News

Strategist, adviser, communicator, futurist: Retail chief financial officers have seen their role broaden so much in recent years that, in some cases, they have become virtual partners with the CEO. Once responsible primarily for financial stewardship, the CFO is embracing a growing number of additional roles encompassing strategic planning, technology and perhaps even a bit of crystal ball gazing.

It may only be October, but here’s a prediction: It’s going to be a high-tech holiday, and I’m not talking about the gift-giving part of it. (Although in a refrain I think will play out in countless homes over the next couple of months, my 20-year-old godson has told his family the ONLY thing he wants for Christmas is a new Apple phone.)

But the big story this year is likely to be retailers’ increased use of emerging technologies that bring the digital and brick-and-mortar worlds together.

Albany, N.Y. – The global Big Data market, worth $6.3 billion in 2012, is expected to reach a value of $48.3 billion in 2018. According to a new study from Transparency Market Research, a year-on-year compound annual growth rate (CAGR) of 40.5% during the period 2012-2018 will produce that figure.

Milford, Conn. – Subway Restaurants is partnering with Diet Coke in a new omnichannel promotion with a grand prize of meeting pop singer Taylor Swift in person. The #MeetTaylor contest, which runs Oct. 1 – Nov. 15, includes restaurant, social, online, TV and radio promotions.

Limited-edition Diet Coke cups will feature Swift’s likeness and also will carry specially-marked codes for a chance to win, daily in October, a meet and greet opportunity with Taylor Swift on her 2015 concert tour.

Chengdu, China – Online apparel wholesaler Milanoo has launched a new version of its shopping app for both iPhone and Android. Based in Hong Kong, the company offers clothing and apparel to more than 180 countries worldwide, and serves customers in eight languages.

The new Milanoo app 2.0 includes push notifications of new arrivals and flash sales, order tracking, Facebook sign-in, and secure payment options including PayPal, credit card and Western Union money transfer.  

New York -- Consumers consider social media a less important part of their customer journey – from awareness to post-sale activity – compared to two years ago, according to a survey by Capgemini, a leading provider of consulting, technology and outsourcing services.

The Pep Boys president, CEO and director Mike Odell has resigned. Director John Sweetwood has been named interim CEO, effective immediately.

Sweetwood has served on Pep Boys’ board of directors since 2002 and is currently the president of Woods Investment, LLC, a private real estate investment firm. Sweetwood is the former president of the Americas Six Continents Hotels (currently Intercontinental Hotel Group), which operates hotels under the InterContinental, Crown Plaza, Holiday Inn and other brands.

Belk’s fall charity sale of the year will take place Saturday, Nov. 8 from 6–10 a.m. at all Belk stores, helping thousands of participating charities across the retailer’s 16-state footprint.

The four-hour, in-store shopping event is an excellent fund-raising tool for participating organizations that sell $5 tickets to their supporters. It’s also an opportunity for customers to give back to local nonprofits while taking advantage of special in-store discounts on purchases during the event.

Coach has announced that executive chairman Lew Frankfort plans to retire upon his term’s expiration. He will not stand for re-election to the board at the company’s annual meeting of stockholders in November.

The company intends to bestow upon him the honorary title of chairman emeritus at that time.