Kirkland's SVP and CFO W. Michael Madden has been promoted to president and chief operating officer, effective immediately. Madden will remain the company’s principal financial officer pursuant to S.E.C requirements.
Four years after it opened its first location in New York City, teen and pre-teen bargain retailer Five Below is set to open its first location in Brooklyn at the borough’s Gateway Center Aug. 29. The 7,500-sq.-ft. store will feature all of the company’s merchandise, all priced at or below $5.
Dollar Tree delivered its 26th consecutive quarter of positive comparable store sales growth in the second quarter, but profit declined 2.6% thanks to increased freight costs and investments in higher-value products.
PetSmart is exploring strategic alternatives to maximize shareholder value, including a possible sale of the company. The news comes on the heels of its second quarter results, and just a little less than two months after activist investor Jana Partners acquired a 9.9% stake in the company and began looking to make changes.
Staples chairman and CEO Ron Sargent said that the company has more work to do to stabilize its retail business, following a 20% decline in net income to $81.88 million for the second quarter, from $102.53 million in the prior year.