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Ikea launches employee loyalty program
Ikea plans to launch an employee loyalty program launch in the new year. Beginning in 2014, every employee worldwide will receive an equal contribution to their pension plan, based on the company's financial goals being met.
The program named Tack! — which means ‘thank you’ in Swedish — was inspired by Ikea founder Ingvar Kamprad's wish to “share the success of the Ikea Group with all employees.”
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Pier 1 boosts net income, sales
Fort Worth, Texas – Pier 1 Imports boosted net income and sales during the third quarter of fiscal 2014 compared to the same period in the prior year, partially aided by strong Thanksgiving weekend performance. Net income totaled $26.8 million, up 13% from $23.7 million.
Total sales for the third quarter were $465.5 million, a 9.6% increase from $424.5 million in the year-ago quarter.
Same-store sales rose 6.9%, primarily attributable to increases in conversion rate and higher average ticket.