Supervalu CEO warns investors of upcoming Q1 results
MINNEAPOLIS Within one week after the close of its first quarter ended, June 20, Supervalu officials warned investors that results will be “substantially” less than originally anticipated.
“Since providing guidance on our fourth-quarter earnings call, consumers have become more value focused and cautious in their spending, which has pressured sales and margins greater than anticipated,” said Supervalu CEO Craig Herkert. “We currently estimate our identical-store sales will be approximately negative 3%. We will update annual guidance on July 28 with our first-quarter earnings release,” he said. “I am engaged in a full review of our operations and support functions. Supervalu has significant potential.”
Hallmark announces e-card subscription plan
KANSAS CITY, Mo. Hallmark Cards announced its first e-card subscription plan, which offers consumers unlimited sending of exclusive e-cards for $9.99 per year.
The plan encompasses all of Hallmark’s premium e-cards, including those featuring hoops&yoyo and Maxine, as well as licensed e-cards with hit music and such TV shows and movies as “The Office,” “Madagascar” and “Star Wars.” Premium Hallmark e-cards sell individually for 99 cents each.
Consumers can personalize the e-cards when it is convenient, and Hallmark will send them anytime during the course of the subscription. Hallmark’s reminder service and address book make it easy to remember important dates and events.
“We know people enjoy connecting with their friends and family by using e-cards featuring their favorite characters, movies and music,” noted Hallmark product manager Shelley Mathews. “This plan makes it easy and convenient to send those e-cards when they’re needed. Consumers can select and address their e-cards ahead of time, and Hallmark will send them out right on time.”
Wal-Mart names chief diversity officer
BENTONVILLE, Ark. Walmart has appointed L. Mecole “Cole” Brown to serve as chief diversity officer. Brown will be responsible for the oversight and coordination of the diversity strategy for the company’s U.S. business.
Brown joined Walmart’s legal team in 2002, and has held senior positions in Sam’s Club and Walmart’s office of diversity. Brown was appointed to VP employment practices in August 2007.
Brown succeeds Charlyn Jarrells Porter, who served as the company’s first chief diversity officer from 2004 to 2009. Porter announced her retirement in March, after more than 16 years with the company.