February Retail Sales Rally Despite Cold Weather

February sales were strong despite rising gas prices and dropping temperatures, according to economists at Master Card Advisors’ SpendingPulse and the International Council of Shopping Centers.

The ICSC reported American chain-store sales climbed 4.2 percent in February compared with the same period last year. The result beat the ICSC’s forecast of a 2.5 percent to 3 percent gain. “The breadth and the strength of sales gains in February was encouraging as more retailers and retail segments participated in the improvement,” said Michael P. Niemira, the ICSC’s chief economist.

Michael McNamara, vice president of SpendingPulse, said February followed a trend of rising sales that began in fall 2010. “February held on to the momentum from the last few months. Ongoing strong performance by the financial markets and growing consumer confidence may have contributed to ongoing retail growth. … This is even in the face of the disruptive weather that put a damper on spending in several sectors,” he said.

According to SpendingPulse, February’s top performer was e-commerce. The category posted its fourth consecutive month of double-digit growth with a 13.2 percent increase in February compared with the same period last year. Apparel sales also did well, growing 6 percent.

For teen retailers, results were better than expected. Hot Topic Inc.’s February same-store sales declined only 1.4 percent, defying analysts’ predictions of a 5 percent drop. The City of Industry, Calif.–based retailer’s net sales declined 1.5 percent to $53.4 million in February.

Same-store sales for Zumiez Inc. shot up 12.8 percent in February. The Everett, Wash.–based retailer’s net sales jumped 18.3 percent to $32.7 million for the month.

Department-store giant Macy’s Inc. showed same-store-sales gains of 5.8 percent in February. Off-pricer Ross Stores Inc. reported a same-store-sales increase of 3 percent.

February’s retail sales almost stalled because of cold weather but then warmed up, according to Liz Pierce, an analyst for Newport Beach, Calif.–based financial-services firm Roth Capital Partners. The cold depressed both demand and sales for new spring merchandise. However, temperatures increased just as retailers promoted sales for the Valentine’s Day and the President’s Day weekends. However, Pierce believes the cold and fuel prices took a bite out of some of the month’s potential.

SpendingPulse’s McNamara also recommended retailers keep an eye on gas prices. “If gasoline prices continue to rise, this would mean less disposable income for other retail sectors,” he said. But increased prices at the fuel pump would ultimately benefit online retail.

Source : Apparel News Group

Canadian retailers go global

Amid growing competition from foreign retailers in their home market, more Canadian stores are testing the waters beyond their own borders.

Loblaw Cos. Ltd. confirmed Wednesday that its Joe Fresh apparel brand would open its first four U.S. stores later this year, including a site on New York City’s high profile Fifth Ave.

Iconic Canadian coffee and doughnut chain Tim Hortons Inc., meanwhile, provided further details on its plans to open its first stores outside North America — starting in the Middle East.

At the same time, Quebec-based convenience store operator Alimentation Couche Tarde Inc. mused about the opportunity to buy gas stations in Europe, a formula that has worked well for it in the U.S. No specific plans were announced, an industry analyst said.

The moves come as more retailers in mature markets, including Canada, the U.S. and Europe, look beyond their borders for future growth, industry experts said.

Canada is experiencing a wave of foreign retailers, including U.S. based Target Corp., which threatens to shake up the status quo.

“I think it’s that Canada has a finite size and if you have a company that’s growing and doing well, eventually you have to decide whether you’re going to leap over the border,” said Perry Caicco, an analyst with CIBC World Markets and host of Wednesday’s Retail and Consumer Conference at which Loblaw and Couche Tarde made their remarks.

“The broader trend toward globalization is growing in leaps and bounds. Many markets have reached their saturation point so they’re looking at greener fields,” said Wendy Evans, a principal in the Toronto-based retail consulting firm Evans & Company Consultants Inc.

And while North American and European retailers initially test familiar waters in neighbouring countries, their ultimate goal is the young, emerging, high growth markets in Asia and South America, Evans said.

Loblaw said it plans to proceed cautiously in the U.S., a market where some Canadian retailers have underestimated the fierce level of competition.

“It will be very much a pilot project,” Loblaw president and deputy chairman Allan Leighton said.

Joe Fresh founder Joseph Mimran said later the brand is already well-known in the U.S.

“They keep asking for us to open stores south of the border,” said Mimran of Joseph Mimran & Associates, Creative Director Apparel, Home and Entertainment for Loblaw Cos Ltd.

The New York store will be located at 510 Fifth Ave. in an historic glass box on the corner of 43rd Street, near the New York Public Library and Bryant Park, Mimran said in a statement.

Tim Hortons said it’s also taking a prudent approach, partnering in the Middle East with Dubai-based Apparel Group, an experienced local operator with deep financial pockets and extensive real estate expertise.

The target region, which includes the United Arab Emirates, Qatar, Bahrain, Kuwait and Oman, is seen as a “gateway” to other emerging markets, said Tim Hortons president and chief executive officer Don Schroeder.

“Everyone talks about going to China and India. The playing field is littered with companies that jumped in,” Schroeder told the Star in an interview. The company has plans for 120 stores in the Middle East, starting with 5 this year.

Other Canadian retailers, include shoe and handbag specialist Aldo and lingerie chain La Senza, have successfully used the affluent Middle East as a springboard to other regions, Evans noted.

Both Tim Hortons and Joe Fresh plan to open more stores in existing markets, they said.

Tim Hortons reported Wednesday that fourth quarter net income grew to $377.1 million, mainly on the sale of its 50 per cent stake in Maidstone Bakeries.

Revenue declined 3.5 per cent to $643.5 million as the quarter contained one less week.

Sales at stores open more than a year rose 6.3 per cent in the U.S. and 3.9 per cent in Canada, where most of its 3,500 outlets are located, the company said.

The company announced it would boost its quarterly divided by 31 per cent to 17 cents per common share and a $445 million buyback of its shares.

Source : Toronto Star

Nokia announces launch of Flagship London Store at 240 Regent Street

Nokia today announced that its pioneering UK Flagship Store on London's Regent Street will open its doors to the public on 8th February 2008.

