Monday Tipsheet: H.Depot’s Menear Groomed as CEO? | Sears Breach | Fred’s for Sale


“Home Depot’s New President Craig Menear Said to Be Groomed as CEO” by Matt Townsend at Bloomberg.  “Home Depot Inc.’s promotion of Craig Menear to president of its U.S. retail division is part of a succession plan for Chief Executive Officer Frank Blake, according to a person with knowledge of the situation.  Menear, 56, is the leading candidate to become the next CEO of the largest U.S. home-improvement chain, said the person, who asked not to be named because the talks are private.”  Read more


“Home Depot Names Craig Menear President, U.S. Retail, Mark Holifield EVP, Supply Chain and Product Development”  “Menear will add responsibility for all U.S. store operations, with Marvin Ellison, executive vice president, U.S. stores, reporting to Menear.  …Mark Holifield, senior vice president, supply chain, has been named executive vice president, supply chain and product development, with responsibility for sourcing and proprietary brands. Holifield will continue reporting to Menear.”  Read the release


“Secret Service investigating possible data breach at Sears” at Chicago Tribune.  “The U.S. Secret Service is investigating a possible security breach at Sears Holdings Corp…The person, who asked not to be named because the matter is under investigation, didn’t disclose details about the scope or timing of the possible breach.”  Read more


“Report:  Fred’s Sale Pitched to Dollar General, Walgreens & CVS” by Jodi Xu & Laura Lorenzetti at Bloomberg.  ““The crown jewel of Fred’s is its pharmacy business,” Fox said in an interview. “It’s incredibly difficult to cold-start such a business.”  Fred’s, which operates more than 700 general merchandise stores in the Southeastern U.S., said in January it hired Bank of America Corp. and Peter J. Solomon Co. to explore strategic options and enhance shareholder value after holiday-season sales disappointed.” Read more


“Dick’s Sporting Goods: Rival CEO posed as exec to get secrets” at The Salt Lake Tribune.  “Dick’s alleges Modell told employees he was to meet the Dick’s CEO there and persuaded workers to show him the backroom of the store and to answer questions about the business. Modell gathered information about online sales, including a “ship from store” program that gets products to customers’ doors quickly, the lawsuit said.”  Read more


“Neiman Marcus Hones in on Australian Customers” by Campbell Phillips at Power Retail.  “Lindy Rawlinson, Senior Vice President of E-Commerce for Neiman Marcus Direct is currently in Australia meeting with marketing partners…“We started shipping to Australia just over a year ago in November 2012, but we’ve really started to put much more of a focus on it in the past six to eight months, both in terms of the marketing and PR efforts.”  Read more


“P&G smells success in high-end fragrances” by Alexander Coolidge at Cincy Enquirer.  “P&G’s “prestige fragrance” business now generates an estimated $2.5 billion in sales a year – accounting for more than 10 percent of the company’s total beauty unit revenue. Prestige brands, which also includes SK-II high-end skin care, have tripled sales and quadrupled profits since 2000.” Read more


“Happening Today:  Home Depot Presents at Raymond James Investor Conference at 8:05 am ET”  Listen to Webcast


“Mike Rowe responds to the never-ending backlash surrounding his Walmart commercial” at Glenn Beck.  “When people you’ve been trained to sort of despise – who are corporations in this case – suddenly do something that you actually really agree with, you’re put in a state of confusion,” Mike explained. “In this case we’re talking about Walmart pledging to put in $250 billion of U.S. manufacturing, basically promising to buy a quarter of a trillion dollars worth of U.S. products over the next 10 years. It’s a very simple promise, but it’s very counterintuitive in a lot of people’s minds to what Walmart has become.”  Read more


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