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Home Depot names new chief marketing officer

BY HBSDEALER Staff

Home Depot has announced Frank Bifulco, a veteran of Hasbro and Coca-Cola, will take on the position of senior vp and chief marketing officer effective April 28.

Bifulco will report to Craig Menear, Home Depot’s executive vp-merchandising, according to the company. John Ross, who served as the interim head of the company’s marketing department while performing his regular duties, will remain in his role of vp-advertising.

Bifulco will have full responsibility for the strategic marketing vision of Home Depot, along with category marketing and brand development.

Bifulco most recently served as chief customer officer and president of Hasbro North America Sales. In this role, he was responsible for account management and for setting the overall customer strategy and go-to-market approach for driving Hasbro’s toy and game sales in the United States, Canada and Mexico.

Previously, Bifulco served as the chief marketing officer for Timberland. From 1994 to 2000, he was the senior vp-marketing for Coca-Cola North America, responsible for brand management and for volume-driving consumer marketing plans across the United States and Canada. He started his professional career at Procter & Gamble.

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IKEA’s first New York City store to open in June

BY HBSDEALER Staff

IKEA’s future Brooklyn, N.Y., store — the Swedish retailer’s first location in New York City — will open June 18, the company announced.

IKEA Brooklyn, a 346,000-square-foot store, will be the company’s fourth location in the New York-New Jersey area, and 35th in the United States. Other area stores are in Elizabeth, N.J.; Hicksville, N.Y.; and Paramus, N.J.

“We made excellent progress on construction last year and so far this spring, so we are confident the remaining construction milestones and interior build-up process will be complete by mid-June,” said Mike Baker, store manager of the future IKEA Brooklyn, in a press release.

IKEA Brooklyn will include 50 different room settings, three model home interiors and a 450-seat restaurant with views of the lower Manhattan skyline and Statue of Liberty. Family-friendly features include a “Children’s IKEA” area in the showroom, baby care rooms, preferred parking and play areas throughout the store.

IKEA Brooklyn also will offer home delivery, kitchen installation and design consultation services. The project, situated on 22 acres along the Erie Basin waterfront in Red Hook, features a 6.5-acre public esplanade with nearby ferry, bus and subway service available.

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ScottsMiracle-Gro optimistic for 2008, despite slow second quarter

BY HBSDEALER Staff

Despite a late launch to the lawn and garden season, which led to adjusted earnings for the second quarter, ScottsMiracle-Gro remains “encouraged by initial consumer response” to new products and has reaffirmed guidance for the year.

“Consumer activity over the first two weeks of April has been strong, and we are recovering ground we lost due to a later than expected break to the season in most parts of the United States,” said Jim Hagedorn, chairman and CEO. “Weather always dictates the launch of the season, and this year got off to a slower start than we’ve typically experienced.”

The Marysville, Ohio-based company said it expects adjusted earnings in the second quarter, which ended March 29, to range from approximately $1.14 to $1.18 per diluted share, compared to adjusted earnings of $1.40 per share for the same period a year ago. Hagedorn said that while second-quarter and first-half results will be less than the company had expected, the first two quarters historically represent about 25 percent of consumer purchases for the full year.

“We remain encouraged by initial consumer response to our new products as well as the quality of our programs and promotions, and see no reason at this time to change our outlook for the full year,” he said.

Fiscal 2008 reported results will include $15 million to $20 million in unexpected costs due to a voluntary retail recall of wild bird food. A significant portion of this cost will be included in the second-quarter results. The company will account for costs associated with the recall on the line “restructuring and other one-time charges.” As a result, ScottsMiracle-Gro will exclude these costs when discussing its expected results for the full year.

ScottsMiracle-Gro will report its complete second-quarter results on April 29.

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