Designed to set the benchmark in technology retailing practice, through the creation of an upscale, high-energy environment, Nokia Regent Street promises the ultimate shopping experience for Nokia's wide portfolio of mobile devices.

Simon Ainslie, Managing Director Nokia UK commented, "In championing our brand, Nokia Regent Street will be dynamic, original and beautifully designed. The store will provide world-class customer service and deliver a unique experience enhancing our customer's lifestyles."

"The Nokia Flagship Store pioneers new technologies and techniques, setting a new standard in the retail world as a whole. At Nokia Regent Street, everyone will be able to test the latest Nokia mobile phones and multimedia computers, and learn about Nokia's range of services and technologies in a comfortable, cutting-edge environment."

To promote the launch of Nokia Regent Street, Nokia has created Meet London, a unique exhibition that brings together the creative talent of four high profile Londoners representing film, music, sport and art to produce a series of one-off, intimate portraits that capture London in 2008. The portraits from Jaime Winstone, Dizzee Rascal, Darren Bent and Rankin will be displayed in store from 7 February 2008. They will also be available to view on Nokia's Meet London online gallery - www.meet-your-city.com.

Nokia Regent Street is the eighth store to be launched as part of the Nokia Flagship Store strategy, which aims at covering major locations globally.

The entrance to the two story experience is marked with the vivid "Nokia blue". Flooring and ceiling uses Finnish inspired Silvered Birch while the interior is distinguished by the use of perimeter LCD screens and translucent walls, back-lit by mood-evoking LEDs.

Inside the store, three intuitive zones supported by specially trained staff will simplify the purchasing process and encourage interaction with consumers. The 'Product Zone', featuring Nokia's live product portfolio where the newest devices form the focus for in-store marketing and the 'Solutions Zone' is designed to showcase the complete mobile experience encompassing music, navigation, video, imaging, Internet, gaming and mobile office capabilities.

Once consumers have seen and interacted with the latest Nokia products available, the 'Support Zone' provides a quieter space, allowing customers to set up their new device, look at service provider options and try out any new mobile enhancements.

The Regent Street location will also house Nokia's prestigious luxury line, Vertu, in a uniquely styled lounge. To compliment the handcrafted luxury nature of the range, the Vertu lounge interior uses low-iron, back painted glass, Carrera marble and high polished stainless steel.

Each Nokia device will be connected to the Internet and paired with supporting products such as stereo speakers, headsets, LCD screens, photo printers and laptops to demonstrate the complete mobile lifestyle which Nokia's range of devices can provide.

The Flagship Stores project forms the top end of Nokia's retail strategy that includes more than 350,000 retail outlets globally. All of these outlets remain essential to Nokia's on going success and continue to be the key sales channels.

NOTES TO EDITORS

The Nokia Flagship Stores are owned, managed and operated by Nokia.

All staff at the new Nokia Flagship store are graduates of the award winning Nokia Academy program, making them experts in providing accurate and personalised advice to help solve all consumer queries and concerns.

Nokia Flagship Store locations:

- Moscow - Tverskaya Street - launched on December 9th 2005
- Chicago - North Michigan Avenue - launched on June 24th 2006
- Hong Kong - Causeway Bay - launched on July 17th 2006
- Helsinki - Aleksanterinkatu - launched on August 19th 2006
- New York - Fifth Avenue - launched on September 9th 2006
- Mexico City - Polanco District - launched on December 14th 2006
- Shanghai - Nanjing Road East - launched on 29th October 2007
- London - Regent Street - to open on 8th February 2008
- London - Heathrow Terminal 5 - to open in March 2008

About Nokia

Nokia is the world leader in mobility, driving the transformation and growth of the converging Internet and communications industries. Nokia makes a wide range of mobile devices and provides people with experiences in music, navigation, video, television, imaging, games and business mobility through these devices. Nokia also provides equipment, solutions and services for communications networks.

Source : Nokia Communications

Slight acceleration in Jan shop prices

British Retail Consortium presents the Scotland shop price January 2008. Year-on-Year: Shop prices in Scotland were 1.0% higher compared with a year ago, showing a slight acceleration from December's 0.8% year-on-year rise but still below the 1.1% in October and November.

Month-on-Month: In January shop prices were 0.2% lower compared with the previous month, the first time prices have fallen month-on-month since July 2007. Discounting taking place after the Christmas period has led to the reduction in shop prices.

Fiona Moriarty, Director, SRC comments:

“Scotland’s annual shop price inflation in January remained lower than the rest of the UK, as it has for most of last year. Scottish consumers continued to be protected by intense competition between retailers, ensuring much of the impact of cost increases was absorbed by retailers themselves and not passed on.”

Mike Watkins, Senior Manager, Retailer Services, Nielsen comments:

“Any inflationary pressure from seasonal, dairy or cereal-based foods is being outweighed by falls in non-food prices. Scottish retailers will need to continue to keep prices low to attract shoppers if the economic cycle turns against retailers in the next few months“.

Source : fibre2fashion.com

Arvind Mills to implement Oracle ERP for its retail outlets

Textile major Arvind Mills Limited has decided to implement Oracle' s enterprise resource planning (ERP) software to manage its growing chain of retail outlets. The project cost is estimated at around Rs10 crore.

Arvind Mills has two retail store formats, Mega Mart Outlet Centres (large discount stores), and the smaller Mega Mart stores. For the short term, Arvind Mills is looking to open eight large stores in cities such as Pune, Hyderabad, Bangalore and Chennai, while it plans to expand its smaller stores to tier II cities.

With each store requiring an investment of around Rs4 crore, the total outlay of Rs400 crore would be funded from internal accruals. As per Sanjay Lalbhai, managing director of Arvind Mills, last year retail stores contributed Rs100 crore to the top line of the company, and a 6 per cent profit. He said the Mega Mart Outlet Centre has been positioned as a discount store, with the tag line 'Sale on. 365 days.'

