Mars Chocolate’s global president Grant F. Reid has been named by the company’s board of directors as president, effective Jan. 2, 2015. Reid will take over for current Mars president Paul S. Michaels, who plans to retire at the end of the year.
Finish Line chairman and CEO Glenn Lyon said the company’s successful execution of its consumer-centric omnichannel strategy drove solid gains in its core business and that growth initiatives contributed meaningfully to its record full-year revenue and profits.
New Lululemon CEO Laurent Potdevin said 2014 is a year for investing, strengthening the company’s foundation, reigniting its product engine and accelerating sustainable and controlled global expansion.
GameStop CEO Paul Raines remained optimistic about the company’s fourth quarter results, saying that the launch of new consoles in 2013 marked the return of innovation to the video game category and that the company’s market share increased to an all-time high.
Favorable tax credits and a 53rd week in fiscal 2012 affected Fred’s net income results for the fourth quarter. Severe weather also contributed some to the company’s net sales decline, as did higher-than-normal utility bills and rising generic drug costs.