Food and gift basket sales increased 4.7%, but total e-commerce, which includes online and telephone orders, increased less than 1%.
U.S. Auto Parts CEO Shane Evangelist will draw lessons from the 2010 acquisition of Whitney.
When contemplating acquisitions, retailers should identify deals that will generate the most value, says Shane Evangelist, CEO, U.S. Auto Parts Network. He will speak at the Internet Retailer Conference & Exhibition 2011 in San Diego on June 14 in the Financing Growth Workshop from 8:30 a.m. to 9:30 a.m. in a session titled “The anatomy of an acquisition."
U.S. Auto Parts developed a plan to build its business toward the August 2010 acquisition of Whitney Automotive; the deal already has helped to improve the retailer’s operating efficiency. U.S. Auto Parts’ business model emphasizes fast delivery, competitive prices and millions of SKUs, Evangelist says. “Our average shipping days have decreased from five to 2.3 and, with the Whitney acquisition we now have three distribution centers instead of one,” he says.
During the session, Evangelist will describe how U.S. Auto Parts’ business model is set up for both organic growth and acquisitions. U.S. Auto Parts Network is No. 59 in the Internet Retailer Top 500 Guide.
Internet Retailer’s editors asked Evangelist to speak because of his experience in e-commerce acquisitions and product launches. In October 2007, he became CEO of U.S. Auto Parts Network. Before joining U.S. Auto Parts, he was senior vice president and general manager of Blockbuster Online. He joined Blockbuster in 2001 and was vice president of strategic planning, responsible for strategy development, mergers and acquisitions, marketing and capital deployment. He began his career at IBM, where he ran the media and entertainment accounts.