According to J Suresh, CEO, Arvind Brands & Retail, which is the retail arm of Arvind Mills, the company plans to have 30 large discount stores and 200 Mega Marts across 100 cities, and plans to achieve revenues of Rs2,000 crore by 2012. Presently, the company has 75 outlets in 25 cities.

Unlike the smaller Mega Mart stores that sell in-house brands, the large stores stock other brands as well. K E Venkatachalapathy, business head, Mega Mart says that in order to provide value to other brand owners, the company has tied-up with a minimum number of brands while offering sizeable shelf space of around 200 to 250 sq ft.

Source : http://www.domain-b.com/companies/companies_a/Arvind_Mills/20080201_arvind_mills.html

Putian set to bring largest Shoes & Clothing Center

Recently, over hundred enterprises from Wenzhou and Shaoxing city formally signed an investment accord to pitch-in for Putian Shoes and Clothing Center. Leaders from the local Government attended the signing ceremony.

While analyzing the reasons for such investment in this particular center, Experts opined that the local shoes-making industry has a huge demand in the market. Local preferential policies and strategic geographical position of the centre had the potential to lure flocks of traders.

Further, due to proper market planning many leather manufacturers and dealers from many areas like Guangzhou, and Henan Province have been doing business with the local footwear manufacturing enterprises for quite some time.

The Putian Shoes and Clothing Center, located in Fujian Province, covers over 320 mu, is built with an investment of around 300 million yuan. With over 1600 shops the Centre is set to become the largest shoes and clothing wholesale market in the region. Sources report that the first project is already on the verge of completion.

Source : Fibre2fashion.com

Pantaloon Retail Announces Launch of Big Bazaar in Barrdhaman City

Pantaloon Retail (India) Limited, a part of the Future Group, today announced the launch of its flagship hypermarket retail store – Big Bazaar – in Barrdhaman city. With this launch the company has further enhanced its reach to the masses in Eastern India having 14 Big Bazaar stores, while for the country; the count goes upto 80 stores.


Big Bazaar is widely known for its unbelievable pricing and unmatched offers throughout the year. Spread over an area of 62,000 sq.ft, Big Bazaar located at Barddhaman Arcade, 66 B B Ghosh Road, will cater to every single household needs for the citizens of the city and its neighbourhood towns.

Says Mr. Sandeep Marwaha, Head Operation, East Zone, Pantaloon Retail (I) Ltd., "Big Bazaar will bring convenience plus rich shopping experience to the people of Barrdhaman. We are a consumer-driven company and we ensure that all our Big Bazaar stores fulfills the needs of the entire household under one roof.

“Big Bazaar maintains stringent procurement norms and quality control measures to ensure quality products sold at every Big Bazaar stores. We are confident of our offerings both in quality and competitive pricing, which has earned us the trust of millions of family across the country, added Mr. Marwaha.”

Trusted by millions of family across the country, Big Bazaar will bring value to customers shopping, with its unmatched offers, discounts and unbelievable round the year promotions on all categories be it personal care products, garments, footwear, toys, home décor, home utilities, kitchen utilities, packed food, pulses, fruits or vegetables, groceries and many more.

About Pantaloon Retail (India) Limited

Pantaloon Retail (India) Limited is a leading retailer with a turnover of over Rs. 3550 crore for the financial year 2006-07. Headquartered in Mumbai, the company operates through primarily the ‘Lifestyle’ and ‘Value’ formats through multiple delivery mechanisms and lines of business — some of them being, fashion, food, general merchandise, home, leisure and entertainment, financial services, communications and wellness. The company has stores in 51 cities across the country, constituting over 6 million square feet of retail space. The company caters to the ‘Lifestyle’ segment through its 35 Pantaloons Stores and 5 Central Malls, as well as its other concepts. In ‘Value’ retailing it is present through 78 Big Bazaar hypermarkets, 113 Food Bazaars and other delivery formats.

Source : Pantaloon Retail (India) Limited

Pantaloon Retail Announces Launch of Big Bazaar in Ahmednagar

Pantaloon Retail (India) Limited, part of the Future Group, today announced the launch of its flagship hypermarket format - Big Bazaar – in Ahmednagar. With today’s launch, the company has further enhanced its reach to the masses in Maharashtra, with Ahmednagar Big Bazaar being the 18th store in the State, while overall tally goes upto 76 Big Bazaar stores in the country.

As part of the launch offer, customers shopping for a minimum of Rs 499/- on a single bill will get sugar on a discount prize of Rs 4.99/- per Kg (maximum 5 kg). The offer will be valid till December 31st 2007.

Big Bazaar, which displays around 1.6 lakh products under various categories, is widely known for its unbelievable pricing and unmatched offers throughout the year and is a source for mega cost savings for every home. Spread over an area of around 31,000 sq.ft, Big Bazaar located at Sarda Tower, Sarda Mill Compound, Savedi Road is Ahmednagar’s first biggest hypermarket store which will cater to every single household needs for the citizens, under one roof.

Trusted by millions of family across the country, Big Bazaar will bring value to customers shopping, with its unmatched offers, discounts and unbelievable round the year promotions on all categories be it personal care products, garments, footwear, toys, home décor, home utilities, kitchen utilities, packed food, pulses, fruits or vegetables, groceries and many more.

The Ahmednagar Big Bazaar will also house Navaras – a national brand known for fine 22 carat pure gold and diamond jewellery. Navaras offers a wide range of designs in gold and diamond jewellery other than providing nine unique benefits like BIS Hallmarked jewellery, free cleaning and polishing, insurance cover against theft & burglary, transparent making charges, zero percent weight loss, buyback, karatmeter check etc.

Says Mr. Sharad Venkata, Business Manager, West Zone, Big Bazaar, "Big Bazaar will bring convenience plus rich shopping experience to the people of Ahmednagar. We are a consumer-driven company and this is evident in every aspect of Big Bazaar. We ensure that all our Big Bazaar stores will fulfill the needs of the entire household under one roof.

“Big Bazaar maintains stringent procurement norms and quality control measures to ensure quality products sold at every Big Bazaar stores. We are confident of our offerings both in quality and competitive pricing, which has earned us the trust of millions of family across the country, added Mr. Vankata.”

