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Salaries In Line With Earnings

New York — Taking a longer view and measuring executive salaries versus company performance from 1992 through 1994, every supplier in the sample for whom three-year data is available took home raises that were less than the gain in their company's profits.

Ditto the retailers in this year's survey of executive compensation. The vast majority — two-thirds, or 48 of the 69 with three-year data available — actually underperformed their companies in terms of salary growth.

Mohawk CEO Jeffrey Lorberbaum had a 25.3 percent increase in total compensation over the three-year period, while Mohawk profits grew somewhat faster, 29.6 percent. At Mohawk Home, Bill Kilbride's compensation package grew by 4.6 percent, compared with Mohawk's earnings gain of almost 30 percent.

Profits at Crown Crafts were virtually flat over the three-year period, declining just 0.6 percent, but CEO E. Randall Chestnut took a pay cut of 32.9 percent.

At Stein Mart, Michael Fisher's salary rose more than twice as fast as the retailer's profits, 176.8 percent, compared with the retailer's earnings gain of 83.5 percent. And at Federated, Terry Lundgren bagged a 23.7 percent increase in pay, as Federated's profits slid 15.8 percent. At Pier 1, the company's profits skidded 53.3 percent, yet CEO Marvin Girouard took a 5.3 percent raise.

Vendors: 3-year salary vs. earnings comparison
dollar amounts in thousands

Name Company Tot. comp change Sales Income
Jeffrey S. Lorberbaum Mohawk 25.3% 30.0% 29.6%
H. Monte Thorton Mohawk 16.2 30.0 29.6
Arthur S. Birkins WestPoint Stevens 4.6 -10.6 N.A
William B. Kilbride Mohawk Home 4.6 30.0 29.6
M. Beatrice Spires Quaker Fabric 1.3 -20.9 N.A
Mark Hellwig Quaker Fabric 1.3 -20.9 N.A
Larry A. Liebenow Quaker Fabric 1.3 -20.9 N.A
Thomas Muzekari Quaker Fabric 1.3 -20.9 N.A
Rodney A. Smith Culp -0.6 -15.6 N.A
Robert B. Dale WestPoint Stevens -1.3 -10.6 N.A
Joseph C. Tucker Wellman -4.1 28.7 N.A
Franklin N. Saxon Culp -5.0 -15.6 N.A
Thomas M. Duff Wellman -6.1 28.7 N.A
Robert G. Culp Culp -7.5 -15.6 N.A
M. L. (Chip) Fontenot WestPoint Stevens -18.8 -10.6 N.A
Nanci Freeman Crown Crafts -22.4 -11.4 -0.6
E. Randall Chestnut Crown Crafts -32.9 -11.4 -0.6


