January 3, 2005,
Taylor Takes EVP Post at Home Depot
The Home Depot has promoted Tom Taylor, a 21-year company veteran, to the newly created role of executive vice president, Home Depot Stores.
The company has also promoted Paul Raines, regional vice president, Florida, to division president. Raines and the other two U.S. division presidents and the president of the Mexico Division will report directly to Taylor.
Home Depot is now having its Global Supply Chain and Business Process Improvement groups report directly to Liebert. He was formerly senior vice president and division president for Circuit City prior to joining the company in 2003.
Babies “R” Us Heads For The Apple
Toys “R” Us will open its first Babies “R” Us store in Manhattan prior to holiday 2005, replacing the Toys “R” Us store that currently occupies the space on Union Square.
“We've been looking for some time for the right home for Babies “R” Us in Manhattan,” said John Eyler, CEO and Chairman of Toys “R” Us, Inc. “With the success of Toys “R” Us Times Square, we felt our shareholders and customers would be best served if we converted the Union Square location to a Babies “R” Us store.”
Toys “R” Us, Inc. began the conversion process by initiating a clearance sale at the Union Square store on December 26. The retailer currently operates 211 Babies “R” Us units.
Amazon Sales Set Holiday Record
In what was a good holiday season for online retailers in general, Amazon.com set a single-day record of more than 2.8 million units ordered — about 32 items per second, worldwide.
In the Home & Garden section of the site, kitchen items headed the list, particularly gadgets, small electronics and glassware. Sales of consumer electronics surpassed book sales for the first time in the company's history.
Saks Closing Iowa City Younkers Store
Saks Incorporated will close its 60,000-square-foot Younkers store at the Old Capitol Mall in Iowa City, Iowa by the end of this month.
George Jones, president and CEO of Saks Department Store Group, commented, “This planned closing is consistent with our strategy of rationalizing our real estate portfolio so that we can focus our resources on our most productive locations. We remain very committed to Younkers' home state of Iowa, where we operate 19 other Younkers stores. We will continue to meet the needs of our loyal Iowa City customers in our nearby Coralville and Cedar Rapids locations.”
Younkers employs approximately 60 associates in the Iowa City store. They will be offered transfer opportunities or severance packages.
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