The Ahmednagar Big Bazaar will also have following section devoted to specific product categories:

Food Bazaar: All food items, pulses, grains, fruits, vegetables, utensils, ready-to-eat food.
M-Bazaar: A mobile shop offering latest and affordable handsets.
Star & Sitara : Beauty products for men and woman.
Depot : Book shop offering novels, cassettes & CDs, stationeries, books.
Navaras : A fine 22 carat pure gold & diamond jewellery brand shop.
Furniture Bazaar: Offers an entire range of Home Furniture at affordable pricing.
Electronic Bazaar : Offers the best deals in branded electronic goods & appliances.
Apparel : For Ladies, Mens, Kids for all season. Western, ethnic, casuals & formals.
Appliances: All Kitchen Appliances like Mixer Grander, Toster, Microwave, Juicer etc
GM-Home: Entire range of kitchen need, Utensils, Plasticswear, Home-linen.
GM-Fashion: Accessories, Luggage, Gift items and many more…

About Pantaloon Retail (India) Limited

Pantaloon Retail (India) Limited is a leading retailer with a turnover of over Rs. 3550 crore for the financial year 2006-07. Headquartered in Mumbai, the company operates through primarily the ‘Lifestyle’ and ‘Value’ formats through multiple delivery mechanisms and lines of business - some of them being, fashion, food, general merchandise, home, leisure and entertainment, financial services, communications and wellness. The company has stores in 45 cities across the country, constituting over 6 million square feet of retail space. The company caters to the ‘Lifestyle’ segment through its 35 Pantaloons Stores and 5 Central Malls, as well as its other concepts. In ‘Value’ retailing it is present through 76 Big Bazaar hypermarkets, 110 Food Bazaars and other delivery formats.

Source : Pantaloon Retail (India) Limited

Pantaloon Retail posts 62.9 per cent increase in income for the quarter ended December 31, ‘07

Pantaloon Retail (India) Limited, part of the Future Group, declared its unaudited financial results for the quarter ended December 31, 2007 wherein the Income from operations (Rs.1226.75 crore) for the quarter increased by 62.9 per cent; and PBDIT (Rs.110.93 crore) increased by 93.06 per cent.

The Meeting of the Board of Directors was held as scheduled i.e. 22nd January 2007 and the Board inter‑alia took the following decisions:

- Board took on record the Unaudited Financial Results for the second quarter ended on 31st December 2007 along with the Limited Review Report of the Statutory Auditors, which are attached herewith.

- Board has approved setting up wholly owned subsidiary companies for Big Bazaar and Food Bazaar, Speciality Retail Business Activities and Property & Mall Management Division and transfer the respective businesses of the Company on a going concern basis to the respective subsidiaries, subject to receipt of all requisite statutory and other necessary approvals.

- Board noted the appointment of Mr. C. P. Toshniwal as Chief Financial Officer w.e.f 18/01/2008 in place of Mr. K. K. Rathi who has resigned.

About Pantaloon Retail (I) Ltd.

Pantaloon Retail (India) Limited, is India’s leading retailer that operates multiple retail formats in both the value and lifestyle segment of the Indian consumer marker. Headquartered in Mumbai (Bombay), the company operates over 7 million square feet of retail space, has over 1000 outlets (including shop-in-shops) across 53 cities in India and employs over 25,000 people.

The company’s leading formats include Pantaloons, a chain of fashion outlets, Big Bazaar, a uniquely Indian hypermarket chain, Food Bazaar, a supermarket chain, blends the look, touch and feel of Indian bazaars with aspects of modern retail like choice, convenience and quality and Central, a chain of seamless destination malls. Some of its other formats include, Home Town, Depot, Shoe Factory, Brand Factory, Blue Sky, aLL, Top 10 and Star and Sitara.

Source : http://www.pantaloon.com

Cabela's posts Q4 2007 results, expects to open two stores

Cabela's Incorporated, the World's Foremost Outfitter of hunting, fishing, and outdoor gear, announced preliminary financial results for its fourth fiscal quarter and fiscal year ended December 29, 2007, as well as earnings guidance for fiscal 2008.

For the fourth quarter, Cabela's expects to report a 13.9% increase in total revenue, including a 3.3% increase in direct business revenue. Total retail store revenue is expected to increase 31.8%, including a 5.9% decline in same store sales. Diluted earnings per share for the fourth quarter are expected to be in the range of $0.83 to $0.85.

For full-year 2007, total revenue is expected to increase 13.9% over 2006, with a 3.9% increase in direct business revenue. Total retail store revenue is expected to increase 27.2%, with a 1.2% decline in same store sales. Diluted earnings per share for fiscal 2007 are expected to be in the range of $1.29 to $1.31.

The Company's fourth quarter results were primarily impacted by a challenging retail environment which negatively impacted the Company's same store sales and to a lesser extent the Company's direct business. Additionally, productivity of some new stores did not meet expectations.

During 2008, the Company intends to significantly slow retail expansion and focus on improving the profitability of its existing operations. The primary focus of the Company during the year will be to improve:

• advertising strategy by using more targeted campaigns throughout its multi-channel model;

• retail productivity and same store sales through enhanced product assortment, streamlined flow of merchandise to its stores and reduced operating expenses;

• merchandise planning by reallocating retail store space by department by season and reducing unproductive inventory; and

• inventory management through better leveraging its existing technologies.

The Company expects to open two stores in 2008. One location will open in the second quarter, and another in the third quarter. Current plans call for two additional locations to be opened in 2009.

As a result of the decision to slow retail expansion and concentrate on improving the Company's existing operations, the Company now anticipates earnings per share for 2008 will grow at a mid-single digit rate. For 2008, capital expenditures, including purchases of marketable securities, are expected to be $110 million, as compared to approximately $376 million in 2007.

"During the fourth quarter, our top line was impacted by an overall challenging consumer environment," said Dennis Highby, Cabela's President and Chief Executive Officer. "Part of our strategy involves an ongoing review of our previously planned store openings to reconfirm our expectations.

