Wal-Mart exec to run fast-growing Save-A-Lot
Eden Prairie, Minn. — Supervalu has named Santiago Roces, a former Wal-Mart Stores executive, as the CEO and president of its discount Save-A-Lot division. Roces, who most recently served as senior VP and general manager of Wal-Mart’s small-format division, replaces Bill Shaner, who led Save-A-Lot since 2006 and worked for Supervalu for 27 years.
Supervalu it plans to double the number of Save-A-Lot stores, growing it to more than 2,400 locations by the end of 2015.
Roces is not the first Wal-Mart executive to join Supervalu. Company CEO Craig Herkert also worked at the giant discounter.
ComScore: Q1 online sales up 12% to $38 billion
Reston, Va. — Online U.S. retail spending reached $38.0 billion for the first quarter, up 12% versus year ago, according to comScore. It marked the sixth consecutive quarter of positive year-over-year growth and second consecutive quarter of double-digit growth rates.
“Faced with rapidly rising gas prices and stubbornly high unemployment, consumers continued to take advantage of the Internet’s lower prices by shifting their spending from offline retail stores,” said comScore chairman Gian Fulgoni. “In fact, in the first quarter, the growth in e-commerce spending was roughly double that observed at offline retail.”
The top-performing online product categories were: video games, consoles & accessories; books & magazines; computers/peripherals/PDAs; consumer electronics; and computer software (excluding PC games). Each of the categories grew at least 13% in first quarter 2011 over a year ago.
According to comScore, the Top 25 online retailers accounted for 67.7% of dollars spent online, the same percentage as last year.
Victoria’s Secret at Miracle Mile to undergo multi-million dollar remodel
New York City — Victoria’s Secret will begins construction on a multi- million dollar renovation of its store in Miracle Mile Shops at Planet Hollywood Resort & Casino in Las Vegas in late May.
Construction will take approximately three-months to complete. The newly renovated 7,722-sq.-ft. store will serve as a prototype for Victoria’s Secret, featuring various design elements not found at any of its other Las Vegas locations.