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Finance & Capital Management

  • Report confirms strong connection between customer experience, loyalty

    NEW YORK — Customer experience is highly correlated to loyalty in both the United States and the United Kingdom, according to a new report by Temkin Group.

    According to "The ROI of Customer Experience" study, a $1 billion U.S. company can generate between $141 million and $382 million over three years if it makes a modest improvement in the customer experience it delivers.

  • Allure of single price point could prompt further dollar store designs

    Walk into a Target store anywhere in the U.S. and it’s a safe bet there will be at least a few customer rummaging through the bins of single price point merchandise in the Dollar Spot located just inside store entrances. The ever changing assortment’s treasure hunt appeal and single price point value proposition are simply too much for many customers to bypass. It is enough to make wanna-be merchants wonder if further expansion of the concept makes sense for Target, especially considering the raging success companies such as Dollar General and Family Dollar are having.

  • Report: Wal-Mart U.S. sales momentum continues

    Bentonville, Ark. -- Wal-Mart Stores chief merchandising officer Duncan MacNaughton said during a CIBC conference on Wednesday that Wal-Mart’s domestic sales momentum has continued over the last two months.

    The world’s largest retailer registered a same-store sales rise of 1.3% in U.S. stores in the third quarter and a 1.5% increase in the fourth quarter.

    Results reversed a nine-quarter streak of same-store sales declines.

    According to MacNaughton, the momentum continued in February and March, as well.

  • Modell’s Sporting Goods opens new New Jersey store

    Paterson, N.J. -- New York City-based Modell’s Sporting Goods said Wednesday it will open a new 7,000-sq.-ft. store in Paterson, N.J., on Thursday.

    The announcement comes off the heels of three store openings earlier in March in Brooklyn, N.Y.; Fresh Meadow, N.Y.; and Wayne, N.J.

    The retailer operates 151 stores located in New York, New Jersey, Pennsylvania, Connecticut, Rhode Island, Massachusetts, New Hampshire, Delaware, Maryland, Virginia and Washington, D.C. 
     

  • New outlet mall breaks ground in Phoenix

    Phoenix -- Indianapolis-based Simon Property Group said Wednesday that its Premium Outlets division has launched construction of Phoenix Premium Outlets, an upscale outlet shopping center serving the Greater Phoenix and Scottsdale areas.

    Phoenix Premium Outlets will be located in Chandler, Ariz. Phase I of the project will be comprised of 360,000 sq. ft. housing approximately 90 outlet stores featuring high-quality designer and name brands. A spring 2013 opening is planned.

  • Report confirms strong connection between customer experience and loyalty

    New York -- Customer experience is highly correlated to loyalty in both the United States and the United Kingdom, according to a new report by Temkin Group.

    According to "The ROI of Customer Experience" study, a $1 billion U.S. company can generate between $141 million and $382 million over three years if it makes a modest improvement in the customer experience it delivers.

  • Jos. A. Bank Q4 income rises 8%

    Hampstead, Md. -- JoS A. Bank Clothiers Inc. said Wednesday that its fiscal fourth-quarter profit rose 8% amid improved sales. But the chain cautioned that softer-than-expected customer traffic and milder winter weather is pressuring its first-quarter performance.

    Jos. A. Bank reported net income of $44.1 million for the period ended Jan. 28, up from $40.9 million a year earlier.

    Revenue increased 9% to $346.3 million, from $318.3 million.

  • Family Dollar tops estimates as Q2 profit jumps 10.7%; on track to open 450 to 500 stores

    Matthews, N.C. -- Family Dollar Stores Inc.'s second-quarter earnings rose 10.7% as increased customer traffic fueled higher sales. Its results topped analysts’ expectations.

    The discounter said its net profit rose to $136.4 million for its fiscal second quarter ended Feb. 25, 2012, from $123.2 million a year earlier.

  • Express Scripts exit gives Walgreens confidence in Q2

    DEERFIELD, Ill. — On the eve of a potential Federal Trade Commission approval of the Express Scripts/Medco merger, Walgreens' underlying fundamentals still are strong, Walgreens president and CEO Greg Wasson told analysts Tuesday morning. It's that underlying strength that has helped Walgreens in the wake of its exit from the Express Scripts pharmacy benefit network, a factor that impacted Walgreens' net earnings by 7 cents per diluted share for its second quarter ended Feb. 29. Net earnings for the second quarter were $683 million, a 7.7% decrease.

  • Charming Shoppes posts 4Q loss, closings planned

    BENSALEM, Pa. — Charming Shoppes Inc. recorded a wider-than-expected loss for its fourth quarter as higher product costs and discounts at its Lane Bryant division cut into margins. The chain said it plans to close between 90 to 105 underperforming stores this year.

    Charming Shoppes, which hired Barclays Capital in December to help it review its options, posted a loss of $13.2 million for the three months ended Jan. 28, compared with a loss of $30.4 million a year ago.

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