Based upon these ongoing reviews and current economic conditions, we will pare our store openings in 2008 to just two of the previously planned retail stores. We expect to fund the 2008 expansion from our recently completed $57 million senior note offering and cash flows from operations. We will continue to develop our next generation store format, which is intended to improve return on invested capital and better serve our retail customers."

"While our fourth quarter results did not meet our expectations, we remain encouraged about the opportunities that lie ahead and our ability to perform in this challenging retail climate. We have developed a number of strategic initiatives for 2008 aimed at improving profitability, and we remain focused on successful execution of our plan," Highby said.

The Company is scheduled to release final financial results for its fourth fiscal quarter and fiscal year ended December 29, 2007, after the close of the market on February 21, 2008. A conference call to discuss the results will be held at 4:30 p.m. ET that same afternoon. The call will be hosted by Dennis Highby, President and Chief Executive Officer; and Ralph Castner, Vice President and Chief Financial Officer.

Source : http://www.fibre2fashion.com

Retailers welcome Economic Stimulus Agreement

The National Retail Federation welcomed an agreement on economic stimulus legislation reached between the Bush Administration and House leaders.

“The proposal put forth is simple, targeted economic stimulus that will quickly put money into consumers’ pockets where it can boost economic growth by creating demand throughout all sectors of the economy,” NRF Senior Vice President for Government Relations Steve Pfister said.

“Given the financial stress that consumers will be under in the coming year, stimulus legislation is essential to the health of our nation’s economy and to the jobs that rely upon the strength of that economy.”

“We are heartened that congressional leaders in the House, working with the Administration, have set aside partisan differences and are working together to help the U.S. economy and American families,” Pfister said.

“We urge you to reach out to your counterparts in the Senate and quickly work through the details of this proposal so that economic stimulus legislation can be enacted and implemented as soon as possible.”

Pfister’s comments came in a letter to House Speaker Nancy Pelosi, D-Calif, and Minority Leader John Boehner, R-Ohio. Another letter encouraging the Senate to work quickly with the House was sent to Senate Majority Leader Harry Reid, D-Nev, and Minority Leader Mitch McConnell, R-Ky.

Pelosi, Boehner and Treasury Secretary Henry Paulson held a news conference this afternoon to announce that they had reached agreement on a stimulus package.

Under the agreement, individuals who pay taxes would receive checks of up to $600, working couples would receive up to $1,200 and couples with children would receive an additional $300 per child. Workers who make at least $3,000 but don’t pay income taxes would receive $300.

NRF is leading the retail industry’s efforts to convince the Bush Administration and Congress to enact economic stimulus legislation.

The NRF Board of Directors on January 15 unanimously passed a resolution calling for stimulus legislation that would put money into the pockets of consumers, and NRF on January 17 wrote to President Bush and congressional leaders to urge passage of stimulus legislation.

NRF’s action followed the Commerce Department’s January 15 announcement that retail sales for December (excluding automobiles, gas stations and restaurants) rose 1.7 percent unadjusted over 2006 and decreased 0.4 percent seasonally adjusted from November.

Combined November-December holiday sales increased 3 percent over 2006, which was the lowest increase since 2002, when holiday sales rose 1.3 percent.

NRF’s 2008 economic forecast, calling for a 3.5 percent increase in retail sales over 2007, the smallest since sales grew 3 percent in 2002, is based on the assumption that both the Federal Reserve and Congress would take action on economic stimulus.

Source : http://www.fibre2fashion.com

Textiles & clothing sector retail sales volume up

The volume of retail sales (i.e. excluding price effects) increased by 3.9% in November 2007 compared to November 2006. There was a monthly decrease of 0.6%. If Motor Trades are excluded the annual increase was 5.5% and the monthly change was -0.1%.

The value of retail sales increased by 6.2% in November 2007 compared to November 2006 and decreased by 0.2% in the month. However, if Motor Trades are excluded, the annual increase was 7.1% and the monthly change was +0.5%. October 2007 is the latest month for which final detailed figures are available.

The three-month August 2007 – October 2007 volume figures show that, compared with the three months ending July 2007:

• The largest increase in the volume of sales was in the Textiles and Clothing (+4.4%) sector.
• The largest decrease in the volume of sales was in the Electrical Goods (-5.9%) sector.

All figures in this release are trading day and seasonally adjusted. The seasonal factors are based on unadjusted indices up to June 2007.

Source : Fibre2fashion.com

Largest Retail Chain Store in United States Achieves Success With Demand Management Solutions from SAP

Demonstrating ongoing leadership in providing innovative solutions to retailers worldwide, SAP AG (NYSE: SAP) today announced that 7- Eleven, Inc. has extended its agreement for demand management solutions from SAP. The announcement was made at the National Retail Federation (NRF) 97th Annual Convention and Expo, being held in New York, NY, January 13-16.

As the largest chain store in the United States with close to 5,500 franchised and company-operated stores, 7-Eleven faces similar pricing and product availability challenges as other retailers. Demand management solutions from SAP better position 7-Eleven to make competitive decisions on pricing for its store products.

“Responding appropriately in today’s fast-paced environment is critical,” said Scott McCombs, senior director for merchandise intelligence, 7-Eleven. “We selected the business solution from SAP because it provides us with a way to make better decisions faster.”

Demand Management Solutions from SAP: Achieving a Retailer’s Needs

Demand management solutions from SAP enable retailers to achieve their financial objectives while delivering a credible, consistent and competitive shopping experience to their customers. With demand management solutions from SAP, customers can automate and use a unified demand approach that will create a best-run business.

“Retailers around the world are increasingly looking for demand management platforms to help them predict shopper behavior and improve financial performance across all the major retail workflows – from inventory to assortment planning to full lifecycle pricing,” said Scott Langdoc, VP of Research and Business Leader for IDC’s Global Retail Insights. “We expect nearly 80 percent of retailer application deals in 2008 will include demand management functionality.”

Based on the SAP NetWeaver® technology platform, the demand management solutions from SAP are designed to deliver end-to-end decision support for pricing, promotion and markdown business decisions. Retailers can strategically manage the full pricing lifecycle on an integrated and extensible technology platform.

