News

Scott Sider is newest Pep Boy
A nine month search is over for automotive retailer Pep Boys who turned to rental car giant Hertz for a new CEO to lead the 800 unit parts and service chain.

Pep Boy had been looking for a new CEO since last September when former CEO Mike Odell stepped down after seven years with the company and longtime board member John Sweetwood was tapped to fill the CEO position on an interim basis.
Study: Retailers want mobile POS, challenges exist
Franklin, Tenn. — Retailers are interested in mobile POS (mPOS) technology, but a number of challenges exist to its widespread adoption. According to a new study from IHL Group, “mPOS: Houston, Do We Have A Problem,” 78% of retailers planning to make a new mobile POS decision by mid-2016.

In addition, 66% of enterprise retailers say they want their existing POS software vendor to provide their mPOS solution. However, it takes chain retailers an average of 9.7 months to deploy a mobile POS solution.

Pep Boys names Hertz veteran as CEO

Philadelphia — The Pep Boys: Manny, Moe & Jack named Hertz Corp. veteran Scott P. Sider, 54, as its new CEO, effective June 15. He most recently served as group president of Hertz Corporation’s largest division, Rent A Car Americas, with over 3,200 locations.

The announcement comes more than eight months after Pep Boys CEO Michael Odell resigned on the heels of disappointing second quarter earnings.
Why digital promotions are more important than ever

Shifting landscapes can make it difficult to focus on the exciting opportunities that result from major market changes. The constant evolution of the digital space fueled by rapidly advancing technology and elusive consumer preferences may leave retailers feeling weary about digital promotions. Frustration over this seemingly unending race causes many to long for the days and simplicity of traditional print promotions.
Yahoo taps former Penney CMO to head up consumer marketing

Debra Berman, former chief marketing office of J.C. Penney, is joining Yahoo in the new position of senior VP of consumer marketing, effective July 6.

"In this newly created role Debra will oversee product marketing, help drive audience engagement and lead consumer brand strategy," Yahoo chief marketing officer Kathy Savitt wrote in a company blog post on Friday.
Shopify expands Facebook buy button pilot

Ottawa, Canada – The Shopify e-commerce platform is expanding a beta test of the Facebook “buy” button with select U.S. retailers, by invite only. Facebook began piloting the buy button, which lets desktop or mobile consumers click the “buy” call-to-action button on ads and page posts to purchase a product directly from a business, without leaving Facebook, in July 2014.
Toys “R“ Us narrows Q1 loss but revenue, same-store sales slip

Wayne, New Jersey — Toys "R" Us Inc. narrowed its losses in the fiscal first quarter. But the chain’s revenue and same-store sales both fell amid a decrease in promotional activities and weakness in the baby and entertainment segments.

Toys “R” Us recently appointed former Domino’s Pizza chief executive David Brandon as its next CEO, effective July 1. He will take the reins from current CEO Antonio Urcelay.
Neiman Marcus swings to Q3 profit, but same-store sales slow

Dallas — Neiman Marcus Group posted a profit of $19.8 million for the third quarter, compared with a year-earlier loss of $8 million. (The quarter included a $16 million charge for amortization of intangible assets, compared with a $36 million charge a year earlier.)

Revenue for the period ended May 2 grew to $1.22 billion from $1.16 billion in the year-ago period, boosted by Neiman’s acqusition of luxury online retailer MyTheresa in fall 2014.
Shoe Carnival plans new, smaller concept store

Shoe Carnival is planning to open smaller stores to leverage untapped markets in smaller communities, as well as the company's omnichannel capabilities.
99 Cents Only profits plummet in Q1

City of Commerce, Calif. — A sharp increase in selling, general and administrative (SG&A) expenses drove an 88% drop in net income at 99 Cents Only Stores Inc. to $1.17 billion in the first quarter of fiscal 2016 from $9.57 billion the same quarter the prior fiscal year.

The profit plummet came as total sales rose 6% to $506.17 million from $477.9 million. Same-store sales declined 1.7%, primarily due to lower customer traffic.