IndustryEye: People on the Move, Financial Briefs, Acquisitions
People On the Move
MCM Electronics: Phil Minix has been named president of Centerville, Ohio-based B-to-B catalog distributor MCM Electronics. A member of the Catalog Success editorial board, Minix is a 12-year veteran of the catalog/direct business. He most recently served as president of Astral Direct. Prior to that, he worked at Reiman Publications and J. Schmid & Assoc.
Sharper Image: Andrew P. Reich has been named EVP of merchandising. James Sander has been named SVP, general counsel and corporate secretary.
Eddie Bauer: Neil S. Fiske, the head of Limited Brands’ Bath and Body Works, has been appointed president and CEO. Fiske, 45, replaces Eddie Bauer’s interim CEO Howard Gross.
Talbots: Trudy Sullivan has been named CEO of this clothing retailer. Previously, she served as president of Liz Claiborne. She succeeds Arnold Zetcher, who is resigning after two decades at Talbots’ helm.
Red Envelope: Despite a 0.4 percent loss for the recently completed fourth fiscal quarter ($21.9 million in net revenue, compared to $22 million in 2006), the retailer posted a 7.1 percent gain for the fiscal year. Net revenues grew to $121.3 million, compared to $113.2 million in 2006.
MSC Industrial Direct: Bolstered by its acquisition of the J&L Industrial Supply catalog last year, MSC Industrial Direct reported a 30.7 percent gain in the third quarter of the 2007 fiscal year. Net sales were $431.1 million, compared with $329.8 million in the third quarter of the 2006 fiscal year. Sales from the J & L acquisition accounted for approximately 74 percent of the overall sales growth in the quarter.
JoS. A. Bank Clothiers: JoS. A. Bank Clothiers reported its total net sales for the fiscal month ended June 2, 2007 (fiscal May 2007) increased 23.4 percent to $45.3 million versus $36.7 million in the fiscal month ended May 27, 2006 (fiscal May 2006). Comparable stores sales gained 13.5 percent in fiscal May 2007, as compared with fiscal May 2006, while direct marketing sales increased 16.3 percent. The company sells its full product line through 388 stores, a nationwide catalog and an e-commerce Web site.