“Retailers are faced with a complex environment where consumers are smarter and more demanding,” said Verlin Youd, senior vice president, Global Trading Industries, SAP AG. “Our retail experience has allowed SAP to provide retailers with solutions that address their current and future needs. Retailers that have embraced demand management solutions from SAP have seen a return on their investment within 12 months.”

SAP solutions for retailers can be seen at the NRF show, at booth number 1601.

About SAP® for Retail

SAP is the leading provider of application solutions for the retail industry. SAP helps retailers of all sizes to understand, anticipate and inspire their customers, employees and shareholders by delivering results. The SAP® for Retail solution portfolio provides specific solutions for retail companies in the food, fashion and hardlines businesses. The solution portfolio consists of building blocks that cover the areas of merchandising (including demand management - price, promotion and markdown optimization); store operations (including a portfolio of POS solutions); supply chain, finance and human resources. SAP allows companies to implement solutions in a step-by-step approach, and provides an easy, cost-effective means to connect information across the business. (Additional information at http://www.sap.com/retail/.)

About SAP

SAP is the world’s leading provider of business software*. Today, more than 43,400 customers in more than 120 countries run SAP® applications—from distinct solutions addressing the needs of small businesses and midsize companies to suite offerings for global organizations. Powered by the SAP NetWeaver® technology platform to drive innovation and enable business change, SAP software helps enterprises of all sizes around the world improve customer relationships, enhance partner collaboration and create efficiencies across their supply chains and business operations. SAP solution portfolios support the unique business processes of more than 25 industries, including high tech, retail, financial services, healthcare and the public sector. With subsidiaries in more than 50 countries, the company is listed on several exchanges, including the Frankfurt stock exchange and NYSE under the symbol “SAP.”

Source : SAP

Carrefour Group announces an acquisition in Indonesia, reinforcing its leading position in the country

Carrefour Group has signed a Share Purchase Agreement on 21 January 2008 with PT Sigmantara Alfindo and Prime Horizon Pte. Ltd. to acquire a 75% majority stake in PT Alfa Retailindo Tbk, (“Alfa Retailindo”) for a total equity consideration of IDR 674bn (€49.3m).

Alfa Retailindo, a listed company on the Jakarta Stock Exchange, is a major perator in Indonesia, operating 29 stores across the country (with sales area comprised between 1000m² and 4000m²), of which 13 are located in Jakarta. Alfa Retailindo reported net sales in 2006 of IDR 3624bn (€265m).

With this acquisition, Carrefour Indonesia consolidates its position as a leading ood retailer in the country.

This acquisition forms part of Carrefour’s strategy to reinforce its presence in key growth markets through a locally adapted multi format approach.

Carrefour’s operations in Indonesia today consist of 37 hypermarkets (vs. 29 hypermarkets in 2006). Carrefour in Indonesia recorded €627m sales in 2006, and sales were up 14.4% over the first nine months of 2007.

Source : Carrefour Group

Amazon.com Launches Indie & Art House Store with Actor, Director and Producer Jon Favreau as First ''Independent Voices'' Curator

With the film festival season well under way, Amazon.com, Inc. (NASDAQ:AMZN) today launched its new Indie & Art House store at www.amazon.com/indies. This specialty store is a place where filmmakers and indie aficionados can preview, review and discuss independent works as well as gain insight into what's hot now in the indie and art house movie world. Additionally, actor, director, producer and CreateSpace member Jon Favreau has signed on to be the store's first Independent Voices curator. Favreau was selected based on his work in the independent film community, and will be offering reviews and recommendations on trailblazing and undiscovered independent films.

"Every year hundreds of great independent films are released, but fans still struggle to find the titles they long to see," said Peter Faricy, vice president of movies and music for Amazon.com. "The Amazon Indie & Art House store was created to be the ultimate destination for independent film lovers, where customers can not only find the titles they want, but also interact with a lively community of fellow indie movie fans. We're excited to bring to our customers the new Independent Voices feature and proud to have Jon Favreau be the first contributor."

"I'm excited to be a part of Amazon Independent Voices and to have the opportunity to shine the spotlight on well-deserving indie films," said Jon Favreau. "It's always a challenge for small films to connect with fans and moviegoers, but with the help of programs like Independent Voices we can make a difference and help generate excitement around these special movies."

Amazon.com's independent film selection has been rapidly growing over the years, thanks in part to the CreateSpace DVD on Demand service, which enables independent filmmakers to make their films available on Amazon.com and through other sales channels. The Amazon Indie & Art House store is launching with more than 25,000 films that span many genres, including action/adventure, comedy, drama, horror, martial arts and romance. The store also includes many popular customer interaction features, such as discussion forums, customer voting, IMDb film information, reviews and blogging as well as access to titles from Amazon Unbox, Amazon's digital video download service (www.amazon.com/unbox), where customers can rent or purchase international and art house films. Visit the new store at www.amazon.com/indies to browse Amazon.com's independent and art house film catalog.

About Amazon.com

Amazon.com, Inc., (NASDAQ:AMZN), a Fortune 500 company based in Seattle, opened on the World Wide Web in July 1995 and today offers Earth's Biggest Selection. Amazon.com, Inc. seeks to be Earth's most customer-centric company, where customers can find and discover anything they might want to buy online, and endeavors to offer its customers the lowest possible prices. Amazon.com and other sellers offer millions of unique new, refurbished and used items in categories such as health and personal care, jewelry and watches, gourmet food, sports and outdoors, apparel and accessories, books, music, DVDs, electronics and office, toys and baby, and home and garden.

Amazon and its affiliates operate websites, including www.amazon.com, www.amazon.co.uk, www.amazon.de, www.amazon.co.jp, www.amazon.fr, www.amazon.ca, and the Joyo Amazon websites at www.joyo.cn and www.amazon.cn.

Source : http://www.amazon.com

Retailers ask President Bush to act quickly on Economic Stimulus

Following up on a resolution passed by the National Retail Federation Board of Directors earlier this week calling for legislation to stimulate the nation’s economy, NRF wrote to President Bush and both Democratic and Republican leaders of Congress asking for quick action.