Retailers: 3-year salary vs. earnings comparison
dollar amounts in thousands

Name Company Tot. comp change Sales Income
W.B. Johnson Kmart 314.2% -32.9% N.A
Alex Dillard Dillard's 295.2 -4.8 N.A
William Dillard II Dillard's 257.7 -4.8 N.A
L. Schultz Kmart 227.3 -32.9 N.A
Michael D. Fisher Stein Mart 176.8 4.1 83.5%
Drue Corbusier Dillard's 170.8 -4.8 N.A
Mike Dillard Dillard's 158.1 -4.8 N.A
Michael D. Ray Stein Mart 96.1 4.1 83.5
Kathleen R. Guion Dollar General 78.2 25.6 29.9
Alan Rosskamm Jo-Ann Stores 61.9 7.8 2.9
James D. Sinegal Costco 57.1 24.1 26.1
Jeffrey H. Brotman Costco 57.1 24.1 26.1
Heywood Wilansky Retail Ventures 48.9 11.8 N.A
Alexander W. Smith TJX 45.3 24.5 14.8
Dave Bolen Jo-Ann Stores 44.3 7.8 2.9
Thomas M.Belk Jr. Belk 41.8 9.2 47.7
Kathleen Mason Tuesday Morning 35.2 23.2 42.0
Robert J. Ulrich Target 34.9 6.9 93.3
Mary R. Delk Belk 30.6 9.2 47.7
Edwin J. Kozlowski Retail Ventures 28.6 11.8 N.A
H.W. McKay Belk Belk 24.1 9.2 47.7
John R. Belk Belk 24.1 9.2 47.7
Terry J. Lundgren Federated Dept. Stores 23.7 1.3 -15.8
John H. Costello Home Depot 21.3 25.5 36.5
Carol Meyrowitz TJX 19.4 24.5 14.8
Robert L. Nardelli Home Depot 19.2 25.5 36.5
John C. Rossler Retail Ventures 18.7 11.8 N.A
W. Craig Jelinek Costco 18.0 24.1 26.1
Michael T. Wedge BJ's 17.5 26.0 -12.6
K.C. Hicks J.C.Penney 13.9 4.5 35.4
Michael J. Marchetti Tuesday Morning 13.9 23.2 42.0
Donald A. Brennan Kohl's 13.4 28.3 13.5
Herbert Zarkin BJ's 12.2 26.0 -12.6
Arthur Stark Bed Bath & Beyond 11.9 40.4 67.1
Matthew Fiorilli Bed Bath & Beyond 11.9 40.4 67.1
Gregg W. Steinhafel Target 11.6 6.9 93.3
Steven H. Temares Bed Bath & Beyond 10.7 40.4 67.1
Leonard Feinstein Bed Bath & Beyond 10.2 40.4 67.1
Warren Eisenberg Bed Bath & Beyond 10.2 40.4 67.1
Robert A. Niblock Lowe's 6.3 39.6 47.9
Mindy C. Meads Sears, Roebuck 6.3 -13.7 N.A
Edmond J. English TJX 6.0 24.5 14.8
Jay R. Jacobs Pier 1 Imports 5.8 8.1 -53.3
E. Mitchell Weatherly Pier 1 Imports 5.7 8.1 -53.3
Michael T. Duke Wal-Mart 5.5% 24.2% 29.1%
Marvin J. Girouard Pier 1 Imports 5.3 8.1 -53.3
John B. Menzer Wal-Mart 4.6 24.2 29.1
Peter A. Maich TJX 4.0 24.5 14.8
Arnold S. Barron TJX 3.1 24.5 14.8
Bruce E. Barkus Family Dollar 2.9 26.9 21.1
V.J. Castagna J.C.Penney 2.9 4.5 35.4
R. David Alexander, Jr. Family Dollar 2.3 26.9 21.1
Kevin B. Mansell Kohl's 2.2 28.3 13.5
Arlene Meier Kohl's 2.2 28.3 13.5
Patrick J. Connolly Williams-Sonoma 2.0 32.9 53.7
R. Lawrence Montgomery Kohl's 0.8 28.3 13.5
Jay L. Schottenstein Retail Ventures 0.0 11.8 N.A
Jay Stein Stein Mart 0.0 4.1 83.5
W. Howard Lester Williams-Sonoma 0.0 32.9 53.7
Edward Mueller Williams-Sonoma 0.0 32.9 53.7
Allen Questrom J.C.Penney -0.3 4.5 35.4
H. Lee Scott, Jr. Wal-Mart -0.5 24.2 29.1
Howard R. Levine Family Dollar -0.9 26.9 21.1
Dale C. Pond Lowe's -2.0 39.6 47.9
Gary G. Friedman Restoration Hardware -4.6 31.3 N.A
Robert L. Tillman Lowe's -4.7 39.6 47.9
Larry D. Stone Lowe's -6.2 39.6 47.9
Alan J. Lacy Sears, Roebuck -6.3 -13.7 -136.8
Laura Alber Williams-Sonoma -6.8 32.9 53.7
Stephen Gordon Restoration Hardware -8.3 31.3 N.A
F. David Coder Linens 'n Things -8.7 21.8 -12.6
John L. Dunham May Dept. Stores -11.7 7.0 -3.3
Edward F. Giles BJ's -11.8 26.0 -12.6
James A. Austin Hancock Fabrics -12.4 -2.6 -91.1
Larry G. Kirk Hancock Fabrics -13.4 -2.6 -91.1
Julian Day Kmart -14.4 -32.9 N.A
William P. McNamara May Dept. Stores -15.0 7.0 -3.3
Norman Axelrod Linens 'n Things -15.3 21.8 -12.6
Jay H. Levitt May Dept. Stores -15.4 7.0 -3.3
Audrey Schlaepfer Linens 'n Things -17.8 21.8 -12.6
Stonie R. O'Briant Dollar General -23.1 25.6 29.9
Brian N. Priddy The Bombay Company -32.4 16.6 N.A
Eugene S. Kahn May Dept. Stores -35.0 7.0 -3.3
David A. Perdue Dollar General -37.9 25.6 29.9
Stephen Farley The Bombay Company -40.8 16.6 N.A
John M. Belk Belk -67.0 9.2 47.7
James D. Carreker The Bombay Company -94.8 16.6 N.A


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