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Salaries In Line With Earnings

By Staff -- Home Textiles Today, 11/14/2005 12:00:00 AM

New York — —

New York — Taking a longer view and measuring executive salaries versus company performance from 1992 through 1994, every supplier in the sample for whom three-year data is available took home raises that were less than the gain in their company's profits.

Ditto the retailers in this year's survey of executive compensation. The vast majority — two-thirds, or 48 of the 69 with three-year data available — actually underperformed their companies in terms of salary growth.

Mohawk CEO Jeffrey Lorberbaum had a 25.3 percent increase in total compensation over the three-year period, while Mohawk profits grew somewhat faster, 29.6 percent. At Mohawk Home, Bill Kilbride's compensation package grew by 4.6 percent, compared with Mohawk's earnings gain of almost 30 percent.

Profits at Crown Crafts were virtually flat over the three-year period, declining just 0.6 percent, but CEO E. Randall Chestnut took a pay cut of 32.9 percent.

At Stein Mart, Michael Fisher's salary rose more than twice as fast as the retailer's profits, 176.8 percent, compared with the retailer's earnings gain of 83.5 percent. And at Federated, Terry Lundgren bagged a 23.7 percent increase in pay, as Federated's profits slid 15.8 percent. At Pier 1, the company's profits skidded 53.3 percent, yet CEO Marvin Girouard took a 5.3 percent raise.

Vendors 3-year salary vs. earnings comparison
dollar amounts in thousands

Name	Company	Tot. comp change	Sales	Income
Jeffrey S. Lorberbaum	Mohawk	25.3%	30.0%	29.6%
H. Monte Thorton	Mohawk	16.2	30.0	29.6
Arthur S. Birkins	WestPoint Stevens	4.6	-10.6	N.A
William B. Kilbride	Mohawk Home	4.6	30.0	29.6
M. Beatrice Spires	Quaker Fabric	1.3	-20.9	N.A
Mark Hellwig	Quaker Fabric	1.3	-20.9	N.A
Larry A. Liebenow	Quaker Fabric	1.3	-20.9	N.A
Thomas Muzekari	Quaker Fabric	1.3	-20.9	N.A
Rodney A. Smith	Culp	-0.6	-15.6	N.A
Robert B. Dale	WestPoint Stevens	-1.3	-10.6	N.A
Joseph C. Tucker	Wellman	-4.1	28.7	N.A
Franklin N. Saxon	Culp	-5.0	-15.6	N.A
Thomas M. Duff	Wellman	-6.1	28.7	N.A
Robert G. Culp	Culp	-7.5	-15.6	N.A
M. L. (Chip) Fontenot	WestPoint Stevens	-18.8	-10.6	N.A
Nanci Freeman	Crown Crafts	-22.4	-11.4	-0.6
E. Randall Chestnut	Crown Crafts	-32.9	-11.4	-0.6