“U.S. retailers, who are a bellwether for our nation’s changing economic climate, are greatly concerned about the softening of the U.S. economy,” NRF President and CEO Tracy Mullin said.

“2007 holiday sales were the weakest since 2002, and as the new year begins, consumer spending remains sluggish. Consumer spending represents 70 percent of the U.S. economy and has fueled our economy for the past decade.

We agree with economists who say the fastest way for a stimulus to enter the economy is through the consumer.”

“Quick enactment of legislation to put dollars back in consumers’ pockets would fuel consumer spending and create additional demand throughout all sectors of the nation’s economy,” Mullin wrote. “We believe such legislation could be the boost our economy needs to set it on an upward path once more.”

“Because it is so important to enact this legislation in a timely manner, we urge you to work with congressional leaders on a bipartisan basis to move a simple, targeted economic stimulus package as soon as possible.”

Mullin’s comments came in a letter to Bush delivered to the White House. Similar letters were sent to House Speaker Nancy Pelosi, D-Calif, and Minority Leader John Boehner, R-Ohio, and to Senate Majority Leader Harry Reid, D-Nev, and Minority Leader Mitch McConnell, R-Ky.

On Tuesday, the NRF Board unanimously adopted a resolution calling on Congress and the President to enact economic stimulus legislation as more than 18,500 retailers and vendors from around the globe met in New York City for NRF’s 97th Annual Convention.

The Board said NRF expects the nation’s economy will be under continued financial stress in 2008 as a result of high energy costs, fallout from the housing slump, and sluggish employment and income growth.

As with the Board’s resolution, letters called for economic stimulus legislation but did not endorse any specific legislation or proposal.

NRF’s action follows the Commerce Department’s announcement on Tuesday that retail sales for December (excluding automobiles, gas stations and restaurants) rose 1.7 percent unadjusted over 2006 and decreased 0.4 percent seasonally adjusted from November.

Combined November-December holiday sales increased 3 percent over 2006, which was the lowest increase since 2002, when holiday sales rose 1.3 percent.

On Monday, NRF issued its 2008 economic forecast, calling for a 3.5 percent increase in retail sales over 2007. That would be the smallest increase since 2002, when sales grew only 3 percent.

NRF Chief Economist Rosalind Wells said the forecast could only be reached if action is taken by both the Federal Reserve and Congress to stimulate the economy.

Source : http://www.fibre2fashion.com

NRF Forecasts 3.5% Growth in Retail Sales for 2008

The National Retail Federation released its 2008 economic forecast today, predicting that retail industry sales (which exclude automobiles, gas stations, and restaurants) will increase 3.5 percent from last year. According to its quarterly Retail Sales Outlook report, released this morning at NRF’s 97th Annual Convention & EXPO, NRF expects the slow pace in sales growth to continue before picking up in the second half of the year.

“Consumers will be under financial stress from high energy costs, the fallout from the housing slump, and sluggish employment and income growth,” said NRF Chief Economist Rosalind Wells. “Shoppers will seek to pay down debt, spend more in line with income growth, and approach discretionary purchases with more restraint.”

While the outlook is somewhat reserved, Wells expects sluggish first half sales to eventually give way to stronger sales in the third and fourth quarters. NRF expects industry sales to increase 3.2 percent in the first half of the year followed by a 3.8 percent increase in the second half as economic conditions improve.

“Retailers will once again be forced to market to more practical consumers, many of whom will be looking to trade down,” said Wells. “Even areas of past high growth like luxury goods and online shopping will feel the pressure. In 2008, the challenges will be formidable for everyone.”

The National Retail Federation is the world's largest retail trade association, with membership that comprises all retail formats and channels of distribution including department, specialty, discount, catalog, Internet, independent stores, chain restaurants, drug stores and grocery stores as well as the industry's key trading partners of retail goods and services. NRF represents an industry with more than 1.6 million U.S. retail establishments, more than 24 million employees - about one in five American workers - and 2006 sales of $4.7 trillion. As the industry umbrella group, NRF also represents more than 100 state, national and international retail associations. www.nrf.com

Source : http://www.nrf.com

L.L. Bean Number One in Customer Service, According to NRF Foundation/American Express Survey

Satisfaction guaranteed is a mantra many companies live by, but customers say that none demonstrate that practice more than specialty retailer L.L. Bean. According to the third annual NRF Foundation/American Express Customer Service Survey, L.L. Bean delivers the best customer service in all retail formats. Results were unveiled moments earlier today at the Annual Retail Industry Luncheon during the National Retail Federation’s Annual Convention & EXPO in New York City. L.L. Bean moved up from third place in 2006 to secure the number one spot this year.

The survey of 8,800 consumers and conducted by BIGresearch, found internet-only retailers landing top spots on the list, with Zappos.com coming in second, Amazon.com third, Overstock.com fourth and Newegg.com tenth. Other retailers who excel in customer service have both websites and physical stores or catalogs, with multichannel retailers Blair (#5), Lands’ End (#6), Coldwater Creek (#7), Nordstrom (#8) and Lane Bryant (#9) rounding out the top 10.

“Good customer service starts and ends with how the customer feels about their experience with a retailer,” said NRF Foundation Vice President Kathy Mance. “Retailers are especially challenged because of the multiple touch points that exist between the customer and their brand, but these companies have shown that great customer service does exist.”

In terms of customer service, shoppers say they expect the most from restaurants and specialty stores – which both rated 4.4 out of 5.0. Customers also have high expectations of department stores (4.1), drug stores (4.0), grocery (3.9), internet retailers (3.8) and membership warehouse clubs (3.7). Shoppers say they expect the least from discounters with a ranking of 3.4.

“Consumers who have a positive experience naturally spend more time and money in a store or shopping online,” said Glenda McNeal, senior vice-president, Retail and Emerging Industries, American Express Merchant Services. “Excellent service is of the greatest importance as retailers work to retain and build upon their customer base.”

