The Grocery Manufacturers Association (GMA) has presented retired Walmart president and CEO Mike Duke with its 2014 Hall of Achievement Award at the GMA Leadership Forum at The Broadmoor. The Hall of Achievement Award represents the highest honor given by the more than 100 year-old association.
Two industry retailers were honored for their political advocacy and grassroots support at the National Association of Chain Drug Stores Political Involvement Reception during the NACDS Total Store Expo.
Hibbett Sports president and CEO Jeff Rosenthal said that comparable store sales for the second quarter ended Aug. 2 were softer than expected. However, he is encouraged by improvement in traffic in early August.
During the fourth quarter, Tuesday Morning Corporation continued working on the final phase of its turnaround program. Judging by its comparable-store sales trend, increased inventory turnover and improved cash position, the company’s plan is working.
Although Ann Inc. began the quarter on a positive note, the company was unable to capitalize on the momentum it generated through mid-June. The second half of the quarter was marked by softer traffic levels and a highly promotional environment that pressured sales and margin.
Although same-store sales at Gap were flat in the second quarter, the company reported a better-than-expected quarterly profit, buoyed by strong sales at Old Navy, and raised its full-year profit forecast as a result.
The Home Depot has named Craig Menear, currently president, U.S. retail, as CEO and president, effective November 1, and has elected him to the company's board of directors, effectively immediately. Current chairman and CEO Frank Blake will remain chairman.