Retailers 3-year salary vs. earnings comparison
dollar amounts in thousands

Name	Company	Tot. comp change	Sales	Income
W.B. Johnson	Kmart	314.2%	-32.9%	N.A
Alex Dillard	Dillard's	295.2	-4.8	N.A
William Dillard II	Dillard's	257.7	-4.8	N.A
L. Schultz	Kmart	227.3	-32.9	N.A
Michael D. Fisher	Stein Mart	176.8	4.1	83.5%
Drue Corbusier	Dillard's	170.8	-4.8	N.A
Mike Dillard	Dillard's	158.1	-4.8	N.A
Michael D. Ray	Stein Mart	96.1	4.1	83.5
Kathleen R. Guion	Dollar General	78.2	25.6	29.9
Alan Rosskamm	Jo-Ann Stores	61.9	7.8	2.9
James D. Sinegal	Costco	57.1	24.1	26.1
Jeffrey H. Brotman	Costco	57.1	24.1	26.1
Heywood Wilansky	Retail Ventures	48.9	11.8	N.A
Alexander W. Smith	TJX	45.3	24.5	14.8
Dave Bolen	Jo-Ann Stores	44.3	7.8	2.9
Thomas M.Belk Jr.	Belk	41.8	9.2	47.7
Kathleen Mason	Tuesday Morning	35.2	23.2	42.0
Robert J. Ulrich	Target	34.9	6.9	93.3
Mary R. Delk	Belk	30.6	9.2	47.7
Edwin J. Kozlowski	Retail Ventures	28.6	11.8	N.A
H.W. McKay Belk	Belk	24.1	9.2	47.7
John R. Belk	Belk	24.1	9.2	47.7
Terry J. Lundgren	Federated Dept. Stores	23.7	1.3	-15.8
John H. Costello	Home Depot	21.3	25.5	36.5
Carol Meyrowitz	TJX	19.4	24.5	14.8
Robert L. Nardelli	Home Depot	19.2	25.5	36.5
John C. Rossler	Retail Ventures	18.7	11.8	N.A
W. Craig Jelinek	Costco	18.0	24.1	26.1
Michael T. Wedge	BJ's	17.5	26.0	-12.6
K.C. Hicks	J.C.Penney	13.9	4.5	35.4
Michael J. Marchetti	Tuesday Morning	13.9	23.2	42.0
Donald A. Brennan	Kohl's	13.4	28.3	13.5
Herbert Zarkin	BJ's	12.2	26.0	-12.6
Arthur Stark	Bed Bath & Beyond	11.9	40.4	67.1
Matthew Fiorilli	Bed Bath & Beyond	11.9	40.4	67.1
Gregg W. Steinhafel	Target	11.6	6.9	93.3
Steven H. Temares	Bed Bath & Beyond	10.7	40.4	67.1
Leonard Feinstein	Bed Bath & Beyond	10.2	40.4	67.1
Warren Eisenberg	Bed Bath & Beyond	10.2	40.4	67.1
Robert A. Niblock	Lowe's	6.3	39.6	47.9
Mindy C. Meads	Sears, Roebuck	6.3	-13.7	N.A
Edmond J. English	TJX	6.0	24.5	14.8
Jay R. Jacobs	Pier 1 Imports	5.8	8.1	-53.3
E. Mitchell Weatherly	Pier 1 Imports	5.7	8.1	-53.3
Michael T. Duke	Wal-Mart	5.5%	24.2%	29.1%
Marvin J. Girouard	Pier 1 Imports	5.3	8.1	-53.3
John B. Menzer	Wal-Mart	4.6	24.2	29.1
Peter A. Maich	TJX	4.0	24.5	14.8
Arnold S. Barron	TJX	3.1	24.5	14.8
Bruce E. Barkus	Family Dollar	2.9	26.9	21.1
V.J. Castagna	J.C.Penney	2.9	4.5	35.4
R. David Alexander, Jr.	Family Dollar	2.3	26.9	21.1
Kevin B. Mansell	Kohl's	2.2	28.3	13.5
Arlene Meier	Kohl's	2.2	28.3	13.5
Patrick J. Connolly	Williams-Sonoma	2.0	32.9	53.7
R. Lawrence Montgomery	Kohl's	0.8	28.3	13.5
Jay L. Schottenstein	Retail Ventures	0.0	11.8	N.A
Jay Stein	Stein Mart	0.0	4.1	83.5
W. Howard Lester	Williams-Sonoma	0.0	32.9	53.7
Edward Mueller	Williams-Sonoma	0.0	32.9	53.7
Allen Questrom	J.C.Penney	-0.3	4.5	35.4
H. Lee Scott, Jr.	Wal-Mart	-0.5	24.2	29.1
Howard R. Levine	Family Dollar	-0.9	26.9	21.1
Dale C. Pond	Lowe's	-2.0	39.6	47.9
Gary G. Friedman	Restoration Hardware	-4.6	31.3	N.A
Robert L. Tillman	Lowe's	-4.7	39.6	47.9
Larry D. Stone	Lowe's	-6.2	39.6	47.9
Alan J. Lacy	Sears, Roebuck	-6.3	-13.7	-136.8
Laura Alber	Williams-Sonoma	-6.8	32.9	53.7
Stephen Gordon	Restoration Hardware	-8.3	31.3	N.A
F. David Coder	Linens 'n Things	-8.7	21.8	-12.6
John L. Dunham	May Dept. Stores	-11.7	7.0	-3.3
Edward F. Giles	BJ's	-11.8	26.0	-12.6
James A. Austin	Hancock Fabrics	-12.4	-2.6	-91.1
Larry G. Kirk	Hancock Fabrics	-13.4	-2.6	-91.1
Julian Day	Kmart	-14.4	-32.9	N.A
William P. McNamara	May Dept. Stores	-15.0	7.0	-3.3
Norman Axelrod	Linens 'n Things	-15.3	21.8	-12.6
Jay H. Levitt	May Dept. Stores	-15.4	7.0	-3.3
Audrey Schlaepfer	Linens 'n Things	-17.8	21.8	-12.6
Stonie R. O'Briant	Dollar General	-23.1	25.6	29.9
Brian N. Priddy	The Bombay Company	-32.4	16.6	N.A
Eugene S. Kahn	May Dept. Stores	-35.0	7.0	-3.3
David A. Perdue	Dollar General	-37.9	25.6	29.9
Stephen Farley	The Bombay Company	-40.8	16.6	N.A
John M. Belk	Belk	-67.0	9.2	47.7
James D. Carreker	The Bombay Company	-94.8	16.6	N.A

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