About the Survey

The NRF Foundation/American Express 2007 Customer Service survey was designed to gauge consumer attitudes toward retailers’ customer service and to provide a listing of the top customer service retailers. The survey, which polled 8,877 consumers, was conducted by consumer marketing intelligence firm BIGresearch from September 4 - 11, 2007. The consumer poll has a margin of error of plus or minus 1.0 percent. Consumers answered the open ended question, "Which retailer delivers the best customer service? "In order to develop a fair comparison, regardless of a retailer's size or geographic coverage, the consumer survey responses were compared to each retailer's 2006 revenues to develop the overall rankings. The survey data and the process for selecting the winners were reviewed by Professor Martin P. Block, Ph.D., of Northwestern University.

American Express is a leading global payments, network, travel and banking company founded in 1850. Merchant Services is the merchant network of American Express, which acquires and maintains relationships with millions of merchants around the globe, which welcome American Express-branded Cards.

BIGresearch is a consumer market intelligence firm that provides unique consumer insights that are gathered online utilizing very large sample sizes. BIGresearch’s syndicated Consumer Intentions and Actions survey monitors the pulse of more than 7,000 consumers each month to empower its clients with unique insights for identifying opportunities in a fragmented and changing marketplace.

The NRF Foundation is the research and education arm of the National Retail Federation. A non-profit foundation created in 1981, the Foundation conducts industry research, develops education and workforce development programs, professional certification programs and promotes retailing as a career destination. The NRF Foundation benefits retailers, their associates and business partners and allies, and consumers in many ways. Research provides the basis for education about the industry and its importance to the economy, and provides industry and government leaders with an analysis of public policy decisions on consumers, retailers, and the economy. The Foundation’s education and career development efforts, including NRF University wired, encourage professional development and excellence in performance of retailing for associates and executives at all levels.

Source : National Retail Federation

'Organizing for Cross-channel Retailing' released

As the internet becomes more influential, companies are grappling with the best ways to integrate multiple channels to maximize the customer experience and be more efficient, according to research released by Shop.org, the digital division of the National Retail Federation. The study was conducted by J.C. Williams Group and underwritten by Sterling Commerce.

The report, “Organizing for Cross-channel Retailing,” is the result of a six-month study that benchmarks and documents cross-channel organization design.

The study was based on individual interviews with retail executives in addition to round table workshops with executives.

According to the report, it is common for retailers to have completely separate online operations with their own marketing, merchandising and fulfillment capabilities.

Many retailers with this independent structure have seen tremendous growth and profitable returns. However, the study noted that, over time, a lack of integration results in inefficiencies and customer confusion.

While there are numerous roadblocks to the creation of fully integrated cross-channel retail business, the study concludes that cross-channel success will be most likely when it becomes a top-down mandate.

Although the research is expected to revive a discussion over the best way to organize a company to leverage the Internet, the report concludes that there is no one-size-fits-all model for retailers to follow.

“Integrating the operations of stores and websites will undoubtedly lead to greater customer satisfaction, but it is not an easy road,” said Jim Okamura, Senior Partner at J.C. Williams Group, which conducted the study for Shop.org.

“The first retailers to accomplish this structural change successfully will achieve a competitive advantage and will quickly be followed by other companies looking to duplicate that accomplishment.”

The findings of this report will be discussed in more detail during a session from 1:45-2:45 p.m. during NRF’s Annual Convention & EXPO at the Javits Center in New York City.

During the session, “Cross-Channel Retailing: Organizing for the Future,” Borders executives Kevin Ertell, Vice President of e-Business, and Rob Gruen, Executive Vice President of Merchandising and Marketing, will discuss Borders’ cross-channel strategy as well as its challenges and potential rewards.

"It’s time to stop thinking about 'online retail,' as its own world and start thinking about it as part of the overall retail industry because they are serving the same customers," said Scott Silverman, Executive Director of Shop.org.

“It may take another generation of retail leaders, however, before companies are able to best capitalize on the strengths of multiple channels from streamlining their organizational structure.”

J.C. Williams Group is a boutique retail-consulting firm with recognition in the fields of strategic planning, retail branding, research, technology, and multi-channel retailing.

With offices in Chicago, Toronto and Montreal, J.C. Williams Group provides practical, creative, and in-depth knowledge of retailing.

Internationally, the firm is a member of The Ebeltoft Group an international consortium of retail consulting firms.

Source : Fibre2fashion.com

Dubai Shopping Festival with full stock of fashion & jewelleries

Al Bustan Centre and Residence - a deluxe property which offers world-class services and facilities in the city – is providing a rewarding shopping experience to residents and shoppers during the forthcoming Dubai Shopping Festival (DSF).

The property has already lined-up many attractive activities, tempting and special promotions, bargain deals and products during the shopping bonanza that are too irresistible to miss.

The shops have been stocked up with the latest in fashion, accessories, jewelleries, cosmetics, perfumes and much more. Thus shoppers will get endless opportunities to win a range of prizes everyday for 32 days of the festival.

One of the major DSF 2008 activities that the property is holding is the grand Nissan raffle, where customers get the chance to win the full range of the latest Nissan models, by spending Dh250 at any outlet of Al Bustan Centre and Residence.

Moussa El Hayek, the Chief Operating Officer of Al Bustan Centre & Residence, enthusiastically noted: “Be part of this mega event and win big with our special DSF promotions.

The bundle of discounts we are offering demonstrate our commitment to our valued customers. We have a great selection of products which are being sold at best prices in the city.

Thus we hope that visitors to our property will not only enjoy the festive spirit but the great deals at all our outlets.”

Moussa concluded as customers would avail themselves of fantastic deals on a wide variety of products from some of the best international brands the property once again hopes to receive a huge response from residents and visitors during the DSF 2008 edition.

Meanwhile, the property has shown unwavering commitment to support the two big festivals, DSF and DSS, in a bid to promote Dubai as one of the best shopping destinations in the world.

The property develops entertaining programmes to create a unique shopping experience for the benefit of customers who come to stay at the property from across the globe.

Source : Fibre2fashion.com