Target merchandising executive Casey Carl was given added responsibilities for the retailer’s online businesses, following a series of snafus related to an August relaunch that resulted in the departure of former online president Steve Eastman.
The unexpected announcement that Target EVP and CFO Doug Scovanner will retire on March 31, 2012, has investors speculating about the reasons for his departure following the recent exit of other key executives.
Hyper-local initiatives and the rollout of sales tools at Supervalu, along with inflation, are helping to drive better-than-expected comparable sales for the company's second-quarter results, Supervalu reported Wednesday morning.
July same-store sales at Target rose 4.1% on top of a prior-year gain of 2%, with increased transaction size serving as the primary driver of an increase toward the upward end of the company’s guidance.
In an effort to increase the stickiness of Supervalu shoppers, Supervalu president and CEO Craig Herkert on Tuesday spoke of the company’s “hyper-local retailing” concept during a conference call with analysts.
Supervalu on Tuesday reported first-quarter fiscal 2012 net sales of $11.1 billion (down 3.7% versus last year) and net earnings of $74 million (up 10.4%), or 35 cents per diluted share. Posted net earnings beat the analyst consensus of 33 cents per diluted share.