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99 Cents Only posts sales decline; names new CFO
The CEO of 99 Cents Only pointed to the promise of a new executive team as evidence that the company can return to profitable growth even as it reported disappointing third quarter results.
The company said for the period ended Oct. 30, the company's net sales increased 2.8% to $491.5 million, compared to $478.3 million in the prior year. Same-store sales decreased 3.9% due to challenges in produce and consumables sales, the cannibalization impact of recent new store openings as well as ongoing initiatives to clear excess seasonal inventory, the company said.
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Study: What do consumers think about personalized marketing?
Before you declare your personalized marketing efforts a success, check with your customers.
That is the overriding message from a global study of 1,200 consumers and 200 marketing professionals conducted in October 2015 by Forrester Consulting for hybris. The study, “The Contextual Marketing Imperative,” finds that while 66% of marketers rate their efforts at personalization as “very good” or “excellent,” just 31% of consumers report companies are consistently delivering personalized, cross-channel experiences
