A strengthened omnichannel fulfillment model helped slow the pace of sales declines at Toys"R"Us last year, and now the retailer is looking to execute the next phases of its transformation strategy to restore profitable growth. The company spelled out details of its strategy on March 25 during an investor conference with presentations from Antonio Urcelay, chairman and CEO, Hank Mullany, president of Toys"R"Us, U.S., and Mike Short, executive vice president and CFO. During 2015, the company said its "TRU Transformation" strategy will focus on four key priorities:
Christmas is still more than three months away, but the game is already on in the toy aisle with both Wal-Mart and Toys"R"Us publishing some of their holiday toy lists Wednesday. Winning the game for Toys"R"Us isn't just about picking the hit product, it's also about proving there's viable room for it to exist and win as a specialty toy retailer, as other specialty chains from Best Buy to Barnes & Noble also guard their respective foothold against rivals from Wal-Mart to Amazon.com.
The Toys"R"Us board has chosen interim Chief Executive Officer Antonio Urcelay as chief executive, but has paired him with a former Wal-Mart executive as the head of the Wayne, N.J.-based company's U.S. retail operations. The announcement this week follows an eight-month search that followed the resignation of former CEO Jerry Storch in February. Urcelay, who previously headed Toys’ global operations, was named interim CEO soon after Storch stepped aside, but has kept a relatively low profile in the interim position. Hank Mullany, a former executive vice president of Wal-Mart, U.S., was named president of Toys"R"Us, U.S., effective Nov. 5.
Toys “R” Us late Wednesday named Antonio Urcelay CEO and brought in former Walmart executive Hank Mullany to serve in the newly created role of president of U.S. stores. Urcelay, 61, had served in...
Woonsocket, R.I. -- CVS Caremark Corp. said Tuesday it is resuming its search for a new president of its pharmacy operations in view of Wal-Mart Stores’ lawsuit to block its previous choice. The company said executives Mike Bloom and Scott Baker will lead the retail pharmacy business while CVS Caremark seeks a permanent president. Baker is in charge of CVS Caremark's internal operations and real estate, and he has been with the company for about 25 years. Bloom is in charge of merchandising and the company's supply chain. He has worked for CVS and CVS Caremark for 20 years.
CVS Caremark announced that former Wal-Mart North executive Hank Mullany will succeed Larry Merlo as president of CVS/pharmacy. The move is part of the corporate succession plan announced last May in which Tom Ryan will retire as CEO prior to the next annual meeting and Merlo will step up as CEO.