Today In Retail: BJ’s Wholesale Appoints New President And CEO; Advance Auto Parts Forecasts Comp Growth
In today’s top retail news, BJ’s Wholesale Club has named Bob Eddy as its new president and CEO, while Advance Auto Parts is forecasting comparable-store sales growth amidst demand from DIY and pro shoppers. Plus, lululemon has become part of the secondhand clothing trend with its “Like New” reCommerce division.
Bob Eddy has been named the new president and CEO of BJ’s Wholesale Club. Eddy joined the firm in 2007 and was appointed to the role of interim chief executive officer this month following the passing of Lee Delaney. The company also announced that Laura Felice has been appointed to the position of executive vice president, chief financial officer.
Advance Auto Parts, the aftermarket auto parts retailer, said it forecasts comparable-store sales growth to range from 22 percent to 24 percent for Q1 2021. “We continue to see strong demand from both DIY omnichannel and professional customers, with robust sales growth to start 2021,” President and CEO Tom Greco said in a press release.
lululemon has revealed its inaugural venture to resell gently used apparel. The merchant will become part of a growing movement inside of the clothing and footwear space to cut back on waste and lengthen product life in announcing its “Like New” reCommerce program. Moreover, lululemon will roll out a limited-edition “Earth Dye” collection of apparel.
TryNow is challenging industry norms and reshaping consumer behavior by letting people try on their purchases in their residences to decide if they want to purchase them prior to being charged. “Our contrarian idea is that high return rates can actually be healthy for your business,” TryNow Founder and CEO Ben Davis said in a previous interview with PYMNTS.
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