REI, a leading specialty retailer of outdoor gear and apparel, achieved record annual sales of $2 billion in 2013, up 5.9% from $1.9 billion the previous year, despite a challenging retail environment and severe winter weather.
Hibbett Sports experienced a significant slowdown in January due to significant weather-related store closures and a less favorable sales impact this year from the college football championship game. However, sales trends improved in February as weather patterns normalized and the retailer rolled out its spring assortment.
Genesco chairman, president and CEO Robert J. Dennis said that the company’s overall fourth-quarter results were lower than expected, thanks to inconsistent sales patterns and severe winter storms that affected its key markets.
In 1984, at the impressionable age of 17, Doug McMillon’s journey with Walmart began in a way that hardly foretold he would one day become CEO. On the way to a Walmart warehouse for his first day of unloading trucks, McMillon rear-ended his supervisor’s car with his father’s Honda Civic, he recalled in the February issue of Walmart World.
Walmart deepened its commitment to domestic sourcing and supply chain efficiency on Thursday when Walmart U.S. president and CEO Bill Simon unveiled a first-of-its-kind RFP process and a new Innovation Fund.