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An Upbeat Nardelli Credits Technology

BY CSA STAFF

New York City, Home Depot CEO Bob Nardelli delivered a tech-friendly presentation at the National Retail Federation Big Show in New York City.

“Technology has never let me down,” said Nardelli, who sang the praises of automatic replenishment, inventory control, in-store kiosks and self-checkout technology, among other recent investments. During his five-year tenure as the top executive of the nation’s second-largest retailer, tech investment has spurred growth and improved operations, leading to an increase in the average ticket from $48 to $58. “Ten dollars doesn’t sound like much until you multiply it by 1.3 billion transactions,” he said. As an example of how far the company has come from a systems perspective, he pointed to his first day on the job at The Home Depot, when he asked to send an e-mail to all the store managers in the chain. He was told that he couldn’t—the company didn’t have the system in place at the time.

Nardelli’s economic outlook was extremely positive, despite a cooling housing market in many areas of the United States and rising interest rates. Unemployment is down and reinvestment in housing is strong, he said. “Home improvement is the absolute sweet spot of retail. … We are excited about the economy.”

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S.Gacho says:
Mar-29-2013 02:42 pm

Technology makes life easier
Technology makes life easier now. Most of the work we depend on the technology like washing machine and etc. It makes our time more efficient. - Aldo Todini

S.Gacho says:
Mar-29-2013 02:42 pm

Technology makes life easier now. Most of the work we depend on the technology like washing machine and etc. It makes our time more efficient. - Aldo Todini

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Kmart Reduces Full-Time Employee Roster

BY CSA STAFF

Troy, Mich., Kmart has outlined a new plan that reduces its full-time work force in favor of more part-timers at its 1,400 stores nationwide.

Some recently terminated full-time Kmart employees have been offered some of the part-time slots.

The new plan is entitled “Full-Time-Part-Time Workforce Adjustment Guidelines,” and is one of the latest cost-cutting steps taken by Kmart since it merged with Sears, Roebuck and Co. last year.

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Eddie Bauer Identifies Accounting Errors

BY CSA STAFF

Redmond, Wash., Newly emerged from bankruptcy, Eddie Bauer Holdings has identified errors in its balance sheets and cash-flow statements. The company has issued a statement saying that the errors will be corrected, but that they will not have an effect on net cash flows.

The company also announced the departure of CFO Timothy McLaughlin, who has been replaced in the interim by David Taylor, effective immediately.

The financial understatements are related to lease accounting.

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