Senior Vice President and Chief Merchandising Officer, True Value (2013 – 2015)
- Managed full P&L for over $2.2B in global purchasing and $320M in active inventory covering 85,000 SKUs. Led multiple cross functional groups to create and implement 5-year comprehensive corporate strategic plan to deliver long term growth. Responsible for marketing, merchandising, category management, print advertising, pricing, private label and global sourcing. Re-engineered talent acquisition and rebuilt entire merchandising team.
- Hired full category management team complete with pricing, POG/JDA management, category rules, heat mapping (visual inventory productivity) to drive inventory and merchandising SKU investment at the co-op and store level.
- Turned around low-performance buying team accustomed to laid back pace. Replaced lowest performing 40% of buyers, creating a zealous and high-energy team culture with broad product expertise. Radically reformed line reviews – improving savings from 2% to more than 10% annually.
- Initiated annual “pay for play” vendor supported advertising investment program. Raised $8M+ in 2014 and $13.8M in 2015, allowing suppliers to purchase ad space while funding 50% of company’s national television program spend. 2014 marked the first time in 10 years that True Value appeared on national television, resulting in 8% improvement in customer count, 4% in retail comps and 9% increase in average ticket amount.
- Launched 250 SKU EDLP program to all retailers, delivering full margin percent as well as lowering retails on the most price sensitive SKUs. In 2015 full year test markets, average basket ring rose by over 9% while significantly improving retail price perception at test stores.
- Created a “New at True Value” 4 SKU end cap program supported by over 2800 stores, becoming the most successful program launch as measured by store participation.