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Olympia unveils new line of lights, power solutions

BY David Salazar

Flashlight company Olympia unveiled a new line of flashlights and headlamps, as well as two-way radios, solar chargers and rechargeable batteries at this year’s Outdoor Retailer Show in Salt Lake City. The new products are focused on energy efficiency.

Among the new flashlight offerings are aluminum with five light settings, and they all use LED lights. The most high-end flashlight in the line comes with a charger built in for the Lithium-Ion battery inside and it retails for $89.99. Olympia’s EX headlamps also have LED bulbs for longer battery life, and the line includes waterproof lights, hands-free headlamps.

Other lights introduced in Salt Lake City were Olympia’s Wilderness Series LED lanterns with rechargeable batteries that will be available in October. This is around the same time the company starts selling its LED portable floodlights.

The company’s new two-way radios will begin retailing in September and come in three models. The top-of-the-line R500 model features an LED flashlight. All of them can be charged with a micro-USB.

In addition to expanding its product offerings, Olympia introduced more ways to charge their products. In addition to a line of Lithium-ion battery line that will be available in October, the company has also introduced solar chargers. One of the chargers is fully reliant on solar energy, and another has a combination of a battery and solar panels. 

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Golden Hammer Profile: Boise Cascade

BY Steph Koyfman

For a company whose fortunes are tied to up-and-down housing starts and remodel-and-repair activity, Boise Cascade has found a way to establish stability for itself in the marketplace.

Its steadfastness is noticed within the industry, because the Boise, Idaho-based lumber supplier and building materials distributor garnered enough nominations to win the 2014 Golden Hammer Award in the Lumber & Plywood category.

"Boise Cascade has been known as a progressive forest and building products distributor," explained division sales and marketing manager Frank Elfering. "We are proud of our consistency and stability in the market place. We improve by constant evolution."

In part, its ability to maintain its position in the marketplace rests on the wideness of its network. Boise is 32 distribution facilities large, providing a broad assortment of building products and services to lumber dealers, home improvement retailers and industrial customers across the country.

That network is only continuing to expand, especially with the recent expansion to a new site in Kansas City and a widening of product offerings across the board.

It also maintains an edge over its competition by doubling down on its inside/outside storage capacity to maintain its stock and keep high fill rates for its customers.

With double-digit sales growth of 13% putting a crowning touch on its recent second-quarter earnings report, Boise Cascade is maintaining its edge and growing stronger.

The above is one of a series of profiles recognizing this year’s Golden Hammer Vendor winners, to appear on HomeChannelNews.com and in HCN Daily. Thirty-one Golden Hammer Vendor winners were honored this year at the 2014 National Hardware Show in Las Vegas.

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Brian Cornell named chairman and CEO at Target

BY Mike Troy

Retail and consumer products veteran Brian Cornell was named chairman and CEO at Target to fill two of the three roles previously held by the company’s former top executive Gregg Steinhafel.

Cornell will assume his new responsibilities at Target on August 12 after most recently serving as CEO of PepsiCo Americas Foods for two years. He brings a well-rounded background in retail and CPG to Target. Prior to PepsiCo, Cornell served as president and CEO of Walmart’s Sam’s Club division for roughly three years. He came to Sam’s Club after serving as CEO of Michaels Stores and also held the role of chief marketing officer at Safeway. Earlier in his career, Cornell held general management positions at PepsiCo, including president of Tropicana, president of PepsiCo beverages for Europe and Africa, and president of PepsiCo North America Foodservice.

In a brief statement announcing his appointment, Target said Cornell’s top priorities would be to accelerate the company’s performance and advance its omnichannel evolution.

“As we seek to aggressively move Target forward and establish the company as a top omnichannel retailer, we focused on identifying an extraordinary leader who could bring vision, focus and a wealth of experience to Target’s transformation,” said Roxanne S. Austin, the interim non-executive chair of the Target board who led the search for Steinhafel’s replacement. Steinhafel, who also held the title of president, stepped down in early May and his responsibilities were filled on an interim basis by CFO John Mulligan.

“The board is confident that Brian’s diverse and broad experience in retail and consumer products as well as his passion for leading high performing teams will propel Target forward.”

Cornell said he was honored and humbled to join Target as the first CEO hired from outside the company.

“I am committed to empowering this talented team to realize its full potential, lead change and strengthen the love guests have for this brand,” Cornell said. “As we create the Target of tomorrow, I will focus on our current business performance in both the U.S. and Canada and on how we accelerate our omnichannel transformation.”

In exchange for his services, Cornell will receive a lucrative compensation package that includes an annual salary of $1.3 million, a 2014 pro-rated cash incentive equal to 150% of his base sales and stock-based awards with a potential payout of $3.75 million. In addition, in 2015 Cornell will received stock-based awards with a potential value of $9 million. Target is also on the hook to compensate Cornell for incentive awards and grants he forfeits by leaving PepsiCo. Target said it would provide Cornell with a make-whole equity grant and a make-whole pro-rata annual bonus valued at more than $19 million, minus whatever portion of that amount Cornell is able to retain from his former employer. Target said it was unable to determine that amount at the time details of his compensation were disclosed in a filing with the Securities and Exchange Commission.

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