Duane Reade: Anatomy of a drugstore makeover

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March 22, 2011 News for the retail industry   Industry Watch    Tiffany scales back profit forecast in earthquake's wake Tiffany & Co. operates 56 of its 233 jewelry stores in Japan, a market whose luxury shoppers helped boost fourth-quarter profits 29%, but the chain has cut its earnings forecast for the current quarter in the wake of the earthquake and tsunami there. Physical damage to its stores in Japan was minimal, the company said, but it had closed stores or reduced hours at shops in the Kanto and Tohoku regions, which account for about half its Japanese sales. Yahoo!/The Associated Press (3/21) Duane Reade: Anatomy of a drugstore makeover As New York drugstore chain Duane Reade turned 50, it increasingly heard complaints about cluttered stores that offered unpleasant shopping experiences. Loyal shoppers also expressed a desire to see the local stores succeed, and the chain began a comprehensive evaluation of its entire business with an eye on ensuring its future success. The resulting store makeovers and strong line of new private label brands were enough to attract Walgreen, which acquired the chain for $1.08 billion last year. STORES magazine (3/2011) Convenience gives Walgreen an edge Walgreen shares have gained about 40% during the past six months, as the retailer benefits from a balance found between offering variety and convenience. The drugstore, which sells groceries, beer, wine, health services and prescriptions, is "becoming the substitute for the midweek shopping trip," said one analyst. The Wall Street Journal (3/22) Amazon-owned ShopBop aims to engage brides-to-be ShopBop.com is the latest fashion retailer to offer a line of more moderately priced wedding gowns and bridesmaids dresses. The Amazon-owned company recently launched an online wedding boutique with 20 eclectic selections from collections including Thakoon Edition, Halston Heritage and Notte by Marchesa. The dresses range from $495 to $6,000. Los Angeles Times/All the Rage blog (3/21) Scheels to open mega-store in new Utah development Sporting-goods retailer Scheels has sealed a deal to build its newest 220,000-square-foot store at a new development in Sandy, Utah. The store aims to be a destination for entertainment as well as shopping, with a 65-foot-tall Ferris wheel and 16,000-gallon salt-water aquarium, and it's likely to become a draw for other merchants considering setting up shop in the center, said the city's economic development director. The Salt Lake Tribune (Utah) (3/19) Drive sales by adding mobile to your retail communications and marketing campaigns using SMS. Common Short Code (CSC) based text messaging campaigns deliver great results. Download this whitepaper to see how SMS is helping retailers disseminate calls-to-action quickly and to a wider base of population, driving traffic and increasing revenue.   Retail trends    How long will it take for e-books to eclipse print? E-books are here to stay, with Amazon already selling three times as many Kindle titles than hardcover tomes, and other booksellers catching up. E-book sales increased 164% last year, a trend that played an integral part in the decline of Borders and is proving a significant challenge to publishing houses, which still reap 90% of their revenue from print books and face the task of converting massive print operations to digital. TIME (3/21) Other News Survey: Higher prices at the pump have consumers shopping less Yahoo!/Reuters (3/21) Wealthy consumers pick up where they left off before the downturn Orlando Sentinel (Fla.) (3/20) Akamai - The Right Partner with the Right Solution Are you failing to to satisfy user expectations for an outstanding online shopping experience? Do you need to accelerate your dynamic content? Do you strive to be a retailer that pushes the envelope with site technology and offerings? Learn why the Akamai Dynamic Site Accelerator is the right solution for those issues and more.   Main Street    15 tips to make meetings worthwhile Meetings can be productive if ground rules are put in place, such as everyone agreeing on key goals beforehand, writes Thomas Kayser, a Xerox veteran and author of "Building Team Power: How to Unleash the Collaborative Genius of Teams for Increased Engagement, Productivity, and Results." Participants should agree to support diverse opinions, record off-topic issues to discuss at another time and assess the meeting's effectiveness at the conclusion, Kayser wrote. SmartBrief/SmartBlog on Leadership (3/21) Mobile apps become a small-business must-have More than 70% of small businesses use mobile applications in their operations, according to a study by AT&T, and they cited motivations such as saving time, boosting productivity and saving money. Of the 2,246 business owners surveyed, more than a third said they would find it hard to get by without their mobile apps. Inc.com (3/21) Other News Fewer small businesses file for bankruptcy The Wall Street Journal/In Charge blog (3/17) Three Trends Causing Paradigm Shifts in Online Retail The growth of ecommerce is accelerating as consumers become more comfortable and confident transacting online. In this whitepaper you will learn about the three major trends re-shaping online retail. • Video as a way to enhance the shopping experience • Mobile as a channel for expanding marketing reach • Personalization informed by advanced analytics   Policy & Government Affairs  U.S. looks to streamline work-eligibility system The Department of Homeland Security is exploring the use of an electronic verification system to help workers and companies determine employment eligibility. The E-Verify Self-Check program is being tested in stages nationwide. Federal Computer Week (3/21), The Washington Post (3/21), The Wall Street Journal/Dow Jones Newswires (3/21) Business Gold Rewards Card® Use points to do more for your business: • Offset business travel expenses • Purchase office supplies and equipment with gift cards • Recognize employees and thank clients - Find the perfect gift with thousands of options to choose from Business Gold Rewards Card® from American Express OPEN. Apply Now.   Sponsored Content    How Home Equity Loans In The Boom Led To Today's Small Business Credit Problems Scott Shane 8 Ways to Get the Most Out of Your Excess Inventory Judith Aquino Top 5 YouTube Marketing Mistakes Committed By Small Businesses Amy-Mae Elliott Village Vines: A More Effective Alternative To Groupon? Mike Periu How to Hire a Great Web Designer, With Y Combinator's Garry Tan Jolie O'Dell   NRF News  Smaller marketing budget? Focus on relevancy How relevant are your marketing communications? Studies reveal that up to 63 percent of consumers have or would consider abandoning a brand altogether because of irrelevant communications. In a recent whitepaper made available at NRF's Retail Reference Center, Connie Hill of VeraCentra shares how relevancy, executed well, "can prevent customer defection, improve customer satisfaction and increase customer spending while reducing marketing costs." Read more. NRF SmartStat: March 22, 2011 Delays to swipe fee reform could cost merchants and customers $1 billion per month. Source: NRF.   Global Supply Chain Summit standard registration rate ends April 1 Hear from top retail supply chain executives and their business partners at NRF's 2011 Global Supply Chain Summit as they tackle the industry's toughest challenges. Executives from Kohl's, UPS, DSW and other brands will discuss supply chain issues such as compliance, sustainability and talent recruitment. Register by April 1 to save $200 off the on-site registration rate. Learn more. Learn more about NRF -> Join NRF  |  Govt Relations  |  NRF Events  |  STORES  |  NRF Foundation   Chain Restaurant News  How social media will offset marketing spending at Krispy Kreme Krispy Kreme's marketing chief Dwayne Chambers is a chain-restaurant veteran whose resume includes stints at Fuddrucker's, Noodles & Co. and Red Robin. In this interview, Chambers talks about how the iconic doughnut company plans to increase the use of social media and cut marketing spending as it continues to expand its presence around the globe. Advertising Age (tiered subscription model) (3/21) Hardee's adds healthier turkey burger to its menu Hardee's has become the first major quickservice chain to add a turkey burger to its permanent menu. The restaurants will serve three versions of the leaner premium sandwich, all on whole-wheat buns, under 500 calories each and ranging in price from $2.99 to $3.49. The News & Observer (Raleigh, N.C.) (3/22) Other News Greenopia names top chains for sustainability QSRWeb.com (3/21)   Career Track  The Wet Seal, Inc. Names Ken Seipel as President and Chief Operating Officer CDW Promotes Matt Troka to Senior Vice President Product and Partner Management GiftCertificates.com Announces Appointment of CEO The Buckle, Inc. Reports Quarterly Dividend and Announces the Appointment of Thomas B. Heacock as Treasurer and Corporate Controller Hot Topic, Inc. Announces Chief Executive Officer Transition Merchant Opportunities at Kohl's Kohl's Menomonee Falls, WI Senior Buyer, Sports & Outdoors Amazon.com Seattle, WA Director of Customer Loyalty Aeropostale New York, NY Energy Manager Tractor Supply Company Brentwood, TN Regional Retail Point of Sale (ROPS) Coordinator/NTE 2 years Headquarters, MCCS Quantico, VA Industrial Engineer LOGS Walmart Bentonville, AR Sr. Strategy Project Manager, Logistics Walmart Bentonville, AR Senior Planner, Various Categories Walmart Bentonville, AR Replenishment Manager Walmart Bentonville, AR Distribution Center Area Director PetSmart Atlanta, GA Vice-President 24HourFitness.com 24 Hour Fitness San Ramon, CA Softlines Sourcing Manager Meijer Grand Rapids, MI Senior Marketing Manager, Search Engine Optimization macys.com San Francisco, CA Sr. Labor/Employment Attorney Meijer Grand Rapids, MI Product Development Foods Associate Meijer Grand Rapids, MI General Manager, Merchandise Smithsonian Enterprises Washington, DC Retail Manager Tri-County Feeds Marshall, VA Inventory Manager Tractor Supply Company brentwood, TN   SmartQuote  Moral responsibility is not just a matter of avoiding harm to others; it also means helping people in need." --Michael Nedelsky, American educator   This SmartBrief was created for cpgbrokers.data@blogger.com   Subscriber Tools       Update account information | Change e-mail address | Unsubscribe | Print friendly format | Web version | Search past news | Archive | Privacy policy Grab our News Widget Publish your Press Release   Advertise Associate Publisher:  Susan W. 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