors and as chairman of the audit committee for Apigee Corporation, a private software development tools and services company.
Corey is replacing Ronald J. Fior, who served as the company’s SVP, finance and operations and CFO for 10 years. Fior will remain in his present role through the filing of the company’s Form 10-Q for the first quarter of 2013, and will continue with the company through July 31 to help ensure a smooth transition.
"I have been greatly impressed with CallidusCloud’s successful transition to SaaS. Their proposition of helping companies sell more, faster and the combination of SaaS products that address the urgent needs of sales and marketing divisions across the globe place them in a unique position to profitably grow as a category leader," said Mr. Corey.
Callidus Software is a leading provider of cloud software. CallidusCloud enables organizations to drive performance and productivity across their businesses with our hiring, learning, marketing and selling clouds. CallidusCloud drives performance and productivity for nearly 2,000 leading organizations.
U.K. helps bolster Kellogg’s Q1 results
Kellogg’s North American first quarter results were solid, but its performance overseas, particularly in the U.K., helped bolster its results. The company reported net sales of $4 billion, an increase of 12%. Meanwhile, internal net sales, which exclude the effects of foreign currency translation, acquisitions, dispositions and integration costs, rose by 2.2 percent over the same period.
Kellogg’s operating profit was $503 million, a reported decrease of 4.5%. The company’s underlying internal operating profit, which excludes the effects of foreign currency translation, acquisitions, dispositions, mark-to-market accounting and integration costs, decreased by 6%. The company cites considerable cost-of-goods-sold inflation in the quarter as the reason for the decline in its internal operations profits. Results in the first quarter included a majority of the inflation, net of cost savings, which the company expects to recognize for the full year.
"Results in the first quarter were broadly as we expected, and we’re pleased to have a solid start to the year," said John Bryant, Kellogg Company’s president and CEO. "We saw good comparable revenue growth in many regions around the world and the Pringles business continued to post strong results. As a result, we’re also pleased to report that we’re on-track to meet our guidance for the full-year."
Kellogg’s North America net sales were $2.6 billion in the first quarter, a reported increase of 8%, while internal net sales increased by nearly 2%. The U.S. Morning Foods segment posted internal net sales growth of 1.6%. Internal net sales in the U.S. Snacks segment declined by 1.7%. The U.S. Specialty Channels segment posted 3.4% internal net sales growth in the quarter and the North America Other segment, which is comprised of the U.S. Frozen Foods and Canadian businesses, achieved 7.4% internal sales growth. Reported operating profit in North America increased by 1.2% while internal operating profit declined by 3.5%, again largely as the result of the cost-of-goods-sold inflation.
The company reported a net sales increase of nearly 29% in Europe in the quarter, while internal net sales increased by 2.6%, primarily as the result of good growth in the United Kingdom. In Latin America, reported net sales increased by nearly 14%, and internal net sales increased by 7.4%. Reported net sales in Asia Pacific increased by nearly 15%, and internal net sales increased by 0.3%, although consumption increased at a faster rate.