Mattel plays executive shuffle
EL SEGUNDO, Calif. — Mattel announced that it has appointed Bryan Stockton, Mattel’s president of international, to the new position of COO, effective immediately.
Stockton will report to Robert Eckert, Mattel chairman and CEO.
The company also announced that Neil Friedman, president of Mattel brands, will be leaving the company in March.
“In the last 10 years, Mattel has built the largest and strongest brand portfolio in the industry, commanding industry-leading gross margins and an unparalleled global footprint,” Eckert said. “I am confident that the appointment of Bryan as COO will help drive innovation, sustainable growth across brands and countries, and further leverage our scale and global structure as the world’s largest toy company.”
As COO, Stockton will have responsibility for day-to-day operations of the company, which include overseeing the design, development, marketing and sale of all Mattel toy brands globally, as well as licensed entertainment properties, the Mattel digital network and other operating functions, including operations and corporate responsibility.
Since 2003, Stockton has led Mattel’s international division. Under his management, the international teams marked record-breaking growth, as well as increased international’s total contribution to Mattel’s annual sales from 36% to almost 50% of total sales. Stockton joined Mattel in November 2000 as EVP business planning and development, responsible for identifying and developing strategic opportunities.
Costco’s sales rise in December
ISSAQUAH, Wash. — Net sales for December at Costco rose 11% to nearly $9.2 billion for the five weeks ended Jan. 2, compared with the year-ago period.
Same-store sales rose 4%, while international same-store sales rose 12%.
Costco currently operates 582 warehouses, including 425 in the United States and Puerto Rico.
Fred’s December sales strategy leads to ‘modest’ improvement
MEMPHIS, Tenn. — Fred’s on Thursday posted a same-store sales lift of 0.2% for the five weeks ended Jan. 1, compared with an increase of 1.3% in the same period last year. Fred’s total sales for the month increased 1% to $210.6 million.
"Our strategy for December to drive profitability with lower promotional advertising and reduced markdowns resulted in a modest sales improvement, as expected,” stated Bruce Efird, Fred’s CEO. “We did experience softness in the pharmacy department sales, which trended lower as generic drugs reached a new high penetration level, driving the average prescription price lower and more than offsetting the sales gains from comparable-store scripts.”
During December, Fred’s opened two new stores and one additional pharmacy express store.