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Retailers invest in customer engagement
WASHINGTON — Retailers in 2012 will invest heavily in IT, e-commerce, customer service and mobile platforms in order to build customer engagement, a new report from the National Retail Federation Foundation and KPMG found. The report, titled, Retail Horizons: Benchmarks for 2011, Forecasts for 2012," surveyed 247 retail executives from various sectors, outlines retailers’ top strategic initiatives for 2012 including merchandising, ecommerce, store and field operations, supply chain and human capital, among others.
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Abercrombie & Fitch Q4 profit falls 80% on holiday promotions, flat sales
New Albany, Ohio -- Margin squeezes and flagging same-store sales hurt Abercrombie & Fitch Co.’s fourth quarter profit dropped nearly 80% drop, to $19.6 million from $92.6 million a year earlier, amid margin squeezes and flat same-store sales.