The News Review:
- Amid Sales Slump Chico’s Taps New CE
- Renault vehicle sales drop sharply amid crisis
- US Same-Store Sales Decline Not As Bad As Expected
- Macy’s will close 11 stores
- Supervalu CE:Grocers Vendors Brace For Battle n Lower Prices
- Pacific Life Annuities & Mutual Funds Division Names New …
Amid Sales Slump Chico’s Taps New CE
Wall Street Journal
The former Tommy Hilfiger and Lands’ End executive said “we think we can grow the business to increase market share. ” The company has no long-term debt and more than $250 million in cash and marketable securities. n Thursday Chico’s also said December sales at stores open at least a year fell 12. 4% in line with analysts’ expectations and it expects “lower gross margins” in the fourth quarter due to the sales drop the promotional landscape and its intent to end the quarter with lower inventory levels. In an interview Mr. Roeder said he and Mr. Edmonds who became chief executive in 2003 and chairman in 2007 had been discussing succession plans for at least a year.
Renault vehicle sales drop sharply amid crisis
The Associated Press
Renault held its share of the world market for cars and light commercial vehicles steady at 3. Patrick Blain head of sales and marketing described the cave-in of the market from ctober as “violent and brutal” — and there could be worse to come. The crisis “will clearly continue in 2009″ he told a news conference. “The depth of this fall remains very difficult to predict. “Bleak prospects have caused auto makers worldwide to dramatically cut production. The steep decline in demand for cars has pushed Renault to abandon the sales targets of its four-year turnaround plan launched in 2006.
Related from Affiliaterevenuemonster: Renault Reports 29% Sales Drop Turns to Megane for Redemption
US Same-Store Sales Decline Not As Bad As Expected
CNNMoney.com
“We’re looking at a pyrrhic victory at best” said Todd Slater retail analystat Lazard Capital Markets. While most retailers did better than analysts’ expected their sales stillfell for the month reflecting softer business and dramatic price slashing. As a result fourth-quarter profit projections are coming down with “marginsworse almost everywhere” Slater said. Conditions are not expected to improve soon with January comparable storesales “likely to remain negative” Slater said.
Macy’s will close 11 stores
Ventura County Star CA
Cincinnati-based Macy’s Inc. said the closures will cost about $65 million most of which will be booked in the 2008 fourth quarter. Clearance sales at closing stores begin next week. “These closings are part of our normal-course process to prune underperforming locations each year in order to maintain a healthy portfolio of stores” Macy’s Chief Executive Terry J. Lundgren said in a news release. Employees at stores that are closing may be considered for open positions at other Macy’s stores the company said. Department-store operators have been among the harder-hit in the retail sector as consumers cut back amid the recession hunting for bargains and trading down to discounters.
Supervalu CE:Grocers Vendors Brace For Battle n Lower Prices
CNNMoney.com
“I think they’re going to be forced initially into more trade spending and thenultimately bringing prices down. ” Supervalu stores have taken a hit during the recession as shoppers bothtraded down to cheaper products within their stores and also cut back ondiscretionary items like flowers and purchases from its coffee bars. For itsfiscal-third quarter the third-largest food retailer by sales reportedWednesday its sales of $10. 17 billion were slightly lower from the prior yearperiod. Identical store-sales excluding fuel a key gauge of a retailer’s health alsofell 0. 5% for the quarter and the company predicted a full-year drop of 1%wider than previously expected. In addition to lowering everyday prices on items Supervalu is employing moretarget marketing toward shoppers at its Acme Jewel sco and Albertson’sbanners in hopes to make them more effective.
Pacific Life Annuities & Mutual Funds Division Names New …
MarketWatch (press release)
He will direct the formulation of sales plans in support of profitable returns and business growth through product development and sales. Chris has a Bachelor of Science degree from the University of Michigan in Ann Arbor Michigan. John White Vice President Sales John joined Pacific Life in 1994 as a Marketing Services Representative in the Annuities Division. He had six years of experience in sales and marketing prior to coming to Pacific Life. He was promoted to Marketing Services Manager in 1996 Marketing Services Director in 1997 and Assistant Vice President Internal Wholesaling in 1999. In 2006 John was named Vice President Internal Wholesaling. In his role as Vice President Sales John will manage all aspects of new and existing relationships across the division’s distribution channels and regional lines in order to grow distribution of Pacific Life products.