| February 24, 2011 | News for the retail industry |  |  | |
- Sears taps former tech executive for CEO post
Sears Holdings has tapped longtime tech executive Lou D'Ambrosio as its new CEO, ending a three-year search. D'Ambrosio, who spent 16 years at IBM and more recently led Avaya as CEO, has been a consultant with Sears in recent months, and Chairman Edward Lampert said D'Ambrosio's background makes him the right choice during a time when technology is changing the way retail operates. The Wall Street Journal (2/24)       - Loblaw to launch Joe Fresh brand in the U.S. this fall
Joe Fresh is slated to expand to New York City this fall, as parent company Loblaw tests the popularity of its in-house low-priced apparel with U.S. consumers. Joe Fresh, which has become Canada's largest seller of children's apparel since launching five years ago, hopes to emulate Canadian chains that found success in the U.S., including Lululemon and Tim Hortons. National Post (Canada) (2/23)  | To become a top-performing distributor, you must:
• Achieve 98% inventory accuracy.
• Reach 95% on-time and complete shipment rates.
• Maintain 12-hour order-to-shipment cycle times.
• Achieve 13% cycle-time reductions from ERP use.
Distributors, how do you stack up against top performers? View the Aberdeen webcast to find out. | - Analyst expects modest sales growth at major retailers
With major retailers showing mixed sales results in their fourth-quarter financial reports this week, Wayne Hood, an analyst with BMO Capital Markets, said that higher commodity prices, particularly for cotton and oil, could hinder retailers. "I think the challenge, particularly in the back half of the year, is how these guys manage higher input costs," he said. "There's a certain amount of bravado that they can handle the price increases, that they can do it better than the next guy, but we'll see." Los Angeles Times (2/23) - Stronger domestic spending sparks demand for luxury goods
European luxury goods companies are reporting strong holiday season sales, making them more confident about the strength of the sector's rebound amid stronger spending on high-end fashion, jewelry and spirits in Europe and the U.S. Cartier, Burberry and Hermes all saw sales rise more than 25% in the most recent quarter, and ongoing strong demand gives companies a renewed ability to raise prices without losing customers, analysts say. The Wall Street Journal/Dow Jones Newswires (2/23)  | How can you control your largest source of shrink... if it can't even be seen? Learn how top retailers such as Vitamin Shoppe find, track, and stop employee theft. Our free White Paper explains key loss prevention facts and trends that you need to know, and how exception reporting - properly executed - can dramatically increase your profits and deliver big ROI! Get your copy now! |
 | Retail Technology |  | | | - Taobao gears up to grab China's daily-deal fans
China's largest online marketplace, Taobao, will launch daily deals from local businesses on its group-buying website, a move that comes as Groupon gears up to enter the market. Taobao's site offers three daily deals from the company's online merchants but will expand to include services and products from brick-and-mortar restaurants, stores and service businesses. The Wall Street Journal (2/23) | Main Street | | | | - Business lending on the rise after 2 stalled years
Bank lending grew last year for the first time since the recession hit, according to figures from the Federal Reserve. This is good news for small manufacturers such as Martin Foil, who was able to borrow $11 million to buy a closed yarn factory and retool it to serve growing retail demand for the finished pieces made from his yarn. "Companies are talking about growth in ways they haven't for three years," said Perry Pelos, head of Wells Fargo's commercial banking. The Denver Post/The Associated Press (2/23) | Policy & Government Affairs | | | | - Illinois governor signs law on organized retail theft
Illinois Gov. Pat Quinn signed a bill Wednesday that takes a carrot-and-stick approach to cracking down on organized retail theft by punishing habitual offenders with property forfeiture and offering repentant thieves the chance to erase arrests from their records more quickly. The state estimates that it lost about $77 million in sales tax last year because of retail theft. Chicago Tribune/Clout Street blog (2/24)
| NRF News | | | | - Retails' "state of the industry" report available now
For nine years NRF and KPMG have produced the retail industry's most authoritative source for benchmarks and trends, based on an annual survey of hundreds of retail executives and interviews with thought leaders. The 2011 report, "Retail Horizons: Benchmarks for 2010, Forecasts for 2011" is now available to purchase. Order the full report by Feb. 28 and save up to $135. Learn more. - NRF SmartStat: Feb. 24, 2011
 More than 20% of consumers say an upgraded mobile device, such as a smartphone, iPad or eReader, was something they could not live without in 2010, up from only 12.5% in 2009. Source: STORES Media survey conducted by BIGresearch - 7 things to know about e-commerce in 2010
Following Shop.org's recent webinar "The 2010 Digital Year in Review," comScore Executive Chairman and co-founder Gian Fulgoni shared seven e-commerce stats from 2010 that industry professionals should keep in mind when planning for 2011. Read more.
| Chain Restaurant News | | | | - Goodburger's Tom Galis shares the secrets of simplicity
Tom Galis comes from a restaurant family and got his start selling hot dogs from his family's cart in New York's Times Square. Today, he operates six Goodburger restaurants in New York City, and says the focus on a simple, affordable menu made from quality ingredients will be the key to standing out among the fast-growing field of burger concepts. BurgerBusiness.com (2/23)  | |  | | The Buzz(CORPORATE ANNOUNCEMENTS)
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